Market Update: US Corporate Earnings. A Key Metric Could Influence Stock Markets

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Global stock markets, in the current scenario, are very sensitive to macro-economic factors and to events related to the trade battle between the United States and China. Additionally, investors need to pay close attention to the US corporate earnings season, as companies might provide outlook after considering the global macro-economic factors. It can be assumed that companies with global operations are exposed to risks related to the trade battle between the two economic powerhouses. Therefore, tracking companies’ earnings reports give the investors a broad idea about how they would perform.

There are lots of things that investors need to track; however, they should keep a sharp eye on the US Federal Reserve meeting, scheduled on July 30-July 31, 2019. Tracking the meeting might help market players in understanding the broader outlook of the global economy. Also, the meeting has a potential to influence the stock markets. On July 18, 2019, Dow Jones Industrial Average witnessed a marginal rise of 3.12 points or 0.01% on an intraday basis, closing at 27,222.97. Also, on the same day, S&P 500 Index rose 10.69 points or 0.36% on an intraday basis to close at 2,995.11.

Oil Prices Might Get Affected By Stock Markets’ Movements

Oil prices are generally influenced by macro-economic factors, geopolitical conditions and movements in stock markets. Trade battle worries and rising economic uncertainties have the potential to affect the demand for oil, as a result influencing the oil prices. In order to bring stability in broader stock markets, the trade battle between the United States and China needs to end.

Australian Markets Ended in Green: S&P/ASX200 Up 0.8% Intraday

Australian investors need to track the movement of global markets, as these markets might influence the equities in the country. The Australian economy performance and the events which are related to the trade battle also have the potential to affect movements in stock markets in Australia. On July 19, 2019, S&P/ASX200 rose by 51.2 points or 0.8% on an intraday basis to close at 6,700.3 and All Ordinaries witnessed a rise of 50.8 points or 0.7% to close at 6,786.2. We will now have a look at the performance of stocks. Resolute Mining Limited (ASX: RSG) witnessed a rise of 7.077% and settled at A$1.740 per share, while Northern Star Resources Ltd (ASX: NST) rose by 5.98% to close at A$13.470 per share.

On the other hand, Clinuvel Pharmaceuticals Limited (ASX: CUV) with a market capitalisation of $1.64 billion fell by 7.004% to close at A$31.200 per share. Also, Costa Group Holdings Limited (ASX: CGC) registered a fall of 2.588% to close at A$4.140 per share. We have provided updates on three penny stocks which we think that market players should know. To have a look, please click here.


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