Quarterly Outlook
Q3 Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
You can access both of our platforms from a single Saxo account.
Is Google the EU's ATM?
Michael O’Neill
FX Trader, Loonieviews.net
Summary: Google shares have shrugged off the latest EU fines while Wall Street struggles to turn positive on FOMC day,
The European Union is after Alphabet (GOOGL: Nasdaq) the parent company of Google, again. For the third time in as many years, the European Commission slapped Google with a hefty €1.49 fine. That brings the three-year total to €8.19, the equivalent of $9.30 billion at today’s exchange rate.
Today’s fine was for using its AdSense for Search app on its Android product to reduce competition. Bloomberg reports that 2017's €2.4 billion fine was for failing to give rival comparison shopping sites equal treatment. The EU didn’t like how Google responded to its 2017 order and slapped them with a whopping €4.3 penalty in 2018. The European Commission seems to believe that not only does” familiarity breed contempt", but so does success.
Google shareholders shrugged off today’s news. The company reported $30.738 billion in net income for 2018 and today’s fine is easily absorbed. The stock is up 0.70% in early trading.
Wall Street turned a positive open into a negative in the first forty-five minutes of trading although the dips are shallow. Shares in FedEx (FDX: NYSE) are being hammered, losing 5.5% in the first hour. Shareholders are venting their frustration after the company posted lower than expected earnings per share and revenue and slashed 2019 earnings forecast.
FX markets are doing the “FOMC shuffle,” a back-and forth-sideways dance with GBPUSD front and centre. UK Prime Minister Theresa May formally asked the European Union for a three-month extension to Article 50. Reuters reported the EU wants a shorter delay until May 23 or a longer delay to at least the end of the year. GBPUSD plunged on the story, sinking from 1.3225 at the New York open to 1.3142 before rebounding to 1.3180 as of 14:15 GMT.
Today’s fine was for using its AdSense for Search app on its Android product to reduce competition. Bloomberg reports that 2017's €2.4 billion fine was for failing to give rival comparison shopping sites equal treatment. The EU didn’t like how Google responded to its 2017 order and slapped them with a whopping €4.3 penalty in 2018. The European Commission seems to believe that not only does” familiarity breed contempt", but so does success.
Google shareholders shrugged off today’s news. The company reported $30.738 billion in net income for 2018 and today’s fine is easily absorbed. The stock is up 0.70% in early trading.
Wall Street turned a positive open into a negative in the first forty-five minutes of trading although the dips are shallow. Shares in FedEx (FDX: NYSE) are being hammered, losing 5.5% in the first hour. Shareholders are venting their frustration after the company posted lower than expected earnings per share and revenue and slashed 2019 earnings forecast.
FX markets are doing the “FOMC shuffle,” a back-and forth-sideways dance with GBPUSD front and centre. UK Prime Minister Theresa May formally asked the European Union for a three-month extension to Article 50. Reuters reported the EU wants a shorter delay until May 23 or a longer delay to at least the end of the year. GBPUSD plunged on the story, sinking from 1.3225 at the New York open to 1.3142 before rebounding to 1.3180 as of 14:15 GMT.
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Q3 Macro Outlook: Less chaos, and hopefully a bit more clarity
John J. Hardy
Global Head of Macro Strategy
After the chaos of Q2, the quarter ahead should get a bit more clarity on how Trump 2.0 is impacting... -
Quarterly Outlook
Upending the global order at blinding speed
John J. Hardy
Global Head of Macro Strategy
We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ... -
Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever
Jacob Falkencrone
Global Head of Investment Strategy
-
Quarterly Outlook
Commodity Outlook: Commodities rally despite global uncertainty
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy