The Week Ahead: 7-11 April
It feels a little futile to be writing a Week Ahead in these conditions. Financial results don’t matter much when the world has tipped over the brink and into an all out trade war and the biggest economies are now hurling tariffs at each other.
I am watching the slide in NVIDIA (NSQ:NVDA) (a stock which, up to December, contributed more than 12% of my portfolio) in horror. I’m glad my rule for rebalancing prompted a bit of top slicing. The shares are down 30% since the start of the year and they’re dragging the wider US market down with them.
Trump’s tariffs haven’t given any of us much of a breather in the wake of UK company earnings to take stock. The good news is that because we’re only just on the other side of reporting season, most numbers will be up to date, so investors can spend some time hunkering in and assessing the fundamental investment case of stocks in their portfolios. Remember, market mayhem is not the time for rash decision making. Try to hold your nerve and stick to your strategy.
Next week is quiet on the earnings front, but later in the week will see the first of the US banks announce their Q1 numbers. Blackrock, JP Morgan and Wells Fargo all announce their numbers before the market opens on Friday. The turmoil of this week won’t be reflected in the numbers (which will be for the period ending in March), but it will be interesting to assess any management comment on the situation that’s panning out in US equity markets.
In the UK, there is another big chunk of shares going ex-dividend on Thursday. Be aware of any sellers on the day adding more negativity to the news.
But the main strategy right now is keep your head, stick to your strategy and prepare for the opportunities - there should be plenty.
Economic Calendar
Monday 7th | ||
07:00 | UK | Halifax House Price Index |
10:00 | EU | Retail Sales |
Wednesday 9th | ||
19:00 | US | FOMC minutes |
Thursday 10th | ||
13:30 | US | Consumer Price Index |
13:30 | US | Initial Jobless Claims |
Friday 11th | ||
07:00 | UK | Manufacturing Production |
07:00 | UK | Industrial Production |
Companies Reporting
UK Trading Updates | UK Financial Results | International Financial Results | |
Monday 7 Apr | Applied Nutrition (APN) | ||
Tuesday 8 Apr | Dillistone Group (DSG) JTC (JTC) Staffline Group (STAF) | ||
Wednesday 9 Apr | JD Sports Fashion (JD.) | Audioboom Group (BOOM) Churchill China (CHH) Epwin Group (EPWN) Oxford Biomedica (OXB) Saga (SAGA) | Delta Airlines (DAL) |
Thursday 10 Apr | Brave Bison Group (BBSN) Hvivo (HVO) Inspecs Group (SPEC) Tesco (TSCO) | ||
Friday 11 Apr | Nanoco Group (NANO) | BlackRock (BLK) JPMorgan Chase (JPM) Wells Fargo (WFC) |
Disclaimer
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8 comments
Nicely put Graham.
I hold and continue to like Zotefoams (LON:ZTF). The shares have had an oversized battering given the recent proposal to invest in Vietnam. I thought that they were cheap at around 300p and now a whole lot cheaper, but the balance sheet is in decent shape and I am sure that they will be talking with Nike. One assumes that they will be put the Vietnam investment on ice until the fog created by the dry ice clears, as it will do in time.
I also continue to hold Polar Capital Holdings (LON:POLR) which is likely to be impacted, in the short term anyway. I expect the dividend to be held and wonder what Ben Rogoff is doing with the technology holdings?
Nicely put and it never hurts to remind people not to panic! personally I wish I’d liquidated my portfolio when the sugar of Omaha announced he’d pretty much done so and was sitting on 340 billion dollars. I’d have been looking at an additional potential 20% gains on all my chosen stocks right now. Then again with perfect hindsight we’re all super rich.
Likewise Group trading update Monday 7th April
Some what off topic, but is there anything that can be done about the following anomaly? I have raised it before through various sources but without any action or even a meaningful response. On the home page the values for the FTSE 100, FTSE All Share and S&P 500 are updated regularly throughout a trading day with, I believe, a 15 minute delay. However, the NASDAQ Composite index is only updated once after the US markets close and hence the Home Page always shows yesterday's closing price, not a current day value. This situation leads to highly inaccurate information such as yesterday: the NASDAQ Composite was down 6.0% but Stockopedia was happily saying all day that the NASDAQ was in positive territory.
I found that with the NYSE Composite on investing.com as well:
https://uk.investing.com/indic...
FWIW Property Franchise (LON:TPFG) report FY numbers on Tuesday 8/4.
I have referenced Bloomberg a few times today, I have spent most of the day listening to their radio programme and found it fascinating TBH. Any analysts that were questioned today about up coming results etc. all said that they thought any US company reporting in the near future would "withdraw forward guidance" !!
"It feels a little futile to be writing a Week Ahead in these conditions"
Agree - but chapeau and thanks for doing so anyway...