Today the focus is on promising Baidu data, changes in JPMorgan’s top management, and positive news from Wall St.
The weekly US Crude Oil Inventories measurements are released. Forecast: 1.680M. If the results are higher than predicted, Brent could receive a negative push.
Assets to trade: Brent
Wall Street’s main indices are set to open higher as Walmart and Home Depot show better-than-expected results. Affects S&P 500
Amazon is in talks to buy MGM movie studio, striving to expand its media reach. Affects Amazon
Baidu shows promising quarterly results, beating Wall Streets’ expectations on its cloud technology and AI services. Affects Baidu
IBM is in talks to purchase a Salesforce consulting partner Waeg, deepening the company’s expertise. Affects IBM
JPMorgan announces several changes in its leadership, experts are looking forward to seeing what it means for the bank. Affects JPMorgan
The oil had a rather good showing lately, nearing its 7-year high. As demand rises and more and more countries are opening up from the pandemic, we are seeing Brent moving up, though the latest interest in electric vehicles might cause a tumble in its price in the long term.
Brent is in the correction after its sharp fall after testing a resistance level of 70.
While the index opened high on news, now we are looking at the correction, with its price going to yesterday’s level.
The pair is currently in the correction, trying to reclaim some of the losses that it suffered during its massive fall earlier today.