Pre-Market Review
Global Stocks Slightly Up

Posted by James Hughes -
Scope Markets

Global stocks pushed higher on Tuesday in light of one of the most uncertain earning seasons on record after the Coronavirus pandemic upended the world’s economy.

Volumes are more than 30% below average in many Asian markets as traders braced for news from global heavyweights including JPMorgan and Wells Fargo. Stocks were higher in the majority of Asian markets, including South Korea and Japan. Futures for the US in Europe also pushed higher.

As earnings season kicks off this week, traders are looking for a sense of just how badly the Coronavirus outbreak will hit some of the major US and European companies. We are likely to see several dividends cancelled, earnings predictions missed, and forward guidance almost completely wiped out.

With the outbreak causing chaos around the world, investors seem to have been flying blind when it comes to global stocks.

Global stocks on the rise?

The stock market, including the Dow Jones and S&P 500 paint a slightly confusing picture as they tend to rally on the health aspect of the virus rather than the economic aspect at the moment. With that said we are seeing numbers in Europe start to fall as discussions get underway about ending lockdowns in the likes of Spain and Italy.

What we must be certain of is that once the health aspect of this virus has subsided, the economic impact will be just as aggressive, which could cause indices to drop. Earnings season will finally give us a chance to look at how the companies that make up these indices are faring. This week it will be US banks and financial firms which take centre stage led by JPMorgan, Citigroup, Bank of America, BlackRock, Goldman Sachs and Wells Fargo.

Tuesday will also see the release of earnings from airline Delta. Delta airlines is considered one of the more reliable airlines heading into this crisis, and today’s figures could give us an indication of how well placed there will be once the crisis finishes.

Oil markets are still languishing around the $22 per barrel level as we get your more confirmation that the historic oil output deal brokered last week is just not enough to save the oil price. There was also an offset as demand finally saw a drop, which further negated the measly output cut.

The Eurozone is also putting itself at risk with the rescue package possibly in danger. The Eurozone has failed to effectively fight off any of the major crisis that has affected it since its inception in 2000. The political infighting is leading to the question of the legitimacy of the single currency yet again as the virus outbreak threatens to hit European economies harder than any region.

Share this article:

Disclaimer: This material is a marketing communication and shall not in any case be construed as an investment advice, investment recommendation or presentation of an investment strategy. The marketing communication is prepared without taking into consideration the individual investors personal circumstances, investment experience or current financial situation. Any information contained therein in regardsto past performance or future forecasts does not constitute a reliable indicator of future performance, as circumstances may change over time. Scope Markets shall not accept any responsibility for any losses of investors due to the use and the content of the abovementioned information. Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors.

Payment Methods

Scope Markets
Scope Markets
Scope Markets
Scope Markets


Scope Markets
Scope Markets
Scope Markets
Scope Markets

Scope Markets offers institutional and retail trading services to businesses and traders worldwide. Our top management team has more than 20 years of experience in the industry, and we are proud of the solid partnerships we built over the years. Whether it's a business or individual, Scope Markets has a wide range of trading solutions that are compliant, flexible, cost-efficient, innovative, and place the client first.

Contact Us

Registered address:
6160, Park Avenue, Buttonwood Bay, Lower Flat Office Space Front, Belize City, Belize


+44 2030 516959

Risk Warning

Please note that forex trading and trading in other leveraged products involves a significant level of risk and is not suitable for all investors. Trading in financial instruments may result in losses as well as profits and your losses can be greater than your initial invested capital. Before undertaking any such transactions, you should ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure.

Legal Information

RS Global Ltd is authorized and regulated by the Financial Services Commission of Belize ("FSC") under the Securities Industry Act 2021 with registration number 000274/2.

Restricted Regions

Scope Markets does not offer its services to the residents of certain jurisdictions. Please read carefully our Restricted Countries document.

This website uses cookies to provide you with the very best experience and to know you better. By visiting our website with your browser set to allow cookies, you consent to our use of cookies as described in our Privacy Policy.

© Copyright 2022 Scope Markets. All Rights Reserved.