Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
The positive sentiment in the US equity market continues
2020-08-27 • Updated
Ichimoku Kinko Hyo
EUR/JPY: The EUR/JPY pair is now poised to enter the cloud. A failed attempt to move higher will push the market lower, confirming the bearish outlook.
European Market View
France announced yesterday that it will launch a EUR100bn stimulus package, probably next week, while Germany extended the short-term labour package until the end of 2021.
Countries like France, Spain and Italy have rejected new lockdowns despite a rise in the number of COVID-19 infections.
Today's most important event is Fed chair Powell's speech on the monetary policy framework review at the annual Jackson Hole conference at 15:10 CEST. Many have high expectations that the Fed is adopting some sort of average inflation targeting allowing inflation to overshoot the 2% inflation target before tightening monetary policy.
The positive sentiment in the US equity market continues, however there was a mixed picture in Asian equity markets this morning.
European Key Point
- France announced yesterday that it will launch a EUR100bn stimulus package.
- Countries like France, Spain and Italy have rejected new lockdowns.
- Fed chair Powell's speech on the monetary policy framework review.
- The positive sentiment in the US equity market continues.
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