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📢 Outlook for April 25, 2024

The negative market sentiment RiskOff has been in place for 15 days. Even the market’s attempts to break out of the first half of the week, when market reactions in the style of “goodnewsisbadnews” (US PMIs and other macro data) took care of the slight improvement, did not change anything. Further escalation in the Middle East and yesterday’s META results (and outlook) did not please and dragged the RiskOff convincingly.

The first big macro data of the week will come today at 2:30 PM CET (8:30 AM EST) when we receive preliminary US GDP – we are curious to see how the market, which is set up to reverse the perception of macro data, will read this data. Then after the US market closes, the Q1 MSFT and GOOG results will come out, which may have a bigger impact on the market than the GDP. What is certain is that the market will be very strict in its assessment, as we saw with the META results.

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