The spotlight next week will shift somewhat to the Federal Reserve’s second-quarter earnings season and monetary policy. Market watchers will be treated to results from several major names, including Dow 30 components Goldman Sachs (GS), UnitedHealth (UNH), Johnson & Johnson (JNJ) and American Express (AXP), along with streaming giant Netflix (NFLX).

The Fed will still attract some attention as investors will be eager to hear from a packed lineup of central bank speakers just before the policy meeting lockout period.

In terms of the economic calendar, after fifteen days of labor market and inflation indicators, activity data will gain momentum in the form of the latest retail sales and industrial production reports.

Earnings Highlight: Monday, July 15 – Goldman Sachs (GS) and BlackRock (Black). See the full earnings calendar.

Earnings Highlight: Tuesday, July 16 – UnitedHealth (UNH), Bank of America (BAC), Progressive (PGR), Morgan Stanley (IN), PNC Financial (PNC) and JB Hunt Transport (JBHT). See the full earnings calendar.

Earnings Highlight: Wednesday, July 17 – Johnson & Johnson (JNJ), US Bancorp (USB), Morgan Children (KMI), United Airlines (UAL) and Ally Financial (ALLY). See the full earnings calendar.

Earnings Highlight: Thursday, July 18 – Netflix (NFLX), Abbott Laboratories (ABT), Black stone (BX), Domino’s pizza (ZDP) and Taiwan Semiconductor Manufacturing (TSM). See the full earnings calendar.

Earnings Highlight: Friday, July 19 – American Express (AXP), Halliburton (THANKS) and Travelers (VRT (return to recoverable value)) See the full earnings calendar.

IPO Observation: Hospital and healthcare clinic operator Ardent Health Partners (TARDT), insurance service provider Twfg (TWFG) and the biotechnology company Lirum Therapeutics (LRTX) are expected to price their IPOs and begin trading next week. The analyst quiet period ends at Rectitude (RECT) to free up analysts to publish ratings.

Source

Police cars outside the residence of Thomas Matthew Crooks, the suspected shooter at a Trump rally on Saturday, investigate the area in Pennsylvania. Following the incident, one rally attendee was killed, two rally attendees are in critical condition and Donald Trump suffered a non-fatal gunshot wound. The shooter is dead after being shot dead by the United States Secret Service. (Photo by Kyle Mazza/Anadolu via Getty Images)

Investors will initially favor traditional safe-haven assets and may lean toward trades more closely tied to former President Donald Trump’s chances of winning the White House after he survived an assassination attempt, according to market watchers.

“There will undoubtedly be some protectionist or safe-haven flows into Asia early this morning,” said Nick Twidale, chief market analyst at ATFX Global Markets. “I suspect gold could test all-time highs, we’ll see the yen being bought and the dollar, and flows into Treasuries as well.”

Early market commentary suggested Trump’s shooting at a rally in Pennsylvania on Saturday could also prompt traders to increase his likelihood of success in the November election. His support for looser fiscal policy and higher tariffs is generally seen as likely to benefit the dollar and weaken Treasuries.

An indicator of market sentiment heading into the weekend: Bitcoin surged above $60,000, likely reflecting Trump’s pro-crypto stance.

Other assets positively linked to the so-called Trump trade include stocks of energy companies, private prisons, credit card companies and health insurers.

Traders will also be closely watching market measures of expected volatility on Monday, such as those in the tariff-sensitive Chinese yuan and Mexican peso, which have begun to price in the U.S. vote.

Trump said he was shot in the right ear after a shooting at his rally. His campaign said in a statement that he was “fine” after the incident, which prompted him to rush off the stage.

“Currencies will be the first major market on Monday in Asia to react to the weekend’s shots. There’s potential for extra volatility, and getting a clear reading could be especially difficult because liquidity will be hurt by Japan’s national holiday,” said Garfield Reynolds, Asia team leader for Bloomberg Markets Live.

