Fasten Your Seatbelt ✈️
- Many of the biggest technological names will release quarterly profits this coming week, including Amazon.com $AMZN, Apple $AAPL, Alphabet $GOOGL, and Meta Platforms $MMAT.
- The outcomes ought to provide fresh insight into the ad market and trends in consumer spending. Additionally, they will offer new perspectives on cloud computing, the most significant trend in enterprise technology.
- A lot is going on this week. Chinese PMI, US non-farm payrolls, central bank rate decisions, and Q4 GDP readings are all reported simultaneously.
Source: Earnings Whispers
Airlines - Preparing For Departure
- After the low-cost airline reported record profitability despite the economic slump, Ryanair $RYAAY CEO Michael O'Leary predicted that a surge of US and Asian tourists would boost demand in Europe this summer.
- O'Leary claimed that early reservations indicated that the biggest airline in Europe was on course for a "good" summer, coming off of its most prosperous December quarter on record.
- Despite the difficulties a year ago, Ryanair has already returned to profitability. According to chief executive Micheal O'Leary, there are "no signs" that the present economic slump will affect the airline industry.
- Ryanair Holdings plc will release its Q1 FY2023 financial results. EPS of $0.91, up from $-0.48 in the same quarter last year, is what analysts are projecting.
Source: Yahoo Finance
China's Reopening
- After three years of President Xi Jinping's zero-Covid policy, China is now reopening to the outside world, raising expectations of a wide economic recovery.
- A $700 billion rally has been launched since the low in October 2021, and traders are already counting on increases in demand for commodities like copper, iron ore, and Chinese tech companies.
- The benchmark CSI 300 index for China saw gains on Monday that lifted it more than 20% above its most recent low, qualifying as a bull market by technical standards.
- However, it is far from guaranteed that the second-largest economy in the world will recover. After a spike during the epidemic, exports are predicted to be muted due to slower global economic growth in the US and Europe.
Other News
- After the Anglo-Dutch consumer giant selected former Heinz leader Hein Schumacher as its new chief executive, shares of Unilever $ UL crept higher in London on Monday, beating the broader market.
- As a growing group of skeptics refused to be persuaded by a 400-page denial of the allegations made last week by short-seller Hindenburg Research, the collapse in the stocks and bonds linked to Gautam Adani's enterprise gained momentum.
- The announcement of the Federal Reserve's most recent interest rate decision and a deluge of company earnings this week was on traders' attention as US stock futures declined on Monday.
- $TSLA stock price rose 33%, marking the company's highest week since May 2013. According to CEO Elon Musk, the firm is scheduled to produce up to 2 million automobiles in 2023.
Source: Yahoo Finance