Carlsberg 🍺 Stocks mixed 📉 Focus: EURUSD, Meme stocks, Crypto 🔮 Earnings: Coinbase, Roblox 🎮

FlowBank's hand-curated fresh financial news [header_noDither] 09.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_1842895303] Carlsberg raised its 2022 earnings forecast after stronger sales in Asia and Europe outweighed higher input costs. The Danish brewer also expects organic growth in operating profit this year to be in the high single-digit percentage. The upgraded guidance shows consumers continue to drink beer despite higher prices now that bars and restaurants have reopened. [Start Trading](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_r2-MK5V1-WJV7CgWCyW3f344J4Vw1s6W3kswd79c249BW1LrhGp8dyR3qW78YxDn6_8Z57W7ZVLgs4YYYDBW3zKsDR6g4ZVMW1DWNRG73h9k8W3TYTF82Gz31pVV5x0W6rF5GJW3djR5K71gRLFW7SvcYH5s2sLpW1NvZ8x4DXJbrVd3gr02cB2KWN2Rdxqhclh4vW68-XyN6ksM_wN5R3H1bS2YGGW7qVw7H58mNBxW3nW9C46sSjBgW4Bn4fG2c-FjbVGzrCF8KRb2032P61) Trader's Corner In focus • EURUSD struggled to advance above 1.02 despite broad weakness in the dollar. A positive surprise in today's US unit labour cost and/or Small business optimism could take the pair below 1.01. • Meme stocks are back. Bed Bath & Beyond, AMC and GME are showing shades of last year's frenzy. Could it be another short squeeze? • Cryptos will also be an area of focus. Coinbase earnings and forward guidance, in particular, will be closely followed by crypto traders. Economic data • US NFIB small business optimism, Unit labour cost • EIA short-term energy outlook, API weekly crude oil stock Earnings • Emerson, Sysco, Alcon, Plug • Roblox, Trade Desk, Coinbase, Unity • Transdigm, Warner • Bentley, Intercontinental • Hyatt, Ralph Lauren Crypto • Bitcoin bounced off the 20-day exponential moving average, with buyers pushing the price above USD24'000. Ether's momentum also picked up, with prices hitting above the 1'800 level at one point. • Schwab Asset Management is launching its first crypto-linked ETF, with exposure to companies that “may benefit from the development or utilization of crypto". The ETF started to trade under the ticker STCE. [09082022] [Start Trading](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_r2-MK5V1-WJV7CgXyHW2DX3Nk8J0Zb6W2417bX5xSRLZW3sbZYw4kQdgTN3q1vmpjnql6W3CRhQm3bgvBwW3lHsVp1zVh8BW2Qd0rT2ZXFRjW1_-dlX20BHnbW3T3HBc3n9pxhW8W8x_-4m7kdVVbVzDg6gtH7gW7XZpB_6X42PMW34KRZy7bDD88W1T1HjT1T6XbvW4brjdN14gVHpN6jL7vpMC1cFTzLT62QcS3pW99gWrB79FyldW4m-KXl4vNK7TW7tN5wj63Ml0K35pK1) Market Recap Stocks retreated as a gloomy forecast from giant chipmaker Nvidia weighed on technology shares. The S&P 500 wiped out an advance of as much as 1% despite news of the US Senate passing a key tax, climate and healthcare bill. Meanwhile, copper (COPX) and gold miners (GDX) extended gains. The US dollar declined ahead of Wednesday's US CPI data. Treasuries edged higher, on traders increasing bets slightly of future hikes. Oil pared early session losses, closing above USD90. This morning, S&P500 futures are slightly in the green, while Treasury yields are pulling back. WTI has reclaimed USD90 ahead of EIA short-term energy outlook and weekly crude oil stock data. Chart Of The Day Looking at technicals, the 50% Fibonacci retracement level of the entire decline in the S&P500 stands at roughly 4'231, or roughly 1.7% higher from here. Since 1950 there has never been a rally that exceeded the 50% retracement and then gone on to make new cycle lows. Therefore, the past performance suggests that if the S&P500 were to exceed 4'231, we could assume June was the low for this market cycle. [S&P500 Index 03.08.2022](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_72-MJQV1-WJV7CgVB9N4yRbCcM5FJ8W4Txx9W4c7jt2W3HfV-C4QvpXhVK7MxM4V26gdW2zQYB91YJfRxW8nVttY3HWHPtN7BwTPRVqTDKW18sTPS8pB8RMW1h8TjQ6bT0fXW8h46Df2wHnlWW7sy1rN957Y1gW6_chg-39FvpFW15QVj51H3nMBW4x8zq54mR1f5W3tBHJx34MsjCW5WlZ218gxRryW4JZjlW5lxfrGW13r4yt7HtdFR3pDT1) FlowBank