Strategists had already expected a volatile run-up to the election, particularly as Democrats are still agonizing over President Joe Biden’s candidacy after his poor performance in last month’s debate raised questions about his age. Investors were also grappling with the possibility that the election could end in a drawn-out dispute or political violence.

But there is little precedent for events like those in Pennsylvania. When President Ronald Reagan was shot four decades ago, the stock market plunged before closing early. The next day, March 31, 1981, the S&P 500 rose more than 1% and benchmark 10-year Treasury yields fell 9 basis points to 13.13%, according to data compiled by Bloomberg.

Bond investors should pay particular attention as the attack is likely to boost Trump’s election chances and ultimately lead to concerns about the fiscal outlook, according to Marko Papic, chief strategist at California-based BCA Research Inc.

“The bond market must at some point become aware of President Trump’s greater chances of winning the White House than any of his rivals,” Papic wrote. “And I continue to believe that as his chances increase, so too must the likelihood of a bond market revolt.”

Kyle Rodda, senior financial markets analyst at Capital.com, said he was seeing client flows into Bitcoin and gold following the shooting.

“This news marks a turning point in American policy norms,” he said. “For markets, it means safe-haven trades, but more tilted toward non-traditional safe-havens.”

Source

Q1 2024 Results: Jio Financial Share Price will be in focus on Monday as the Reliance Group company has a fixed board meeting on July 15, 2024 to consider and approve the company’s unaudited standalone and consolidated financial results. Trust Group company informed about the Q1 2024 Results date on Wednesday last week via an exchange filing. According to stock market experts, Jio Financial Services Limited is poised to deliver impressive Q1 results for FY25 on solid operating income. They have forecast a healthy QoQ PAT for the company in Q1 FY25.

Jio Financial Services News

Speaking on the Jio Financial Services Q1 2024 results, Manish Chowdhury, Head of Research, StoxBox, said, “We believe Jio Financial Services is poised to deliver impressive results in Q1FY25 aided by its operating income, which is likely to show robust growth driven by strong investment income, which in turn should lead to healthy PAT growth on a sequential basis. Jio Financial Services continues to make strategic moves such as launching digital products and expanding its ecosystem, with a clear focus on future growth. The company has announced plans to introduce products for lending against stocks and mutual funds, leveraging Jio’s large user base, which could be a significant growth driver in the coming quarters.”

“Furthermore, with the NBFC receiving RBI approval to become a primary investment company, Jio Financial Services is well-positioned to unlock value from its investments. Overall, we expect the company to report robust numbers in the upcoming quarter,” the StoxBox expert added.

Jio Financial Stock Target Price

Speaking about the technical outlook of Jio Financial share price, Ganesh Dongre, Senior Manager, Technical Research at Anand Rathi, said, “Jio Financial Services share price is poised to make a fresh high at the ₹260 apiece level. If the stock breaks above this mark, the Reliance Group stock could make a fresh high by touching the ₹290-₹295 zone. Hence, those with Jio Finance stock in their portfolio are advised to stick to the script by keeping a stop loss at ₹205. If the stock breaks above ₹260 decisively, then one can upgrade the stop loss at ₹240 for the near-term target of ₹295.”

On the advice to new buyers regarding Jio Financial stock, Ganesh Dongre said, “New buyers are advised to wait for the breakout. Once the stock breaks above ₹260, one can buy this Reliance Group stock at the short term target of ₹295, keeping a stop loss of ₹240 apiece.”

Disclaimer: The views and recommendations made above are those of individual analysts or brokerage firms, and not of Mint. Investors are advised to consult with certified experts before making any investment decisions.

3.6 Crore Indians visited in a single day choosing us as India’s undisputed platform for General Election Results. Explore Latest Updates here!

Topics that may interest you

Source

Are you thinking about planning for retirement? One of the most effective retirement savings strategies is to pay yourself first.

This concept involves prioritizing your savings by automatically setting aside a portion of your income for retirement before covering other expenses or spending money on unnecessary things.

