Market Overview

The following is a partial recap of the market analysis shared during today’s morning Discord call. Today, oil rose by 4.8% after a peace proposal was rejected over the weekend. The increase in oil price appears to have no effect on the U.S. market, as it’s currently driven by the semiconductors, but the impact is much more visible in the consumer market and other sectors. For now, all eyes are on Presidents Trump and Xi, and their meeting on Thursday, 14th May, where the conflict in the Middle East is likely to be a main topic.

Tencent (700)

Tencent has dropped by 1.4% since Friday’s close. But with the company’s earnings coming up on Wednesday, 13th May. We believe it’s worth keeping Tencent in your weekly watch list, as barring a significant underperformance on its earnings, the company is likely to bounce back up to the HK$500. range, which should have an appropriately sized impact on Naspers (NPN) and Prosus (PRX) stocks.

Earnings

Today’s noteworthy earnings are spread over a variety of sectors and fields. Listed below are a few, starting with the pre-market earnings.

Circle Internet Group (CRCL)

Circle is an American company that provides payment services. The company has its earnings scheduled for the pre-market today.

Barrick (B)

Barrick is an American mining company with earnings scheduled for today, pre-market. It’s on our watchlist, as it is one of the world’s largest Gold and Copper miners.

Constellation Energy (CEG)

Constellation is an American energy and natural gas company, with earnings scheduled for pre-market.

Hims & Hers (HIMS)

Hims & Hers Health is an American personal care and drug company, with earnings scheduled for today, after market.

MARA Holdings (MARA)

MARA Holdings, formerly known as Marathon, is an American company known for its Cryptocurrency mining. Its earnings are coming out after-hours today.

Start your trading journey with us today!

We’re posting on TradingView, we’re posting on our blog… but the real magic happens in our client community where you can get access to our ideas as they develop. So, open your account and join us and start taking advantage of South Africa’s Top Broker for both Active Traders and Traditional Investors. We have a Discord server, with a Daily Morning Call at 08:30 (Monday – Friday), where our Trading Strategist shares market updates and posts information with the Community. If you are not trading with us yet, what’s stopping you?

*Please note that these trade ideas form part of a larger weekly plan and the value of financial products can increase as well as decrease over time, depending on the value of the underlying securities and market conditions. The risk of loss arising from trading in Contracts for Difference can be substantial. You should carefully consider whether such investments are suitable for you in the light of your circumstances and financial resources.