Blog Key takeaways from earnings [shutterstock_1569791638](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_r2-MK5V1-WJV7CgKGkW687HjT59FM0qW4G9cCF2bwN9zW5_0Wln94pM-1W6W79Hq7HqbTdW8D4hPk42RPh8W4_33098CRC5cN5h4PJTSQYk8W3S85lL6ZdZLcW4smdpD3tnz8_W3f0hM43HGSpfW7C4h4R6qyH3LW2Xn5pR5DmkcgW4TTh3j58-hnrVL4JlW4bwQ9tW6N539t42PBR7W4wXH3S3PZX1hVfc_bC39rmcGW3Kk7gy76K1LGN47DhXNC7pSdW6Mr3-k58NYt33qgw1) More than 80% of the S&P 500 index's companies have reported second-quarter results so far, and despite fewer earnings beats than last year, stocks are still on average 13% higher since their June lows. Why are investors cheering second-quarter news? Read More [Stay on top of market moves with our LiveWires](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0-S2-MJwV1-WJV7CgL_WW8GQ8z_5MwBTfW875FQF1PkjmkW3y4xLN2Yh-L2N5rN93yBVyrGW17Ylqs6Cz0mVN2ZrL8tbfKb_W2PyCZK4M00bMVGktjC5FPgW6W2l5vFM2RLXH_W5hk7Ln7XlL7CW5rDSLK2bTxh9W8ZpF24323FptW9cC87v8tpNG0W1n7Msp1-8cLTW5Vvw5h7VhBhMW6PC8M76W0Dyn3mdh1) [Don't miss our Popular Themes](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_72-MJQV1-WJV7CgYkbW6Y7VQY1sh0STW7GpFLX24QyHXW7L0TJy7ls4rtN4ZsS2J3_sClW780NQX87_qcwW6J7Ydx3KSgh4N5d204yXhkRgV6dz414NwZmHW2gs27m5nLkLjW1wYCY42XjvjKW7lvYJd3QHXhxVVmDM54RQ36yW2K8mlC3TkG-5W4NgbFQ107BX6W5cpB0063hmwHW1-TjtS7rdC12W1Y8yBW5CVwzhW2M_zjm1PPB7T33Q11) [Read our latest Research](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_72-MJQV1-WJV7Cg_1-W80zBJC8Pq99cW6xwCPZ2TZKqdW4MJSJS2CX7hPW3b4mBN6ZBHq6W5mVqkg4P_Df7W6D0G8k6sKt7GVgzVDV4pySm2W3fRPPq5NQMWtW86GpkL7RyXWFVWLvsl4hrlSTMf1dq2lCLh6W4jx1_27BJyVpW3gkR-848hJWCW5kYGPX68cKzKW2pz56B2zCP7DW3hckSf10GV4YW68rvHW8MLn5kW8sbJbV3xppNd3pkF1) [Follow us on Flow TV](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0-S2-MJwV1-WJV7CgLzCW41Z1VQ20Gny5W6RgWkT7fF4C7W37WlB_3yc4CjW2_94FB3dpN7nW5_7RvK4svqsXW2MGv0N9jF8rRW6-jmVm1gQRf8N3FX2fHF_HhkVZ-05Z4SyWlLN8ppfy1H7tdXW1w_Gr66m3cFVW8ThLvk58brryW18dTmV5YY24BW7r19Tj29k-HrN5Q-YDyKbHLyW5rFStY8ftvgd353r1) [flowbank-logo-2022-green-3] Facebook [LinkedIn](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_72-MJQV1-WJV7CgFqPW6Z35qV39f6scW4fHlm4584F2XW6w3cjp7JW52zW1dk0Pr6GFPq7W28Xm7520N0yDW2Rsx_713wbXjV1YSpl3gSn9QW1-x2h191HJSYW9lRQ_J1yXx0lW5cQ77-68fBb0W4_lJ2h89rnSWW3gMXXb2bYlMnW95cBb_2f8_08W307Fx63JtdjSW8qNVB24_CZlYW5X2r9k2RcsypW7NrJ4p6mfDxhW7zfxYF5lwJ8w3bgW1) [Twitter](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0-S2-MJwV1-WJV7CgP6rW7rvlS36cQpjfW7-w16118WCcJVTftM36K1g9wW2PWDVl1J2hbJW3DhCdW3t3_bLW8gXPLT2J2qDsW1-b3dn7Jpf2cW23z6F_1j2-SdVScYn72zlJDzW6JdMLC6G7LNXW4KkWcP8ZmsSQW5dg6Wt1cs7sHW8N9bjK1HdhTYW8dBHgN16_Cy8W5zjbDQ5Pv1yMW3cn1ls1VD0lF38Cp1) [Instagram](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0-S2-MJwV1-WJV7CgM3gW2CNC-p5Tyh1gW1QynMf1kZz2sW4DjtY91w4lnRW2QJqd31dMhFdW8J4GMr4cMJ6pW1HzjRd4Lj5_2W2xCkKD4x54q6N2L6pklNycBSW5CwpnK7b5_DFW18DzdM7vJZ4hW3WH0mS1nFl7FW3KZ0ZQ90d4btVtKWVk8dm-mzW8lWtQF6JllgkW3fxbgv3r6rbRW5YtDfT1SXf413gWl1) [YouTube](113/cXx8Z04/VXcxBr9lNF3bW4JZ5fk2hvjrsW2SWDgt4NvNJVN22w0_r2-MK5V1-WJV7CgTbtW2-B4lv3P7P0gW1dnBng2Bhp8lW2R53Z464f0MpW4fP0xn1LpMlKW3y-ht-8gfY_LV-ZDlx7k9swyVV7QzB3BJBZRVG_hYj4gC2WdW8xR_4N8LzlXkW7Y80gl88w9z2W1n4BLg5mF8PcW980RVZ8FqQffW4kPDCd25t1ppN75JcP5gHmDPW1cghdN5b6PFlW3BngFl7PXNKlW8NsRQ85P63KMW5kr4645RJCJMW8cMxl_2ddpVYW5yfgl57w70kV312j1) FlowBank SA, Esplanade de Pont-Rouge 6, P.O. Box 1303, 1211 Geneva 26, Switzerland, +41 (0) 22 888 60 00 [Unsubscribe]( [Manage preferences]( This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error, please notify us immediately, and delete it from your system. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. Although we scan attachments, we advise you to carry out your own virus check before opening any attachment.