Look ahead: Bellway; Hermes; PepsiCo; Baker Hughes
Luxury and lifestyle likely to be the focus with earnings from France’s Hermes and a trading statement from Bellway.
Watch out to see if PepsiCo’s quarterly numbers show consumers are beginning to feel the impact of extended periods of elevated levels of inflation. Plus, the Baker Hughes oil rig count comes amid recent data showing a surprise fall in US fuel stocks.
(AI Video Summary)
Fed rate cuts and oil updates
In today's "Look ahead" video, Angeline Ong talks about the events happening in the week, like the earnings reports and comments from Fed speakers. She explains that people used to think that the Fed would lower interest rates in the spring, but now they believe it will happen later. Ong also talks about the Baker Hughes oil count and the latest news updates in Israel, and how these things affect oil prices. She says that crude oil prices are going up, but there is a level of support at around $76 that is important. Ong also provides details on Brent crude.
Bellway's upcoming trading statement
Moving on, Ong discusses Bellway's upcoming trading statement because Barrett Development recently bought Redrow, and this caused the shares to go up a lot. She mentions that the property market in the UK has been struggling because of high mortgage rates and low demand. Ong looks at Bellway's upward trend channel and wonders if there will be a breakout from this trend.
Updates on Heremes and PepsiCo
Next, Ong talks about Hermes, which is a luxury brand that can show us how consumers are feeling. She mentions that LVMH and Remy Cointreau have positive outlooks, and this is good for the luxury market. Ong tells us to pay attention to what Hermes says about the US and Chinese markets because the luxury segment usually does better than cheaper products.
Lastly, Ong talks about PepsiCo's fourth quarter earnings report. After that, she tells viewers to check out other market news updates on IGTV.
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