The continuation of the equity rally now rests on further talks between the US and Iran, says Chris Beauchamp, Chief Market Analyst at online trading and investing platform IG.
Equity surge fades on lack of peace talk news
“Headlines can only drive a market so far. Having posted an eye-watering surge from the end of March, equity markets now need substantive progress in talks if the recovery is to make further progress. Without it, investors will soon start to fret about the impact on the global economy of the straits closure, though in fairness that is a problem that needs navigating sooner or later.”
Netflix holds firm ahead of earnings
“Earnings from the streaming giant will provide a welcome distraction from the Middle East, but all eyes are on whether it can continue to recoup the losses endured in the second half of last year. While consumer spending is under the spotlight thanks to rising inflation around the globe, it is not expected to weigh too heavily this time around. Instead Netflix needs to show it has the core business well in hand, now that the M&A distraction has been dispensed with.”
Source: https://www.fxstreet.com/news/rally-begins-to-lose-momentum-on-lack-of-news-202604161552