eToroTeam @eToroTeam: "📰 WEEKLY ANALYST: DEALING WITH..."

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📰 WEEKLY ANALYST: DEALING WITH UNCERTAINTY 📰 What a week! The tech rout continued, dragging Nasdaq down 4% and S&P 500 down 2%, marking the worst week since April. Despite this, Dow Jones (+0.8%) and Russell 2000 (+1.7%) managed slight gains. A glitch at CrowdStrike caused ripples at Microsoft, other corporations, air traffic, and hospitals. The European STOXX 600 shed 2.7%. Adding to the chaos, President Biden dropped out of the upcoming election under pressure, with Vice President Harris likely to step up as the Democratic candidate. Markets remain steady as they assess the potential impact of a 'red wave' in November. In China, the PBoC lowered the key interest rate from 1.8% to 1.7%, boosting Chinese government bond prices. 🔑 Key Highlights for the Week Corporate Q2 Earnings: 138 S&P 500 companies report this week, along with major European multinationals. Crypto Markets: Ethereum spot ETF starts trading on Tuesday. Trump speaks at the Bitcoin Conference in Nashville on Saturday. Olympics: The 33rd edition kicks off in Paris on Thursday, with investors watching Nike and Adidas closely. 🌟 Magnificent 7: Slowing Profit Growth Profit growth for the Magnificent 7 is expected to slow to 29% in Q2 2024, down from an average of 35% in 2023. Despite this, their profits are still projected to be six times higher than the rest of the S&P 500, which is expected to grow by only 5%. Investors will scrutinize results, especially with Alphabet and Tesla reporting soon. Meanwhile, Netflix impressed by adding 8 million new customers and raising its annual revenue and profit margin forecasts. 📈 Fresh US Growth and Inflation Data Thursday: Expected US GDP update for Q2, with a consensus of 2.0% growth, up from 1.4% in Q1. Recent surveys indicate rising recession risks. Friday: Core PCE rate, the Fed’s favorite inflation measure, is projected to fall from 2.6% to 2.5%. 📝 Big Earnings Week Ahead In the US, 138 S&P 500 companies report earnings, joined by numerous European multinationals. Here are some highlights: Communications: $GOOG (Alphabet), $VZ (Verizon) Car Makers: $TSLA (Tesla Motors, Inc.), $GM (General Motors Co), $F (Ford Motor Co), $PAH3.DE (Porsche Automobil Holding SE), $STLAM.MI (Stellantis NV), $MBG.DE (Mercedes-Benz Group AG) Luxury Goods:$MC.PA (LVMH Moet Hennessy Louis Vuitton SA), $RMS.PA (Hermes International), $KER.PA (Kering SA) Consumer Staples: $CO, $ULVR.L (Unilever), $NESN.ZU (Nestle SA) European Banks: $DB (Deutsche-Bank), $LLOY.L (Lloyd's Banking Group PLC), $BNP.PA (BNP Paribas SA), $SAN.MC (Banco Santander SA), $UCG.MI (UniCredit Commercial Bank) Technology: $SAP (SAP SE ADR), $IBM (International Business Machines Corporation (IBM)), $TXN (Texas Instruments Inc) Other Sectors: $V (Visa), $AZN.L (AstraZeneca), $BAS.DE (BASF SE) For more information and updates on the markets, don’t forget to follow our eToro Analysts: @AntoineFraysse , @majorusa, @Analista-eToro, @jwesth, @xmolinaj, @JPvOudheusden, @joshgilbert9, @pmajtkowski, @samnorth7, @Nezatron, @Bretman Stay tuned for more updates and insights! 📊🚀