Fed Debate and Earnings Palooza Could Steer Stocks Thursday

July 28, 2016 Share Print 0

Thursday looms large as the busiest day of the earnings season, with pharma, consumer products, big oil, financials and autos reporting before the market opens.

Heavy hitters — Amazon.com and Alphabet — are among those reporting after the closing bell. Facebook joined the high-profile winners of the quarter, rising 6.5 percent after Wednesday’s close on stronger revenues.

The market will also keep the debate going on when the Fed will hike rates again, after it provided no clues in its post-meeting statement Wednesday. It did, however, upgrade its view on the economy, and some Fed watchers now see a possible opening for a hike in September. Others, however, are sticking to the view that December is more likely.

CNBC

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.