The General situation on European stock markets

Ignoring another drop in oil prices, European markets started the week with strong note. Special attention was attracted to the quarterly reports the US tech giants most of which will publish data after closing of the trades. In the next few days will be published data on consumer sentiment and on crude oil inventories. These are the events that can have a significant impact on stock markets on Tuesday 28 April.


The first data on income will be presented to the Alphabet, the parent company Google (NASDAQ:GOOGL) and chip maker Advanced Micro Devices. Their reports are expected after the closing bell. Analysts predict that Google (NASDAQ:GOOG) earned of USD 10.73 per share in the last quarter, and the volume of its sales amounted to about 41 billion USD.


In late March, the Agency BMO Capital Markets increased its rating on the stock to the maximum level (“above market”) at the same time maintaining a price target of 1,400 USD. From Alphabet stock to expect good sales during the recovery of the markets, while e-trade will give a significant advantage, say analysts at BMO. At the same time, Advanced Micro Devices (NASDAQ:AMD) is expected to receive a profit of 18 cents a share on revenue of about 1.8 billion USD.


Today the market will get all the necessary information to assess the prospects for consumer demand in the near future. Research company the Conference Board will release data on consumer confidence at 10:00 a.m. Eastern time (14:00 GMT).


Many experts argue that the consumer confidence index for April will be reduced to 87.9, compared to an index of 120 in the previous month. Despite the fact that it will be a significant drop, consumer confidence will still be much above the historic minimum of 30 observed during the financial crisis of 2008-2009.


In addition, oil prices have been “red zone”, breaking by more than 20% due to concerns over the ability of storage to accommodate the volumes of oil delivered under the contract next month. Today, the American Petroleum Institute (API) reported their data on stocks of crude oil after the market closes. Last week, the API reported an increase in reserves of approximately 13.2 million barrels.Meanwhile, there were reports that the US is starting to buy oil in the strategic reserve.

28 April, 2020

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