After spending a month trying to push past $300, on Monday, shares of the cloud software management giant Salesforce (NYSE: CRM) finally managed to achieve. The company will be in focus this week as it publishes its fourth-quarter results on Wednesday, February 28, after the markets close.
Lowering the price will decrease the production which will have impact not on the energy sector, but also several parts of sectors connected to oil. Lowers the production will lower the workforce needed in sectors what will raise the unemployment. Higher unemployment starts the cycle of the spiral which slows the economic growth on the end.
Global equity markets wrapped last week on a bullish note. At the same time, investors and market participants were cautious last week driven by hawkish comments from ECB and FED policymakers. As we enter the new trading week, the main attraction for this week is Thursday’s US PCE inflation data, which might offer some hints about the inflation trajectory in the US.
The Euro continues the upward traction against the US dollar after spending a week battling major overhead resistance near 1.0820/30. EURUSD reached a fresh monthly high of 1.0885 in early European trade on Thursday supported by dollar weakness.
The new week has started fairly quietly in terms of price action because the US stock markets closed for George Washington's birthday. This week, investors should closely review the most recent meeting minutes from major central banks for clearer signals about the direction of interest rates in the near future. At the same time, the chipmaker Nvidia reports earnings this week, which will be closely watched by Wall Street traders and likely to cause big moves.