Week ahead: Goldman Sachs; Bank of America; Netflix; Alcoa; UK growth; Gold
After JPMorgan, Citi and Wells Fargo’s results, the attention turns to earnings from Goldman Sachs and Bank of America. The earnings season shifts into higher gear, with results from Netflix, UnitedHealth, and Alcoa.
On the economic diary, UK growth and inflation data are the key ones to watch. Plus, find out why tastylive’s Tom Sosnoff is keen on trading gold.
(AI Video Summary)
Tom Sosnoff's outlook on gold
In the upcoming week, financial analyses will focus on industrial production in the eurozone, US retail sales, China’s Q1 GDP, and other pivotal data, with attention on the effects of recent US inflation numbers on Federal Reserve rate cut expectations. Tom Sosnoff, CEO of tastylive, anticipates increased market volatility, suggesting a 25-30% rise in expected moves, particularly highlighted by significant activity in the bond market due to lower prices (higher rates) and remarkable movements in gold and silver markets. Despite these shifts, Sosnoff downplays the impact of algorithmic trading on market dynamics, attributing more influence to market trends.
US earnings season kickoff
Meanwhile, cornerstone earnings reports from major banks including JPMorgan Chase, Citigroup and Wells Fargo, and companies across various sectors, including Netflix, UnitedHealth, and Alcoa, are anticipated, following a notable start to the US bank earnings season.
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