Gains slip away ahead of earnings

Chris Beauchamp IG

Big tech earnings are keeping investors on edge this afternoon, while a fall in commodity prices is weighing on the FTSE 100, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Stocks nervous ahead of key earnings

“The morning gains for Europe have mostly slipped away, and it has been an uncertain start on Wall Street too as investors hunker down and await earnings from Tesla and Alphabet. However, yesterday’s slump in the Vix has continued into today’s session, suggesting that stocks could resume their gains should tonight’s earnings beat expectations.”

Oil prices at fresh six-week lows

“Recent history has shown that oil prices tend to decline over the summer and early Autumn, and worries about demand growth have sparked off fresh losses this afternoon. This spells fresh trouble for the FTSE 100, which has been desperately seeking a catalyst for a new rally. With oil and metals prices suffering it seems the index’s rangebound period has some way to go.”

Author

Chris Beauchamp

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