European update – Markets unmoved by earnings

Markets mixed as earnings season hots up

It’s been an interesting morning in financial markets, not that you’d guess that based on the mixed trade being seen across Asia and Europe.

Source – Thomson Reuters Eikon

US futures are pointing to a similar start on Wall Street as well, which you’d typically associate with light newsflow but what we’re currently seeing is anything but. We’re getting earnings reports from a large number of major firms and the report card for the US has so far been far better than expected. Another 62 S&P 500 companies will report including Amazon, Intel and Ford so we’re not going to be short of things to talk about.

Failed M&A deals is another common theme today, with the Sainsburys/ASDA merger being blocked by the CMA and talks between Deutsche Bank and Commerzbank being abandoned.

Economic Calendar

For a look at all of today’s economic events, check out our economic calendar.

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.