US equities lurch to session high ahead of Visa earnings | Forexlive
I suspect that before next Wednesday, there will be a period of angst about what the Fed will deliver but for now stocks have a green light on better tech earnings.
Today after the close is a big one with Visa and Intel. Tomorrow morning it’s American Express and Chevron. The credit card companies will certainly have some intel on the health of the consumer.
For now though, the technicals are improving with the market above the downtrend, the 200-day moving average , 4000 and the January highs.
I get the sense that the market is growing confident that inflation will return to at least 3%, if not lower.
In terms of what to watch for Visa, it’s beaten on EPS in 11 straight quarterly reports but trades at a rich multiple. I’m more interesting in commentary on the broader macro from the company, because who has better insight on that then Visa?