By saving and investing consistently over time, you can build a solid nest egg, harness the power of compound interest, and set yourself up for a very comfortable retirement.

What does it mean to “pay yourself first”?

The term is often used in the world of business and entrepreneurship. In an effort to constantly grow and expand, many small business owners reinvest every dollar they earn back into their business, often leaving their own savings dry.

However, this principle applies to both retiring employees and small business owners.

Last year, 49 percent of Canadians failed to save anything for retirement, according to a study recent research by the Health Ontario Pension Plan (HOOPP).

To be fair, the rising cost of rent, groceries and other living expenses has been disproportionate to the increase in income, leading six in ten Canadians to question their ability to keep up with the cost of living, Statistics Canada.

I would argue, however, that this makes it more important than ever to pay yourself first.

Automating your savings

One of the easiest ways to ensure that you always have something to contribute to your savings is to automate your savings. This ensures that no matter what happens, you’ll always be putting something toward your future — even if it’s just a small percentage of your weekly paycheck.

Most banks, savings accounts, and investment accounts have settings that allow you to set up recurring deposits on specific dates, so that funds are automatically withdrawn as soon as your paycheck arrives.

I like to think of automating savings as creating a habit with as little friction as possible. It’s a lot like going to the gym. If your gym is a block away, you’re much more likely to stick to a regular exercise routine than if it’s a 30-minute drive away. Likewise, if you have to manually calculate and transfer money every time you pay your bill, you’re much less likely to save than if it were automatic.

Combine strategies

The number one way to get ahead is to start early. The sooner you can take advantage of the effects of compound interest on your retirement savings, the more you will have saved by the time you retire.

Here are some other tips to help you maximize your retirement savings.

Maximize employer contributions

Many employers have retirement programs that offer to match a certain amount that each employee deposits into a Registered Retirement Savings Plan (RRSP). It’s usually a good idea to contribute enough to maximize your employer’s contribution, since it’s essentially free money.

Maximize tax-free accounts

Tax-Free Savings Accounts (TFSAs) are by far one of the best savings and investment vehicles available to Canadian residents. These accounts can be used to hold investments that earn compound interest or pay dividends over time.

The best part about using a TFSA for your retirement savings is that you are not required to pay any taxes on capital gains, interest or dividends on the money earned inside a TFSA.

You can combine the pay-yourself-first method with these strategies; for example, you could set up automatic payments into your employer’s RRSP or your TFSA.

Lower your lifestyle

If you find yourself just staying afloat and controlling expenses, with little money left over to save or invest, you are not paying yourself first, but rather paying for your lifestyle first.

For many, the simplest strategy to start paying yourself first and investing for retirement is to change your lifestyle.

I’m not saying you should adopt an entirely Spartan existence, devoid of creature comforts. However, some simple ways to reduce your cost of living while still maintaining a decent standard of living include:

• Trade in your car for something with a lower payment or use public transportation
• Downgrade your apartment or house or get a roommate to share living costs
• Preparing your lunch and dinner to save on eating out
• Adopt a more minimalist lifestyle and find lower-cost forms of entertainment
• Buy your clothes at discount retailers

I recommend keeping track of your spending so you can see the difference. Then, all you have to do is take the difference and commit to putting it into a retirement savings account or investment.

How much should you save?

The amount you need to maintain your quality of life in retirement depends on how you plan to retire.

Financial planners generally suggest that the cost of maintaining your current lifestyle will be around 60 to 70 percent of your cost of living.

Canada’s Retirement Hub offers a helpful tool calculator to help you calculate how much you should save based on your current income and retirement goals.

Continue reading to more money saving tips to help you better plan for your retirement.

Christopher Liew is a CFA Charterholder and former financial advisor. He writes personal finance tips for thousands of Canadian readers daily at Financial Project.

Do you have a question, tip, or story idea about personal finance? Send an email to dotcom@bellmedia.ca.

Source