Bank earnings, Coinbase goes public, IEA raise oil forecast – What’s happening in the markets? By Investing.com


© Reuters.

Yazar: Geoffrey Smith

Investing.com – Coinbase will go public with a reference price of more than $ 65 billion through direct quotes. Bitcoin and Dogecoin are enjoying their reflected splendor. The expectations for JPMorgan (NYSE 🙂 and Goldman Sachs (NYSE 🙂 are that they will share great earnings in the first quarter. French luxury consumption groups have already paved the way. Oil is at a one-year high after the IEA joined OPEC to boost demand forecasts for this year, while stocks pending the numbers consolidate.

What you need to know in financial markets on Wednesday, April 14:

1.Coinbase goes public, Bitcoin and Dogecoin hit new highs

Coinbase, the world’s second largest cryptocurrency exchange by volume, will go public through direct listing, a landmark development that will drive cryptocurrencies toward mainstream financial.

The reference price is in line with the Intercontinental Exchange (NYSE 🙂 Group and London Stock Exchange It is set at $ 250 per share, more than the Group (LON :), and the value of the company will be $ 65 billion.

The company said earlier this month that it recorded revenues of around $ 1.8 billion in the first quarter of the year. It rose 800% from last year, thanks to huge increases in Bitcoin, Ether, and other digital currencies.

Dogecoin, which started as a joke when it first went above $ 64,000 and was highly praised by Elon Musk in recent months, has risen 75% without a significant price trigger.

2. Banks and luxury consumer groups start the earning season

The first quarter earnings season begins. Pre-market JPMorgan, Wells Fargo (NYSE 🙂 and Goldman Sachs reports. All three are expected to report large increases.

JPMorgan and Goldman are expected to benefit from favorable capital market trends, especially through the enormous increase in SPAC listings. This will aid M&A (merger and acquisition) consultancy business.

French luxury consumption groups LVMH and Christian Dior were also impressive. Both reported that year-over-year sales rose sharply as their wealthy customers shifted their spending from travel and leisure to handbag and fashion. Shares owned by Gucci Dry He’s seen record levels like (PA :).

3.Exchanges earnings reports and calm before Coinbase, Powell will speak

US stocks are steady ahead of key bank gains. Eyes as a representation of the health of the US economy, especially in JPMorgan and Wells Fargo.

It fell by 10 points and rose by similar amounts. The Nasdaq gained 0.2%. They continued to benefit from the supportive tone of Tuesday’s bond rally after March inflation failed to create a negative shock effect.

In addition to banks Bed Bath & Beyond (NASDAQ :), Hooker Furniture (NASDAQ 🙂 and Infosys (NYSE 🙂 will also submit reports. Fed Chairman Jerome Powell will speak at the New York Economic Club, but it is unlikely to provide any new insight into the central bank’s mindset.

4.J&J vaccine poses new threat to EU vaccination program

According to the Italian newspaper La Stampa, the European Commission will not be able to renew their contracts with Johnson & Johnson (NYSE 🙂 and AstraZeneca (NASDAQ 🙂 when they expire.

J&J will cease distribution of vaccines in Europe on Tuesday. US health officials have recommended stopping the use of the vaccine while investigating the possible link with a rare and severe blood clot. Both vaccines are based on adenovirus-based technology.

J&J had contracted to provide more than a quarter of the block’s total vaccine program to protect more than 50 million people in the EU in the second quarter. Hence the threat of delaying the acquisition of herd immunity, something that could seriously undermine the bloc’s attempts to save the summer tourist season. EasyJet said it expects to fly at 20% of its total capacity in the three months through June, compared to 14% in winter.

5.IEA raises oil demand forecast, EIA stocks will be shared

The International Energy Agency (IEA), like OPEC, raised its global oil demand forecast by an average of 230,000 barrels this year compared to its March forecast.

However, considering the ongoing winds related to the epidemic, it pulled most of the increase to the second half of the year. The IEA said it expects a quantity beyond what the OPEC + group has agreed to supply will require 2 million barrels of more capacity per day to be online in the second half.

Up 1.6% to a 10-day high of $ 61.17, up 1.6% to $ 64.70. US government stock data will be released at the usual time, and it is expected to have experienced a 2.9 million barrel decline in past crude inventories.

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