Pepsi lifts guidance 👍 Investors weigh risks 📉 Inflation data 🔥Delta Air Lines ✈️ UK GDP 💡 Oil outlook 🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 13.07.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Pepsi 12.07] PepsiCo, one of the first major companies to report earnings increased its revenue growth forecast to 10% from 8% previously. The soft drinks and snacks company said consumer demand remained robust, but it expects headwinds from the strong dollar. The stock fell 0.6% and is down just 2% year-to-date, versus 7% for its peers, thanks to its earnings stability and strong business momentum, despite the macro headwinds. [Start Trading](113/cXx8Z04/VWk7x59hJKSKW6gLQgS7djXKcW6WXg814MqWkjN61zzVw3q3n_V1-WJV7CgGx3W3N7x-D6Wg_ClW8KpZ95155CW2W21vp3F9kQQ0-V_J-tr52J04fW3V_kmH8lmCkQW748m2n7swrF6W85NWM83-FfS2W3WfrXG98pm83W3HNKFg2_KLbTW803__k4h_5HLW94-WCx1tvd1bN3H28LWdwq3wW7Kb33B4FM_sHW18C-Pm2-BJv0W3jjwjx6P4fVZW3CWFY_4Y6ZJxW3Qp5ff5ZVgrBW2PVV4f1nkm4VW1kp71w4RsDsHW6JTXDm3fqG31W7z5wmm6-FKt2W8vcFzh8px7LMW4sfgmJ1Q-rCpW6kVwKS8y4gW2W10v8lb1nrNy_W2ksZy08HMpNc35DT1) Trader's Corner In focus • Inflation data in the US, the consumer price index (CPI) is set to dominate headlines as investors focus on whether persistent high inflation will continue to pressure the Fed to tighten aggressively. • The euro may be more volatile following European inflation data, which could trigger speculation around the path of tightening for the ECB. • Earnings from Delta Air Lines could offer investors clues on the strength of the consumer and how airlines are coping with the 'reopening'. Economic data • Inflation (CPI): US, Germany, France, Spain • UK GDP, production data • Canada: interest rate decision • Oil: inventories, IEA report Earnings • Progressive, Fastenal • Delta Air Lines Crypto • Ethereum edged ~8% lower on Tuesday, at ~USD1'050, still above the psychologic support level of 1k and above the 18th June lows of 993. Risk appetite remains low and highly sensitive to the overall sentiment. • GameStop (GME) launched its long-promised Ethereum-based NFT marketplace. It has artwork NFTs and it plans to add video game items. [Table 13.07] [Start Trading](113/cXx8Z04/VWk7x59hJKSKW6gLQgS7djXKcW6WXg814MqWkjN61zzVw3q3n_V1-WJV7CgClbW8Z80Y81r_sS0W2VbrfR6BthbmW5WDh1n8V7nrGW1JNmXK4ZxKMMW1y6K9432NbrBW7QLjrv4NP3l6VcZ6DG3jSyjFW9dNzHN6h8FzzW93VbZl6r9JqrW7G7nny658xmgW3PDrVY66sQNHW7yv8db5vYXJ8W4sky-P9l9ShBW3xknt85DfGPYW2SGfnd6WpWsMN6sJjmh9RX6dVcXw5P17g56wW1ZMXKF6lP3bNW7dHTBJ2yD-1TW4k3qKP9cgZ69W8S4MQf9kQsLlW1bsxY_1hq90MW2psSl_3kQqPTW8GKv6D7ccq0bW7KPMs74k9FYNW2M-yff96K9Nq3dpC1) Market Recap US stocks fell on Tuesday largely due to fears of recession, and concerns about upcoming earnings. A jump in Covid cases in China and a plunge in the German economic sentiment index also contributed to concerns. European stocks nonetheless still managed to close in the green, and the EURUSD got close to parity, before rebounding slightly. Yields fell slightly only and the inversion of the yield curve in the US is causing many to worry it is a sign of recession. Oil fell 8% to USD95.6 on demand concerns amid the economic slowdown and hope that Middle East producers could increase production. This morning, markets are steady ahead of European and US inflation readings. The dollar is holding onto gains and oil remains under USD96. Chart Of The Day Despite OPEC's market outlook for 2023 suggesting global oil demand growth to exceed the increase in supplies by 1 million barrels a day next year, WTI still fell 8% as traders weigh the number of Covid cases flaring up in China. Investors are increasingly factoring in lower global growth and odds of Biden convincing Middle East producers to increase production to ease the energy crisis. [WTI 1207](113/cXx8Z04/VWk7x59hJKSKW6gLQgS7djXKcW6WXg814MqWkjN61zzTX3q3npV1-WJV7CgRLVW7nY3QL8Pj5NYVf1-cx38VftvW58xJrx2P7_6DW4pqYRN3F_52bW8W-tCy4m-gHMW7W7JCt6-pL0zW4rSy8b3l3blRW7cX8_y59TbvjW5PJgHt44kWnDW2KGr9d8vq0WMW7RTrtg60wy4KW4DGqfT4j5cXQW79SxdG4LWH44MnKH7FSC4z2W8BqBTq4H6Qk7W3HGjxq4YGv_5W7JfCJn1ZCmKRW2KGRjY7BGzNGW2xKZq-6f0jy_W58jMzR2y3gSMN6W0NXw6rCHHW4wwCyk8F9tbQ390_1) FlowBank Blog Is big tech back? [Big Tech](113/cXx8Z04/VWk7x59hJKSKW6gLQgS7djXKcW6WXg814MqWkjN61zzVc3q3nJV1-WJV7CgJGKV-d3fB2tx_8KVzdPTQ98rL3yW7_chg_2DH5C9N1G2d3ZksJyVN87V4PmRpLbDW1-V6HD4yHbmXN408sZjqMT-2W3Cg94G13YCMsW7H2s9k33z7CrW1tKy4h7NZFXmW2XNHCN6Y-FBXW7MDZmS7bMQy-W3Gy_4G27QJCSW2BdNxK3ZLc5VW2hM_V53xmDN1W7ylxHR2RdG92W76V0gQ7Khk8bW2Lsrjg5ClJ_JW3YKbBM8NrhXmVF4BP91gfgMsM2YKD6fCvNRW542GLr5F8K54W8kCzj62KpdLfW12LyY21XxrCC3pDn1) The market’s focus is shifting from inflation and higher yields to global recession risks. Will big tech outperform the broader market in this environment? 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