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Today, we are excited to bring you the latest updates in the stock market and trading world. Let’s dive into some key insights that can help you make informed investment decisions.
Earnings Outlook Positive for Major US Companies – PG, AXP, SLB
Procter & Gamble (PG), American Express (AXP), and Schlumberger (SLB) are gearing up to announce their quarterly earnings on April 19, 2024. Procter & Gamble is expected to see a modest 3.65% earnings increase, while American Express projects a substantial 23.75% rise, and Schlumberger anticipates a 17.46% growth. These companies are outperforming industry averages, showcasing strong competitive performance.
Oil Prices Rise Slightly After Initial 3% Surge on Middle East Tensions
Following Israel’s military strike on Iran, oil prices experienced a temporary surge, with Brent crude hitting $90 briefly before stabilizing at $88.62 per barrel. West Texas Intermediate also rose to $84.10. The geopolitical tensions in the Middle East have also impacted safe haven assets, with gold hitting a new all-time high. The situation remains tense as both nations navigate the aftermath of recent military actions.
Treasury Yields Drop as Investors Seek Safe Havens
Recent geopolitical tensions have led investors to seek safe-haven assets, causing U.S. Treasury yields to fall. Federal Reserve officials, including New York Fed President John Williams, have maintained a cautious approach to interest rate cuts, citing economic strength. Despite robust manufacturing data from the Philadelphia Fed, the demand for safer investments continues to rise amidst global uncertainties.
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