Robust earnings defy fading Fed cut expectations. Amazon to report next! | MarketTalk: What’s up today? | Swissquote

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Tesla jumped 15% on Monday after Elon Musk’s surprise visit to China resulted in a partnership with Baidu’s maps and navigation features that cleared the way for Tesla’s full-self driving cars in China. The S&P500 advanced 0.32% while Nasdaq 100 gained 0.36% as the US 2-year yield remained a touch below the 5% level. The Federal Reserve (Fed) starts its two-day policy meeting today and deliver its latest policy verdict tomorrow. We are preparing to hear Jerome Powell ask for more patience and for more time to abate inflation.
Happily, the earnings season is going well. The latest stats suggest that over 80% of the S&P500 companies that have reported earnings so far beat expectations, and helped lifting expectations for Q1 and Q2 earnings across most S&P500 sectors. Amazon is due to report today.
In the FX, the USDJPY trades near 156 as traders remain in the dark regarding whether the officials intervened or not yesterday. The EURUSD tests 1.07 before EZ inflation & growth data.
Elsewhere, US crude fell below $83pb on hope of ceasefire in Gaza, and cocoa futures tanked 15% on higher margin calls and forced liquidations.
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