News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Heads Up:🇧🇷 Inflation Rate YoY (APR) due at 12:00 GMT (15min) Expected: 6.76% Previous: 6.1% https://www.dailyfx.com/economic-calendar#2021-05-11
  • RT @KyleR_IG: https://t.co/dvJqnUZcsk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.02%, while traders in Wall Street are at opposite extremes with 74.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5Tt68HR25h
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-11
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmIoVZv https://t.co/dOChzDPvBW
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.26% Oil - US Crude: -0.88% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/FgSiJ4PcT3
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.31% 🇳🇿NZD: 0.27% 🇦🇺AUD: 0.24% 🇯🇵JPY: 0.05% 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qhfolQdLUG
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.43% US 500: -0.70% France 40: -1.89% FTSE 100: -2.07% Germany 30: -2.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/HjUzIke5gV
  • ZEW economic sentiment soars in May. #zew #euro #eurusd @DailyFX https://t.co/jEIeoeotgq
  • 💶 ZEW Economic Sentiment Index (MAY) Actual: 84 Previous: 66.3 https://www.dailyfx.com/economic-calendar#2021-05-11
Wal-Mart Earnings Shock Market, Bank Figures Offer Varied Results

Wal-Mart Earnings Shock Market, Bank Figures Offer Varied Results

Ryan Cox,

Talking Points:

  • Wal-Mart forecasted flat net sales growth for the current fiscal year, noted negative impact from exchange rate fluctuations
  • As analyst estimates for the financial sector has declined, Bank of America and Wells Fargo topped expectations
  • 3Q Revenue results from Bank of America and Wells Fargo posted mixed results during challenging capital market conditions

What kind of trading best suits you? Technical or Fundamental? Take our Trader Survey and find out.

Third quarter earnings season continues to forge highs and lows. Wal-Mart updated with a forecast for net sales growth through the current fiscal year to be flat and forecasted earnings for fiscal year 2017 to decrease 6 to 12 percent. A stronger-than-anticipated impact from unfavorable exchange rate fluctuations was highlighted as a particularly important factor in the downgrades. Wal-Mart’s shares traded 10 percent lower on the day following the somber guidance.

In addition to the exceptional volatility stirred by the Wal-Mart guidance, third quarter earnings updates from a number of important financial institutions shaped expectations for one of the economy’s more important sectors – and one of its most troubled over the past decade.

Bank of America posted a profit of $4.5 billion, or $0.37 per share, beating analyst estimates of $0.34 per share. Bank of America saw a substantial increase from a net loss of $232 million one year ago. The net loss in the third-quarter of 2014 was related to a settlement with the US government over mortgages, and as those legal costs have decreased it has helped to boost net income.

Wells Fargo & Co. posted a profit of $5.8 billion, or $1.05 per share, beating analyst estimates of $1.04 per share. The company’s net income was up 1 percent and earnings per share up 3 percent from the third-quarter of 2014.

As these financial firms posted better than expected earnings, analyst estimates for the financial sector have increasingly declined since the beginning of 2015. The lower general trajectory of earnings and guidance can be overshadowed as these companies seem to easily top estimates that are moving lower. A look at the top line numbers reported by these firms showed mixed results that have reflected challenges in the capital markets. Bank of America’s revenue decrease 2.4 percent while Wells Fargo revenue increased 3 percent relative to the third-quarter.

Financial equities have extended their gradual recovery from 2009’s post-crisis lows; yet through more recent challenging market conditions, the sector is has fallen 6.6 percent year-to-date. This performance lags behind the broader S&P 500.

Wal-Mart Earnings Shock Market, Bank Figures Offer Varied ResultsWal-Mart Earnings Shock Market, Bank Figures Offer Varied Results

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES