Indian markets and investors will assess the impact of IBM’s 23% plunge after weaker-than-expected preliminary quarterly results, with IT stocks inclu…
1/6US Markets | The S&P 500 rose on Tuesday after June inflation data came in weaker than expected. The broad market index gained 0.4%, while the Nasdaq Composite advanced 0.8%. The Dow Jones Industrial Average added 107 points, or 0.2%, supported by Goldman Sachs, which surged 8% after the bank reported better-than-expected earnings.
2/6IBM Stock Reaction | International Business Machines shares slipped 23% on Tuesday after the company provided preliminary second-quarter results that are below Wall Street’s expectations. International Business Machines said that it anticipates a quarterly adjusted profit of $2.93 per share on revenue of $17.2 billion. That’s below the $3.01 per share on revenue of $17.86 billion that analysts polled by FactSet predict.
3/6US inflation | US inflation cooled last month as the cost of gas, clothes, and used cars fell, providing some relief to consumers, while underlying price pressures also cooled more than expected. Prices dropped 0.4% from May to June, the largest monthly drop in four years, the Labour Department said Tuesday. On a yearly basis, inflation declined to 3.5%, down from a year-over-year gain of 4.2% in May and lower than many economists expected.
4/6First Quarter Results | Companies scheduled to announce their Q1 FY27 results on July 15 include Tech Mahindra, Wipro, HDFC Asset Management Company Limited, ICICI Prudential Life Insurance Company Limited, Angel One Limited, and Jana Small Finance Bank Limited.
5/6US Producer Price Index data | The United States will release its Producer Price Index (PPI) data for June at 6:00 PM IST. The PPI, which tracks changes in prices received by domestic producers, will be closely watched after the index for May rose 1.1% month-on-month, while final demand prices increased 6.5% year-on-year.
6/6Global corporate earnings | Major international corporate earnings are scheduled for release tomorrow, with ASML Holding set to announce results in Europe. In the United States, investors will track quarterly updates from companies including Johnson & Johnson, Morgan Stanley, BlackRock, and United Airlines.
