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Breakfast Bites - Markets remain apprehensive
Microsoft & AMD report after the close; EA GDP growth stable; China's Politburo decisions fail to impress
Ayesha Tariq
July 30, 2024
Rise and shine everyone.
Markets are on edge as we progress through a big week. Asian markets opened lower ahead of the BoJ meeting, which is arguably the most important macro data of the week. Not only will the BoJ embark on the first stage of bond purchase tapering but, there is some discussion that a hike may take place.
European markets are looking better after GDP numbers and inflation, even though the German economy contracted. UK markets are down after Diageo reported a drop in sales.
Inflation number for Germany will be released at 8 am ET but the regional numbers show a slightly higher monthly reading.
US Equity Futures are higher this morning after a tough session yesterday. The S&P 500 is barely holding on to its 50-day moving average. Nvidia continues to trade lower in the pre-market. And all eyes will be on Microsoft earnings today after the close. AMD, Starbucks and Arista Networks report as well.
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