Several major investment banks have raised their price targets on US indices recently. So there’s some optimism among investors going into the second-half of September!
Let’s take a look at the week ahead with a focus on Apple’s big keynote conference, oil and corporate earnings
How will oil behave this week?
Last week, the price of oil fell by $1 after a sharp reduction in prices in Saudi Arabia, raising concerns about the level of demand. Not only that, but the Organisation of the Petroleum Exporting Countries and its allies (OPEC +) continue to increase production, despite weakening demand in the US and China.
This week could be crucial again for the price of oil. On Monday, September 13th, OPEC + will publish a new monthly report that could provide insights into the oil market for the rest of the year. Also, the International Energy Agency (IEA) in France will publish its own report on the oil market on Tuesday 14 September.
Finally, be aware that variations in oil prices can directly influence your portfolio. For example, watch stocks in US oil companies like Occidental Petroleum and Chevron. And keep your eye on European names like Shell, Vopak and TotalEnergies.
Earnings to watch
Three companies will report their earnings this week, so watch how their shares react in the BUX Zero app.
First up, US software giant Oracle. The company has a history of beating expectations so investors are watching this one closely. Earnings-per-share should come in around $1.31, an increase of 17.56% year-over-year. The full results will be revealed on Monday, September 13th.
Next, Chinese group Jinko Solar will publish its results on Wednesday, September 15th. The world’s biggest manufacturer of solar PV panels is expected to report solid profits. Global demand has returned after several quarters of disappointment. Jinko Solar stock has been rising for a month now, boosted by positive ratings from investment banks. Be careful though, this Chinese stock is considered more volatile than many other stocks.
Finally, on Friday, September 17th, we’ll get quarterly results for Progressive, a car insurance provider in the United States. The group’s shares have gained 5.9% in value over the last year, which is lower than the overall increase in the sector (approximately 29%).
For this quarter, analysts expect that profits won’t cover expenses. On the other hand, Progressive is known for the growth of its dividends! If you want to learn more about dividend payments and how they can be of interest to your investment strategy, read more in this article.
New Apple products coming?
Apple will host its keynote conference on Tuesday, September 14th. We’re expecting Apple to launch its next flagship device: the highly-anticipated iPhone 13.
This news is important if you’re interested in Apple stock, or if it’s already in your portfolio. Indeed, the stock price could fluctuate leading up to the event, and during the launch itself. Pay close attention to the news and rumours over the coming days.
Economic and results calendar
Monday – OPEC monthly report. Quarterly figures from Oracle.
Tuesday – Unemployment rate in the UK. Inflation rate (August) in Spain and the United States. France Oil Market Report (IEA). Apple‘s Keynote.
Wednesday – Inflation rate (August) in Britain, France, Italy and Canada. Trade balance in Belgium and Ireland. Industrial production in the eurozone. Unemployment rate in the Netherlands. Quarterly figures from Jinko Solar.
Thursday – Trade balance in Italy and in the eurozone. Unemployment rate in the United States.
Friday – Inflation rate (August) in the euro area. Quarterly figures from Progressive.
We’ll be back next week with another edition of the BUX Breakdown. In the meantime, have a great week on the markets.
The BUX Breakdown was written by Clémentine Pougnet.
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All views, opinions, and analyses in this article should not be read as personal investment advice and individual investors should make their own decisions or seek independent advice. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.