Morning Minutes

Investors Await Tuesday’s Tech Earnings




It’s a quiet start to the week for world markets and business news but it feels like the calm before the storm. US index futures plus major European indices including the Dax and FTSE are all pretty much flat this morning. Gold is up 0.2% but sitting just below $2,000/oz, while WTI Crude Oil is down 0.2% and Copper is steady.   

The heart of US earnings season begins tomorrow and runs for the rest of this week and two more. Coca-Cola ($0.68 vs street $0.64 beat expectations this morning. This rest of week features results from Big Tech, Big Pharma, Big Oil and a lot of other mega cap companies. Headliners include Microsoft, Alphabet, Visa and McDonalds on Tuesday; Boeing and Meta Platforms on Wednesday;, MasterCard, Merck, Intel and Caterpillar Thursday; and Exxon Mobil plus Chevron on Friday.

Canadian earnings season starts tonight with Canadian National reporting after the close. In addition to the railroads, this week in Canada is dominated by Energy and Materials companies. Headliners include: First Quantum and West Fraser on Tuesday; Canadian Pacific, Cenovus and Rogers on Wednesday; Agnico-Eagle on Thursday, and Imperial Oil on Friday.   

The economic calendar for the last week of April is headlined by US Q1 GDP on Thursday. Other notable reports include US durable goods orders on Wednesday and US Core PCE inflation plus Chicago PMI on Friday, along with a number of housing-related numbers.

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Colin Cieszynski, Chief Market Strategist

Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

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