Today the focus is on Facebook facing a possible antitrust probe, Goldman Sachs cutting its economic growth forecast for the US, and Nvidia announcing its new service.
The Canadian Core Retail Sales measures (MoM) for June will be released. Forecast: 4.6%. If reading exceeds expectations, the CAD might receive a positive push.
Assets to trade: USD/CAD, EUR/CAD, AUD/CAD
Wall Street experts are concerned that Federal Reserve will start to roll back its massive stimulus package after the readout from its July meeting was published. Affects S&P 500
Goldman Sachs cut its forecast of the US economic growth in Q3 from 9% to 5.5%. Affects USD
The US Federal Trade Commission is expected to file an amended complaint against Facebook, accusing the company of breaking antitrust law. Affects Facebook
Amazon announced its plans to open large physical retail stores in the US, expanding its brick-and-mortar presence. Affects Amazon
Nvidia used its good earnings results to announce its new service, Nvidia Omniverse. Affects Nvidia
Nvidia has chosen a good moment to announce its Omniverse, as its strong earnings results attracted a lot of attention from big investors. With that and the growth in the company’s stock prices, we believe that Nvidia is in a good position to start this quarter.
While the company’s stock price is spiking now, we expect its growth to be very short-term, so be ready for it to start falling soon.
The index is moving upwards as it rebounds from its earlier losses, and we believe that this tendency will continue for today.
Gold is moving in the upwards-slanted price channel, and we believe that it is going to break out up.