Wall Street Week Ahead (SPX): More Gains For Indices, More Pain For China Names As Oil Stocks Gush

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Equity markets look set for yet more all time highs on Tuesday as the market shrugs off Monday’s woes. Earnings continue on their strong trajectory with a slight wobble from big tech last week. That could be the canary in the coalmine leading us lower as Apple, Facebook and Amazon are not exactly names to ignore and all are now well shy of all time highs. Other names are taking up the slack though and perhaps it is time for the small-cap Russell 2000 (IWM) names to shine. Covid cases continue to surge globally with Sydney extending its lockdown, Wuhan testing the entire population and the CDC issuing fresh mask-wearing guidance. It would appear that lockdowns are not going to work for the delta variant though with the latest evidence showing carriers have up to 1,000 more viral loads. Vaccines look to be the best bet and certainly, investors are thinking that way with Pfizer (PFE) Moderna (MRNA) and BioNTech (BNTX) all surging to record highs on Monday. BioNTech is up nearly 50% for July alone.

The summer lull has yet to set into the bond markets as Monday’s wobble is offset by a recovery in yields today, back to 1.18%. The dollar continues its recent weakening, this time consolidating just below 1.19 while Gold is at $1810. bitcoin is lower at $38,300.

ফরেক্স আজ দেখুন

ইউরোপীয় বাজার are mostly positive, FTSE +0.5%, Dax -0.1% and EuroStoxx +0.3%.

মার্কিন ফিউচার are higher, S&P +0.2%, Nasdaq +0.2% and Dow +0.3%.

SPY stock forecast and news

Fed hawk Bullard says “I want the end-of-crisis programs to start soon so the প্রতিপালিত can move in smaller steps rather than risking a “scramble” if high inflation lingers.

China launches a probe into auto semiconductor chip dealers.

BP posts better than expected earnings and increases dividend and স্টক buyback program.

Conoco Phillips (COP) also beats EPS $1.27 versus $1.13 estimate.

SolarEdge (SEDG) reported earnings ahead of estimates, shares up 13% premarket. Citi upgrades.

ক্লোরক্স (সিএলএক্স) missed on EPS and cut forecasts, shares down 11% premarket.

NetEase (NTES) down 7% on a negative article in WSJ re China and online gaming. TCEHY -6% and bili also down 6%.

বাউশ হেলথ কোম্পানি (BHC) down 6% premarket on missing estimates for Q2 sales and cutting guidance.

স্টেলান্টিস (STLA) up 5% premarket after results.

আর্মার (ইউএ) up 4% as results come in ahead of estimates and raises full year forecast.

এলি লিলি (এলএলওয়াই) down 1% on missing EPS by 2c, revenue was ahead of forecasts.

Mariott (MAR) beat on EPS but revenue slightly behind despite doubling year on year. Down 1% premarket.

লি অটো (এলআই) down 2% premarket on company filing for a share offering.