Meta revenue declines⚠️ Stocks surge led by tech📈 Earnings: Apple & Amazon💻 Pharma and industrials💼 GDP & Jobless claims 📊 Oil🛢️

FlowBank's hand-curated fresh financial news [header_noDither] 28.07.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Facebook!] Meta, the owner of Facebook and Instagram reported its first-ever revenue decline and predicts a slight drop in revenue for the next quarter. The company warns its ad sales are impacted by softer e-commerce spending and businesses are cautious to spend on advertising amid the war in Ukraine. Meta stock slumped 4.6% in after-hours, after jumping 6.5% in the session ahead of the earnings report. [Start Trading](113/cXx8Z04/MWpvX4g5xlXW2X0PJq1gvY0nW7FnbcL4N12YVN3fD2Dr3q3n_V1-WJV7CgKy3W2592FM3QvMGvVQPS6m2_hRbSN6YRXKlPr5KGW7Dr5t02MvHt1W2slyRt4fFQQYW2grMmG2D3yMqW7xnn_c8cYt4wVgk4Mj60Pt8SN4QyYnC7SpMyVPnqHl22VZHwW54wg0M9dh3KKW7Pt1Tf7XzYvtW1CXGj29klZgzW5kr8ZK4x2bN2VkqcMK7h_xcfVgJ_Wx1TSk1nW3mV_jH2MK6W2Vg-d9542cV69W6jkh8l2kt8nyW6bNw_K4dKB5vW1bNYFc1QGMhmW7HvyWr6KPC6kW2fJZwC6YQ99TW5QLv-H62TRcMV-SPbB3GZKZPVm--7S1y6GQL3db11) Trader's Corner In focus • Apple and Amazon will be the last tech giants to report earnings. Investors are anticipating a deceleration and a surge in costs, but are less nervous following earnings reports of peers Alphabet and Microsoft. • US GDP and jobless claims will be key to watch for clues on the economic momentum. GDP is expected to have grown at +0.5% QoQ. • Oil is finding strong support at around USD95 pb after US oil inventories data showed a lower read than expected. Economic data • US GDP & jobless claims • German CPI Earnings • Apple, Amazon, Mastercard • Pfizer, Merck, Thermo Fisher • Intel, Comcast, Linde • Honeywell, American Tower • L'Oréal, Sanofi, Air Liquide • Petrobras, Total, Southern • Altria, Vale, Schneider Electric Crypto • Bitcoin rose over 10% to above USD23k, surpassing its technical resistance at ∼USD21.7k on Powell's comments triggering a risk-on rally. • Ethereum rocketed 16% higher, as it deployed its tenth 'Shadow Fork' in its buildup to the "Merge", scheduled for the 19th of September. [Table 28.07] [Start Trading](113/cXx8Z04/MWpvX4g5xlXW2X0PJq1gvY0nW7FnbcL4N12YVN3fD2Dr3q3n_V1-WJV7CgD-WW1TpXxT7S4v8TVG_tD41z9sDtW1n5NNJ6qzpJ_W5NMVvY7rFY8pVkZmZX2NFDK0N5tswWkgxfXMVzV_H63t1BS5W1MnKy56MSXFqW5SFg0F1gZhmnW3lR6wb2MxLCfN7YqR-4WNPr3W12zMjF8LmvK8W7pn0gr3wzd9QN8nHWMfkT3wvW32t-M-7NTZ-CW5SRspT4QnlmJVmmhpZ5GmYkmW7VJ9qM30p6tcW2PQTBV1dKW8TW3HYjH51ztBjKM7tFhrNf2H2W2sgwG01CTWdkW65mh6K1V0FBtW3n-n885sg3-8W6MzX136ZsyM6W4V80Zy45_lRy3lTc1) Market Recap Stocks rallied led by US tech giants after Alphabet (+7.6%) and Microsoft (+6.7%) earnings helped alleviate fears of a more significant slowdown. Fed Chair Powell's comments that the Fed may slow the pace of rate hikes also reassured markets, fuelling the Nasdaq rally (+4.3%). Oil gained after US oil inventories declined. US exports reached records and crude production hit the highest level since April 2020. Treasury yields and the dollar came down after Powell's comments. This morning, US futures are slightly lower ahead of a busy day with Apple and Amazon earnings, plus the US GDP and jobless claims data. 2-year Treasury yields are back at 3% and oil is up 1% at USD98 pb. Chart Of The Day The Swiss franc is on its way to a strong month after the dollar retreated slightly from its highs. We began highlighting the USDCHF two weeks ago when the pair was showing signs of reversal. Now that it has gained from 0.9850 to around 0.96, what could come next? The Swiss National Bank (SNB) could be looking to make up for lost time and it is reportedly considering a 50bp hike move in September. The next level in the cards could be ∼0.95 for the USDCHF pair. [USDCHF trade](113/cXx8Z04/MWpvX4g5xlXW2X0PJq1gvY0nW7FnbcL4N12YVN3fD2CS3q3npV1-WJV7CgSqHN7vtzZM8lsKBW2-XFG9793Qq-W8tD_dY3Nn5vLW2h9VXG1KcWZmW5-8GS22tkKHhW7TcYRq2G3HrxW8cV3Js4Yw7_NW7Zlz6Y2RB4j5W68TvfZ9gvghsW5SW6Tq7Xl47DW7NStw55ry8YgW4cL9wF7b0TldV-378j8GqCc7W1VbgTK35M7l9V3jf956VnQr1W9hyK-X7VVWcpW1jbbjG64Q-YjW87B_x85THCvBW7sSljX1CdycDW6sKppH4LBjrTW6LZNbF8S97dqW7Nw5_n7qVkxS31xn1) FlowBank Blog Meta: primed for a bounce? [Meta main](113/cXx8Z04/MWpvX4g5xlXW2X0PJq1gvY0nW7FnbcL4N12YVN3fD2Dr3q3n_V1-WJV7CgV62W8gKdN46H8RtjW5Glbdw5Bd3ZNW8Zjhsz9478QwW4TYJ614BskpsW3hrfnf8cdgHPN5rjdRtGcGjLW7JhtXL1psBjPW4c7GFY4Cg0_kW8NfqMD4MHzB2W1J4mcB2CJY6DW80Z7cB2Z885vW1W5cHt86SyTNN51XJW_f5GYdMkv1f63dfWcW2Wrxp43mzqN7W7RPQ3G7ZHfP1N57C0ftp4BvnW29n52w4gwlTvW6Zy1h18-GkVLW49TlXQ6Sf9t9VJ3Z8B7d2gtrW4djvZ68VGwZnW3PMpcW4nQ22tW4fN-Yj2--dLFW862f1l6ZSZvhW2qv1v339lj5W383H1) After shedding all its pandemic gains and more, expectations for META stock have been crushed. But after its steep fall, could it be primed for a bounce? 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