TEHRAN, Jul 22 -Wall Street’s main indexes were set to open higher on Monday as investors eyed fresh trade developments between the United States and China during a busy week of corporate earnings, with results from marquee names including Facebook and Amazon on tap.
TEHRAN, Young Journalists Club (YJC) -Second-quarter earnings started off on a dour note last week as results from major banks raised concerns about profit growth in a low interest rate environment.
“We are going into another round of earnings which is going to set the tone for markets, and U.S.-China trade talks look like they can go forward and that is a positive thing,” said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
The South China Morning Post reported U.S. trade negotiators will likely visit China next week for their first face-to-face talk with Chinese officials since the G20 meeting, when Trump held off on fresh tariffs on Chinese goods.
As earnings season progresses, profits at S&P 500 companies are now estimated to rise about 1%, according to Refinitiv IBES data, in a reversal from earlier expectations of a small drop.
Facebook Inc (FB.O), Amazon.com Inc (AMZN.O) and Google-parent Alphabet Inc (GOOGL.O) rose between 0.4% and 0.6% in premarket trade, and are set to report results this week.
“I think their results are probably going to be fine, but they will need to address their problems on impending regulations and how they are going to channel that, so that it doesn’t impair their ability to grow money,” Forrest said.
Source: reuters
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