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07/22/2019

Market Review

US market context

S&P index keeps on growing after a historic high. The last week can be rightly called a corrective one. The reporting results of major players fell short of expectations. The market was especially upset about the Netflix report: the company experienced its first major loss in subscribers since 2011. It is now working on overall monetization strategy analysis.

Globally, the market is still waiting for the FRS interest rate cut, which on the one hand will bring upon a strong rally, and on the hand will speed up a recession.

News of the week ahead

This week will decide the fate of the EU and Russia. We will also see the results of the US BBB for Q2 2019.

A few words about gold

Gold has been in a growth phase for 9 weeks already having made a new high since March 2014. The continued growth drivers are both the uncertainty in the stock market and Basel III Accord entry into force this March. Under it, gold is valued at market value with a share of 100% in banks' capital. The share used to be 50%.

Financial results of the largest companies

Following last week, we expect to see financial results for Q2 of the following major companies: Whirlpool (WHR), Xerox (XRX), Coca-Cola (KO), Kimberly-Clark (KMB), AT & T (T), Boeing (BA ), Facebook (FB), 3M (MMM), Alphabet (GOOGL), Amazon (AMZN), Intel (INTC), Magnit (MGNT), McDonald's (MCD), NLMK (NLMK), Yandex (YNDX)              

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