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July 22, 2023 | Tech Talk for Saturday July 22nd 2023

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line


Focus next week is on news released from the FOMC meeting on Wednesday. Consensus calls for at least another 0.25% increase in the Fed Fund Rate to 5.50%. Second quarter results released by S&P 500 companies were mixed at best last week. Better than consensus results were released by most U.S. money center banks, airline companies and UnitedHealth Group. They were offset by less than consensus forward guidance offered by Tesla, Netflix and American Express. Net result: Analyst  once again lowered consensus second quarter earnings estimates.

 

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July 22nd, 2023

Posted In: Tech Talk

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