Gerald Fitzgerald’s Market Review April 23

LAST WEEK IN 30 SECONDS...

Markets ticked marginally higher last week as quarterly corporate earnings disclosures commenced and aided by a weakening Euro, global equities finished the week +0.74%. One of the stronger market movements over the week was seen in China, with the Shanghai composite up +2.58% as investors warmed to ongoing domestic stimulus measures to maintain economic growth within the economy.

Elsewhere, Eurozone government bond yields continue to trend sideways with the German 10 year bund down 0.03% for the week to finish at a yield of 0.02%.

THIS WEEK IN 30 SECONDS...

This week is dominated by corporate earnings results with over 4,500 company earnings disclosures due including Amazon and Facebook. The week will be watched closely for general trends not just accrued revenues and profitability disclosures but on the wider outlook for corporate growth and profitability going forward.
From an economic data perspective the week is particularly quiet with Japanese unemployment rates and industrial production figures, in addition to US consumer sentiment disclosures due out on Friday.

CRUDE OIL FIRING UPWARDS

Brent Crude oil is up over a third in 2019 and is currently trending at $74 a barrel. Despite US shale producers increasing their supply, embargoes on Iran’s global oil supply are beginning to bite. Coupled with the recent conflict in Libya this has resulted in global oil prices rising steadily.