Here is what you need to know on Wednesday, July 21:
Markets proved once again that buying the dip is the only show in town for 2021 with a strong recovery across global equity markets. Fears over the Delta covid variant have not gone away as the WHO says we are at the beginning of another wave, but investors hope that at least in developed economies high vaccination rates will be enough to keep things booming. Economies globally are surging in the developed world as most of Europe, the UK and the US now have high adult vaccination rates.
Earnings season continues along nicely with beats from Coca-Cola (KO), SAP and JNJ. One of our favourtie tickers, HOG, also beats. Harley Davidson!
European markets are higher: EuroStoxx +1%, FTSE +1% and Dax +0.9%.
US futures are also up, Dow +0.4%, S&P +0.2% and Nasdaq is flat.
Wall Street top news
The UK warns of a suspension of the Northern Ireland Brexit deal.
US MBA mortgage applications fall 4% from a prior rise of 16%.
Coke (KO): EPS $0.68 versus $0.55 forecast.
SAP: EPS of $2.11 versus $1.45 forecast.
JNJ: EPS of $2.48 versus forecast $2.27.
Verizon (VZ): EPS of $1.37 versus forecast off $1.29 forecast.
Netflix (NFLX) reported after the close on Tuesday, mixed earnings, subscriber outlook growth disappointed.
Chipotle (CMG) reported strong earnings after the close on Tuesday.
Haliburton (HAL) upgraded by Goldman Sachs.
Moderna (MRNA) hits the WallStreetBets most interested list.
Electronic Arts (EA) upgraded by Deutsche Bank.
Upgrades, downgrades, premarket and earnings
Source: Benzinga Pro
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.