News By Tag
News By Location
Reliance Trading Co. Limited – FOMC, Apple Earnings and More
There are two key events that investors will be paying close attention to on Tuesday, the start of the Federal Open Market Committee's (FOMC) meeting and tech giant Apple's earnings report.
By: Reliance Trading Co. Limited
"Our U.S. economists believe the committee has clearly signaled its intent to cut by 25 bp and see little support for a 50 bp cut. Markets are currently discounting 65 bp of easing by the end of 2019 and an additional 35 bp of easing by year-end 2020," Reliance wrote in a note Friday to clients.
Meanwhile, iPhone maker Apple will take center stage after the market close when it reports fiscal third-quarter earnings. Slowing iPhone demand and weak sales in China have put pressure on the tech giant, as it tries to move away from dependence on hardware sales. Last quarter, iPhone sales fell 17% from the same period last year, and iPhone sales in China, a key market, fell 22% year over year.
Analysts polled by Bloomberg expect Apple to report earnings of $2.10 per share on $53.36 billion in revenue. IPhone sales are expected to fall 10%; however, sales in other segments such as iPad, Mac, Services and Wearables are expected to jump a combined 14.4%, according to data compiled by Bloomberg.
Other notable earnings reports scheduled for Tuesday include Altria, ConocoPhillips, D.R. Horton, Eli Lilly, Grubhub, Incyte, Mastercard, Merck, Pfizer, Procter & Gamble, Ralph Lauren, Under Armour before market open. Advanced Micro Devices, Amgen, Electronic Arts, Gilead, Mondelez will report after the market close.
Visit www.reliancetradingco.com or contact us at email@example.com for further details.
About Reliance Trading Co. Limited
Experienced, local and independent, Reliance Trading Co. Limited has a deep knowledge of markets and what causes change; we have local roots in Hong Kong but maintain a global reach and worldview; and we are a truly independent business which allows us to give you sound investment advice based on facts, not spin.
We started with one goal in mind: provide custom investment portfolios to fit your specific investment needs. Our client's love that we're able to tap into all of the same data, information and resources as larger investment houses, all the while offering a bespoke service to each and every client, as their situation requires.
Reliance Trading Co. Limited