There was a lot of political hassle this week with the trade war lingering on, ambiguity about Brexit and arguments about the level of contributions to NATO.
However, markets were not impressed and most major stock markets were even slightly up this week; Chinese stocks rebounded from their yearly low of last week. Investors are eying the upcoming quarterly earnings season and are confident that continuing global economic growth has helped company revenues and profits.
The earnings season already started this week, with Pepsico reporting solid quarterly figures, driven by growth of its snack activities, Doritos and Lays. Also, US banks – such as JPMorgan and Bank of America - are traditionally early to report. Other US companies that will release their earnings next week, include Netflix, Blackrock, Johnson & Johnson and Microsoft. In Europe, ASML, SAP, ABB and Unilever are among the reporting companies.
Broadcom’s shares lost more than 15% on Thursday, after the semiconductor company announced its intentions to acquire CA Technologies, the network infrastructure software player formerly known as Computer Associates, for almost USD 20 billion.