Yazar: Geoffrey Smith
Investing.com – Retail sales, industrial manufacturing, and jobless claims are at the forefront of the U.S.’s busy data calendar. Coinbase is preparing for the second trading day after a successful exit. While Bank of America (NYSE 🙂 announced its $ 25 billion share buyback plan, TSMC warned that the global chip shortage could continue into 2022. Dell is rising as its founder simplifies the highly complex empire structure, and oil consolidated after hitting the highest in nearly a month. On the other hand, Russian assets are under pressure as the US prepares to impose new sanctions on Russia.
What you need to know in financial markets on Thursday, April 15th:
1. Retail sales and unemployment claims
Retail sales, March industrial production data and weekly jobless claims lead the USA’s busy data calendar.
Retail sales, which fell 3% in February, are expected to increase 5.9% last month.
The expectations for industrial production, which will be announced after 45 minutes, are that it increased by 2.8% after a 2.2% decrease in February. The week-long cold wave that affected much of the south paralyzed the energy complex and a number of energy-intensive industries.
Initial jobless claims are expected to have fallen to 700,000, up from 744,000 last week. This figure will reflect that ongoing layoffs in the economy are still high. Philly Fed and Empire State manufacturing surveys are also on the calendar.
2.Bank of America plans $ 25 billion repurchase, Citi and US Bancorp boilers expected
Bank of America was the last bank to report better-than-expected results thanks to the release of reserves allocated at the beginning of the epidemic. It also raised its share prices by announcing that it plans to buy back $ 25 billion in stock.
Bank earnings will continue to be published. Wednesday’s results showed large trend differences between Main Street and Wall Street. Goldman Sachs (NYSE 🙂 experienced its best quarter so far due to big deal activity especially in equity. The same increase was not enough to mask weak trends in consumer and business lending in JPMorgan (NYSE :). Same thing Wells Fargo (NYSE 🙂 was also seen in the results.
Citigroup (NYSE:) ve US Bancorp ile Delta Air Lines (NYSE:), UnitedHealth (NYSE:), Pepsico (NASDAQ:), Blackrock (NYSE:) ve Charles Schwab (NYSE 🙂 is among those who will report.
3. Stock markets will open higher; TSMC warns of chip shortage while Cathie loves Coinbase
US stocks will open mostly high on Wednesday after a mixed trade.
It increased by 154 points and gained 0.5% and 0.6%.
Apart from companies that will offer reporting, Coinbase may also be of interest. It made a spectacular breakout Wednesday with a market cap of $ 76 billion. This was backed by reports that Cathie Wood’s ARK Investment fund purchased $ 246 million shares, albeit 25% below the high level of the day.
Other names that may be of interest include Dell Technologies (NYSE :), which announced that it will separate its share in VMWare to reduce its $ 52 billion debt burden.
Taiwan Semiconductor Manufacturing (TSMC) raised its guidance after predicting that the global silicon chip shortage will continue into 2022.
4.Russian assets upset as the US prepares for new sanctions
It fell 2% and the country lost 2.4% against news that the US would impose new sanctions on the grounds that Russia was involved in the SolarWinds cyber attack and interfered with the elections in the past.
According to reports citing anonymous US officials, the new sanctions do not go as far as punishing organizations for holding Russian assets.
This news came in an environment where Russia was increasing its troops at the Ukrainian border. This could be the start of a new escalation of the conflict that stands in the Donbas region of eastern Ukraine.
In Turkey, the lira from other emerging markets in the limelight. The central bank will hold its first meeting with its new president. The previous executive was dismissed for raising interest rates too much, according to President Recep Tayyip Erdogan.
Oil is calm after dips in inventory raise prices to a new range
Prices, which had risen sharply against the faster-than-expected decline in stocks last week, retreated.
According to the Energy Information Agency (EIA) report, the decline in stocks was twice as expected. In contrast, crude oil prices saw the highest in a month. Prices had already been bolstered by OPEC and the International Energy Agency (IEA) raising their oil demand forecast.
The sentiment is also supported by signs that the airline industry is regaining momentum, at least in the US. American Airlines (NASDAQ 🙂 and others pointed out that vaccine-based immunity could improve their summer flight capacity by restoring trust in people for public transport.