American Express surprises👨‍⚕️ Focus: FOMC & US PCE📈 Earnings: Big tech, consumers & energy stocks💼 Oil 🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 25.07.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Amex] American Express (AXP) rose as much as 6% following a better-than-expected earnings report. The credit-card company said second-quarter revenue rose 31% as cardholder spending on travel and entertainment topped pre-pandemic levels in April. However, shares pared gains during the day, closing near USD153.0 (+1.9%) on concerns over rising prices and fears of a recession. [Start Trading](113/cXx8Z04/VWJpvy40p3BsW7Dtxzq4fK-3SVVm64t4MWDP4N3Qcf9c3q3n_V1-WJV7CgF71VxRPm51g_BGdV5HxxL49jF4cVW84wd9dPM73W3V_N6k3NQMBGV-nft74mRN9KN4z9bXN3cB6gW91Px6N2JVKRzW5ckKsT5MhqHmW4B0_kL7ZJ7k8W36XQrP16l3_dW1-Zf_k4QfRC2W28S7H098yFRGW7LhFMm85JJMmW5WYqK99d5CtWW7W7Xq07ZpZD9W1LwMLy77crmTW3gg4wk4FBXNfN2LjnmwFnPwRW8TBy2R4XKBy4W2Z01DJ2xGLW3W60qqwp7CzH9vW5WD4xk8WzPx7W3SkK-S5J8szZW6YDnNY2Hk8yzN3JjHvGtwTFCN562L99jL3xV32vx1) Trader's Corner In focus this week • Volatility is likely to increase this week as investors await Wednesday's FOMC meeting and US inflation data on Friday. • Earnings: Big tech and consumer stocks are set to divulge their results for the quarter and potentially offer their take on US consumer health. • After poor performance during the last days of last week, oil prices are another area of focus. Comments during earnings from big oil and gas producers this week could impact the sentiment. Economic data this week • Fed interest rate decision, FOMC press conference • US core PCE price index, consumer confidence, GDP, new & pending home sales, durable goods orders, inventories, jobless claims • Germany: CPI, GDP, unemployment, Ifo business climate • Eurozone GDP & CPI • US crude oil inventories Earnings this week • Microsoft, Alphabet, Visa • Apple, Amazon, Meta, • Coca-Cola, McDonald's • 3M, GE, GM, Enphase, P&G • Mastercard, Hermes • AbbVie, AstraZeneca, Sanofi • Pfizer, Merck&Co, Thermo F. • Chevron, Exxon Mobil, Pfizer • Intel, Qualcomm, Caterpillar • Ford, Boeing, Airbus, T-Mobile Crypto • Bitcoin’s price is retreating 3% falling below the 22'000 level after posting its biggest weekly gain since March. Crypto-exposed stocks are likely to be active on Monday. • Risk appetite on Wall Street is somewhat improving. Over the last 10 days, retail traders have scooped up nearly a billion worth of shares of crypto-exposed companies. Marathon Digital, Coinbase, and Riot Blockchain showed up among the most bought assets. [Screenshot 2022-07-24 at 15.20.38] [Start Trading](113/cXx8Z04/VWJpvy40p3BsW7Dtxzq4fK-3SVVm64t4MWDP4N3Qcf9c3q3n_V1-WJV7CgMtlW4RZdrl5XZFhbW10g7vF5X6Y7fW6ft-RY1NDCjGN7YcSjMvbrz9W4Z49gb1-2L43W5HPVRd5JpL0HW3GdwFl7Mxx8NW3w-Bv366_fqnW28mCRR1-MQPhW6sQTRP4jkFnmW2W9NGv1XZZl8W8fYdqB2js5wtN3G4CbtVnT_rW8f8pRQ2VcGllV3gxPX2pKML1N6HYvS_bcj2zW4_qtjw2FR256W6xlYbf45Ww9nVrnKrl1SmMB_W3DcrlM8MwptHW39Bdp_1PC4P0W8DB1g626z29RW5mMJ4v6bdF3NN8zG7WjwFx3jW4WKSfG2VhKdgW8zrzQX6rpMNF3b3P1) Market Recap US stocks ended the week 2.5% higher despite Friday's fall, prompted by disappointing results from social-media firms and weak economic data. Seagate's earnings miss and weaker guidance also weighed on the sentiment. Other hardware and storage companies including Micron and Western Digital fell in sympathy. Long-term Treasuries rallied as traders dialled back bets on Federal Reserve hikes. Gold closed the week 1% higher on a weaker dollar, and Crude oil (WTI) edged lower on softer economic data This morning, US and European futures are slightly in the red as a big week of economic data releases and earnings reports kicks off. The dollar is gaining strength, while oil (WTI USD93.7) is extending losses. Chart Of The Day The Nasdaq underperformed major benchmarks, closing down 1.8% after disappointing results from Snap and Twitter weighed on other technology sector giants. Snap dropped 39% following its quarterly results which pointed to a decline in advertising demand and growing competition from applications like TikTok. [asd-Jul-22-2022-02-45-21-72-PM](113/cXx8Z04/VWJpvy40p3BsW7Dtxzq4fK-3SVVm64t4MWDP4N3Qcf8D3q3npV1-WJV7CgHg5W3LYm604v7g23W8dPb3l7XM6-nW5Rvxjl8kGNy1W1FvLPv8pQqMgW7n-yXR5dJdPCV4HnDJ7tV1vhN2fNx7Q4PF37W8z68_w2q6BvYW3_8JFn6LXyc3W3zKxZd7-Dt9pW8P8KFt6K09YmVcSZ3M2y9WvxW5RpJf96Tg9YhW1WFhRS6m8dbsW7tjRq11Z8k_0W95d1Rz8Bhh-LVxM1cC4YMynJVkw25m44wcGQW8Qk9357z5WDrW2QJJKB7bsk6BW7Pl4Y-1bYzYrW3bj7-M2p9knb313b1) FlowBank Blog What Will it Take for Gold to Turnaround? [girl-blowing-gold-confetti-glitter_t20_Almo40](113/cXx8Z04/VWJpvy40p3BsW7Dtxzq4fK-3SVVm64t4MWDP4N3Qcf9c3q3n_V1-WJV7CgF8gVwtzLj35DLTTW5gdKbJ8lgvM6W5SMb1N3tdBzmW5Dq1ph8QqRJJW1M9FB48rZ_JdW3KnZCL6PP8nmW2G59b-7LbV2fW8K991Q280_nQW2qcC0619v5thN7js0Q51KMpCW4ldpND6Ds_GqW6s71Ff5k_wWkW2wDY-H5S6WRtW5llvVr2J59C8W2wfBbV3NkYKsW8Q6_QT8qDth0W1C2cdg6B6SyCW4jkC3317t-fnW8YBZ4w8WD7z5W1qFSHm12fT9NW4grGVj5p19QTW2rBmLZ43LcS3VC6L3C8Q4tZtW8Qhdfk7dl0DqN4-JP8bchhqRW99Z1km3m4dCn3hHn1) Gold prices have suffered sharply across 2022 with the market pulling back from initial strength to sink around 18% from YTD highs, now down around 7% from the yearly open. 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