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© Reuters.
Investing.com – Here are the top five things you should know about the financial markets on Wednesday, July 17th:
1. Bank of America, Netflix, IBM release income
The series of bank results continues on Wednesday with the publication of quarterly figures from (NYSE 🙂 in anticipation of the opening of markets. Investors are likely to focus on the bank's cost reduction efforts as well as its investment banking performance.
After the close of the market, Tech will occupy a place of choice with the first report FAANG of the season (NASDAQ :), in which the focus will be on the growth trends of the number of subscribers and on the cost growing content production.
(NYSE 🙂 will also release its quarterly numbers, in which the goal will be to determine whether the company has been able to return to revenue growth in its core business, after falling 5% in the first quarter. Markets will also seek insight into the impact of the costly acquisition of Red Hat.
2. The G7 focuses on the technology tax
G7 finance ministers have started a two-day meeting outside Paris and are likely to discuss the issue as they try to find a united front on how to tax them.
G7 governments fear that decades-old international tax rules have been replaced by the emergence of companies such as Facebook (NASDAQ :), Amazon (NASDAQ 🙂 and Apple (NASDAQ :)), who record profits in low-tax countries the source of the underlying income.
France adopted last week a new tax on digital sales, intended for large companies, despite a. to launch an investigation that could lead to commercial rates in response.
3. US equities should regain records
US futures have signaled greater openness as equities look set to return to record lows. US President Donald Trump's comments on Tuesday that trade talks with China still had a long way to go, began the bulls' enthusiasm, although they suffered a five-day defeat.
gained 33 points, or 0.1%, at 5:28 am ET (9:28 GMT), rose 5 points, or 0.2%, while gaining 19 points, or 0.2%.
While corporate profits are likely to dominate trading, markets will also be able to test the health of the US real estate market with the June release and at 8:30 am (ET) (12:30 GMT).
4. Brexit difficult, electoral risk undermines UK badets
Fears that the UK would leave the European Union without an agreement weighs the pound sterling against the dollar during early morning trade in Europe.
The concern over a "Brexit without agreement" has increased, with conservative leaders Boris Johnson and Jeremy Hunt both abandoning the so-called support of Northern Ireland, a key element of Withdrawal agreement intended to put an end to the disruption of the economy after the Brexit. The EU has repeatedly stated that it considers technical support as an indispensable element of any agreement. Johnson, the bookies favorite to take over, is also planning to call a general election next year, according to the London Times.
fell to 1.2383, its lowest level since April 2017, before regaining its balance and losses.
5. The oil is recovering from the Pompeo induced fall before the inventories
After falling more than 3 percent on Tuesday, US Secretary of State Mike Pompeo said Iran has said it is ready to negotiate on its missile program. Iran has rejected the characterization of Pompeo. Even if this were true, the ballistic missile discussions would still not solve the problem of Iran's pursuit of a nuclear weapon, which is the main bone of contention between Ireland and the United States. # 39; West.
Tensions between the two countries over Tehran's nuclear program have supported oil prices, suggesting an escalation of the situation.
The market will be focused on weekly publication at 10:30 am ET (14:30 GMT) while there is expected to a fifth weekly decline of 2.69 million barrels. The Energy Information Administration report will also include data on US production that will be badyzed to take into account the threats to the fragile supply / demand balance.
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