Failing to have read it, Grandpa Biden had to intervene in this tense social climate in order to reassure everyone: “The United States will not experience a recession” he said at the start of the week. Since then, driven by results which, although they may not always be good, have in any case been welcomed as such (s/o Amazon), the market has gained another 3% since Monday. The markets therefore seem to be recovering somewhat, end of the quote.
“In the stock market as in love, going from one extreme to the other is faster than you might think” – Our Fault Stars. The fleeting euphoria seems to have taken hold of the markets again in recent days. LikeAmazon, which despite losing cloud market share, sub-inflation growth and shrinking margins, gained 13.5% after the close. But in the land of Uncle Sam, even if the giant’s figures abroad are catastrophic – net sales down 12% – as long as it goes up in North America (+10% YoY), it goes up on the stock market. Fortunately, not everyone is entitled to this preferential treatment across the Atlantic. Meta Platforms also released yesterday. With operating margins going from 43% to 29% in one year, turnover falling by 1% and FCF halving, the stock lost 5%.
The results will continue and will play a major role in the direction of the market in the coming days. This evening will be published the results of the oil companies Chevron and Exxon Mobil. This will be followed at the beginning of next week by the results of S&P Global, Caterpillar, Starbucks, PayPal and AirBnB. The bulls could thus continue their rebound, but be careful not to wake up the barely dozing bear.
Source: Zonebourse.com