Can Walmart continue its 21% surge higher? May 19, 2021 11:30
Shares in Walmart surged higher yesterday after the world’s biggest retailer reported first-quarter earnings that beat Wall Street estimates.
The company posted earnings per share of $1.69 against an expected $1.21.
Investors liked the news, as well as the guidance from management that they had strong e-commerce growth and have raised their outlook for the rest of the year.
Source: Admirals MetaTrader 5, #WMT, Monthly - Data range: from Feb 1, 2013, to May 18, 2021, performed on May 18, 2021, at 8:30 pm GMT. Please note: Past performance is not a reliable indicator of future results.
The monthly chart of Walmart’s share price above shows a recent bounce from technical support at the 20-period (blue) exponential moving average.
Weekly Market Outlook: FOMC and European PMIs in focus May 17, 2021 11:00
Wednesday’s FOMC meeting minutes release takes centre stage this week after last week’s surge higher in the US inflation figures. More and more investors are leaning towards the Fed having to increase interest rates sooner rather than later but the central bank has so far stood firm.
While the US dollar is likely to be in focus this week, traders will also be digesting the Australian employment report and European PMI figures from Germany and France. The euro has had good volatility over the past few weeks but is still directionless in the long term.
Discover the most important technical analysis levels to watch in WTI oil for the week ahead, including whether oil prices will break resistance levels
Weekly Market Outlook: US data and earnings in focus May 10, 2021 12:00
All eyes will be firmly fixed on US economic data and the US dollar this week after a huge miss in last week’s employment figures. Economists and analysts forecasted more than 990,000 jobs would be added to the economy but figures came in at just 266,000 jobs.
The US dollar sank on the news, making this week’s data important for the long-term trend of the greenback. This includes Wednesday’s Consumer Price Inflation (CPI) report and Friday’s Retail Sales number.
Corporate earnings are also in focus with a variety of companies reporting, including Cisco Systems, ABN Amro, Walt Disney and others.
Will Copper’s 135% rally break the all-time high? May 07, 2021 13:30
The price of copper has been a monster rally since the lows of the pandemic in 2020. Only a year later and the metal dubbed ‘the new oil’ is up by more than 135% and threatening to break to a new all-time high.
The demand for the metal has caused investment banks such as the Bank of America to state that the world is running out of copper due to supply deficits. They highlight that inventories are now at levels seen 15 years ago which can only cover three weeks of demand.
As the global economy starts to reopen, a huge surge in demand for copper is expected, potentially driving prices up even further.