So looking at this day ahead in markets, I’ll be watching the reopening of Wall Street after a 3-day weekend, Germany trade data, Eurozone GDP as well as earnings from Slack and Lululemon.
I touched a bit on this yesterday but the US is coming back from Labour Day and the holiday came just a week after a big slump in stock markets. A big part of today will be the psychological reaction from American investors to the slump after having a long weekend to think it over - or have a barbeque - whatever the case may be.
On the datafront Germany’s trade surplus is expected to widen to 16 billion in June from 15.5 billion, though the pace of export growth is expected to slip slightly to 13.3% from 14.9%. The final release of Q2 Eurozone GDP is expected to remain unchanged at minus 12.1% quarter over quarter.
Slack is a COVID stock favourite and took a beating last week with other tech stocks and the stock is still down from its direct listing price last year. The earnings are expected to show a narrowing loss of 3c per share down from 14c prior on sales of 209 million dollars, up 44% from the same time last year.
Lululemon shares have fared well when contrasted to the rest of the retail sector, which is in the doghouse with stores only reopening now. The company is expected to earn 55c per share compared to 96c last year. There is maybe a chance of an upside surprise if athleisure got a boost from the work from home environment.
Right, thanks for tuning in, good luck trading today and make sure to subscribe to the MorningFlow newsletter to get these videos delivered to you every day.
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