The start of the season of financial statements of US companies for the second quarter
Dear traders,
This week starts the season of financial reporting for the second quarter of US companies. The main among them will be reports of US banks JPMorgan Chase (NYSE: JPM), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC), which will be published on Friday.
According to Thomson Reuters, US companies’ revenues for the second quarter will grow by 20.7%, slightly down from a 26.6% increase in the first quarter, which was the highest increase in seven years as a result of tax cuts in the US.
However, the quarterly reporting season is overshadowed by tensions in trade relations and its impact on corporate earnings. Analysts are going to analyze carefully the forecasts of companies to check whether they have changed them for the remainder of 2018.
On Friday, Wall Street didn’t pay attention to the introduction of duties. Investors were ready to impose of duties and have already put them into quotes. The S & P 500 index rose to a maximum in two weeks, in part due to a good employment report in the US. However, investors believe that the further escalation of the trade conflict will lead to increased fears. (Investing.com)
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