{"id":636428,"date":"2024-07-31T00:00:00","date_gmt":"2024-07-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/31\/its-a-big-day-for-capital-markets-with-two-interest-rate-decisions-and-a-ton-of-earnings-reports-looming\/"},"modified":"2024-07-31T00:00:00","modified_gmt":"2024-07-31T00:00:00","slug":"its-a-big-day-for-capital-markets-with-two-interest-rate-decisions-and-a-ton-of-earnings-reports-looming","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/07\/31\/its-a-big-day-for-capital-markets-with-two-interest-rate-decisions-and-a-ton-of-earnings-reports-looming\/","title":{"rendered":"It\u2019s a big day for capital markets with two interest rate decisions and a ton of earnings reports looming"},"content":{"rendered":"

It\u2019s a big day for capital markets as investors await interest rate decisions<\/strong> from both the US Federal Reserve and the Bank of Japan. The expectation is that Japan could raise rates \u2014 and that the Fed will signal it will start cutting this fall, likely in September. The Bank of England will follow suit yesterday. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Also set to drive sentiment today: Earnings reports<\/strong> from HSBC, Arm Holdings, and Qualcomm, among others, as well as China\u2019s latest purchasing managers\u2019 index and a barrel of macro data from Hong Kong to Australia. <\/p>\n

What everyone wants to know: <\/strong>Will Meta\u2019s 2Q results today spook investors as much as Microsoft\u2019s did yesterday? The Redmond-headquartered company\u2019s disappointing Azure cloud sales spooked investors who had already given the thumbs-down to Tesla and Alphabet last week as skepticism builds about the commercial viability of AI. <\/p>\n

A sliver of light? <\/strong>Samsung (a net beneficiary of spending by companies and Big Tech on AI) reported a sharp rise in net profit<\/a> just before we hit \u201csend\u2019 on this morning\u2019s issue. The Korean giant said surging semiconductor sales drove its results for the quarter. <\/p>\n

And then\u2026 <\/strong>Apple and Amazon will announce their results tomorrow. <\/p>\n

MARKETS THIS MORNING- <\/p>\n

Asian markets mostly in the green this morning as investors wait macro data<\/strong> and an interest rate decision in Japan \u2014 and prepare for a long day of earnings as the clock marches on. Australia\u2019s ASX 200, Korea\u2019s Kospi and both the Hang Seng and the Shanghai Composite are in the green. Only the Nikkei is (ever so slightly) in the red as we prepare to hit \u201csend\u201d on this morning\u2019s issue. <\/p>\n

Both Wall Street and European equity futures were mixed in overnight trading<\/strong> as investors largely took a wait-and-see approach.<\/p>\n

<\/a><\/a> <\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong><\/p>\n<\/td>\n

\n

29,039<\/p>\n<\/td>\n

\n

+0.7% (YTD: +16.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD <\/strong>(<\/strong>CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 48.33<\/p>\n<\/td>\n

\n

Sell 48.47<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB)<\/strong><\/p>\n<\/td>\n

\n

Buy 48.34<\/p>\n<\/td>\n

\n

Sell 48.44<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,065<\/p>\n<\/td>\n

\n

-0.5% (YTD: +0.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9,396<\/p>\n<\/td>\n

\n

0.0% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

4,284<\/p>\n<\/td>\n

\n

-0.6% (YTD: +5.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5,436<\/p>\n<\/td>\n

\n

-0.5% (YTD: +14.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8,274<\/p>\n<\/td>\n

\n

-0.2% (YTD: +7.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

4,841<\/p>\n<\/td>\n

\n

+0.5% (YTD: +7.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 78.63<\/p>\n<\/td>\n

\n

-1.4%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex) <\/strong><\/p>\n<\/td>\n

\n

USD 2.12<\/p>\n<\/td>\n

\n

-0.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 2,455<\/p>\n<\/td>\n

\n

+0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 66,192<\/p>\n<\/td>\n

\n

-1.9% (YTD: +56.6%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose 0.7% at yesterday\u2019s close<\/strong> on turnover of EGP 4.7 bn (23.9% above the 90-day average). Local investors were net buyers. The index is up 16.7% YTD.<\/p>\n

In the green: <\/strong>Juhayna (+13.8%), ADIB (+4.4%), and Ezz Steel (+2.5%).<\/p>\n

In the red: <\/strong>Delta Sugar (3.3%), Alexandria Container and Cargo Handling (-0.9%), and Sidi Kerir (-0.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s a big day for capital markets as investors await interest rate decisions from both the US Federal Reserve and the Bank of Japan. The expectation is that Japan could raise rates \u2014 and that the Fed will signal it will start cutting this fall, likely in September. The Bank of England will follow suit […]<\/p>\n","protected":false},"author":1,"featured_media":636429,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[7094,8371,72,119,349,122],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-636428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-ai","tag-big-tech","tag-enterpriseam","tag-financial-markets","tag-interest-rates","tag-planet-finance","wpautop","entry"],"acf":{"mongo_id":"a3082be3-52cd-4ebb-96e5-043abeb73dcc","order":"12","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2589.jpg","photo_position":"above","homepage_title":"","full_issue_title":"It\u2019s a big day for capital markets with two interest rate decisions and a ton of earnings reports looming","related_issue":[636407],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2592bd79-f675-4727-979c-45380a3471a0.mp3"},"yoast_head":"\nIt\u2019s a big day for capital markets with two interest rate decisions and a ton of earnings reports looming - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/07\/31\/its-a-big-day-for-capital-markets-with-two-interest-rate-decisions-and-a-ton-of-earnings-reports-looming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It\u2019s a big day for capital markets with two interest rate decisions and a ton of earnings reports looming\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a big day for capital markets as investors await interest rate decisions from both the US Federal Reserve and the Bank of Japan. 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The expectation is that Japan could raise rates \u2014 and that the Fed will signal it will start cutting this fall, likely in September. 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Around a third of S&P 500 companies are sharing their earnings this week. Market watchers will be\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548078,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/25\/us-equities-are-continuing-to-rally-despite-a-poor-earnings-season\/","url_meta":{"origin":636428,"position":1},"title":"US equities are continuing to rally despite a poor earnings season","author":"enterpriseam admin","date":"25 July 2022","format":false,"excerpt":"US shares are rallying this month despite weak 2Q earnings reports and gloomy economic outlooks, the Wall Street Journal notes. The S&P 500 climbed nearly 5% so far in July, after falling 17.4% YTD in 2022. Notably, the S&P\u2019s performance comes after 26% of constituents have have reported earnings having\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548323,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/ems-trade-bonds-for-bank-loans-bp-uber-report-strong-2q-earnings-growth\/","url_meta":{"origin":636428,"position":2},"title":"EMs trade bonds for bank loans + BP, Uber report strong 2Q earnings growth","author":"enterpriseam admin","date":"3 August 2022","format":false,"excerpt":"Emerging markets are turning to syndicated loans after being effectively shut out of bond markets due to heightened commodity prices and rising borrowing costs, the Wall Street Journal reports. 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