Investors will closely watch results from SK Hynix, Visa, Coca-Cola, Boeing, UPS and Ford on Wednesday, with semiconductor demand, consumer spending, transportation trends and corporate profitability all in focus.
Markets Hold Steady as Oil Plunges on Middle East Peace Hopes
Markets largely ignored a more than $7 plunge in oil prices yesterday as hopes for easing Middle East tensions increased. U.S. stocks ended mostly lower, with semiconductor shares extending their decline. The Dow Jones Industrial Average and Russell 2000 posted solid gains, while the S&P 500 finished nearly unchanged. Technology-heavy indices closed lower.
The U.S. dollar ended mixed to mostly higher, shrugging off sharply lower crude prices and modest declines in Treasury yields. Typically, falling oil prices can pressure the dollar and push yields lower, but traders appear focused on this week’s Federal Reserve policy decision.
The oil selloff was partly driven by easing geopolitical tensions. The U.S. and Iran paused direct military strikes, while President Trump said talks with Iran are underway, raising hopes that the conflict could de-escalate further.
Earnings Calendar Highlight Wednesday
Wednesday’s earnings calendar brings a diverse group of companies into focus, but SK Hynix, Visa and Boeing could attract the most attention. SK Hynix offers a key read on the semiconductor and AI infrastructure cycle, while Visa provides insight into consumer spending. Boeing, meanwhile, remains a higher-risk earnings event as investors look for evidence that the company can improve production and return to sustainable profitability.
SK Hynix (SKHY) – Q2 2026 Earnings
- Announcement: TNS
- Expected EPS: $4.87
- Market Cap: $1.02 trillion
- SK Hynix will be one of the most closely watched companies on the calendar as investors assess the strength of the global memory-chip market.
- Strong demand from AI infrastructure and data centers could support earnings, but elevated semiconductor valuations and concerns over rising competition remain potential risks.
- Investors will likely focus on memory pricing, capital spending and guidance for the second half of 2026.
Visa (V) – Q3 2026 Earnings
- Announcement: AMC
- Expected EPS: $3.23
- Market Cap: $689.44 billion
- Visa’s results will provide insight into consumer spending and global payment volumes.
- Investors will watch transaction growth, cross-border payments and management’s outlook for consumer activity.
- Any signs of weakening spending could raise concerns about broader economic momentum.
Coca-Cola (KO) – Q2 2026 Earnings
- Announcement: BMO
- Expected EPS: $0.93
- Market Cap: $361.71 billion
- Coca-Cola will report amid continued scrutiny of consumer resilience and pricing pressures.
- Investors will focus on organic revenue growth, volume trends and the company’s ability to maintain margins.
- Higher costs and cautious consumer behavior could create headwinds if pricing increases begin to weigh on demand.
Boeing (BA) – Q2 2026 Earnings
- Announcement: BMO
- Expected EPS: -$0.31
- Market Cap: $166.73 billion
- Boeing remains under pressure as investors continue to monitor production, deliveries and cash flow.
- The expected loss highlights the company’s ongoing financial challenges.
- Any update on aircraft production targets and its recovery strategy could drive significant volatility in the stock.
UPS (UPS) – Q2 2026 Earnings
- Announcement: BMO
- Expected EPS: $1.66
- Market Cap: $96.01 billion
- UPS results will offer another indication of the health of global shipping and logistics demand.
- Investors will focus on package volumes, pricing, cost-cutting efforts and profit margins.
- Weak demand or cautious guidance could reinforce concerns about slowing economic activity.
Ford (F) – Q2 2026 Earnings
- Announcement: AMC
- Expected EPS: $0.35
- Market Cap: $58.5 billion
- Ford will be watched for updates on vehicle demand, pricing and profitability.
- Investors are likely to focus on electric-vehicle spending, traditional vehicle margins and the impact of rising competition.
- Guidance will be particularly important as the automotive industry faces pressure from pricing competition and changing consumer preferences.
Gold Returns to the $4,000 Level
Gold prices experienced a volatile trading week, ultimately finishing significantly lower after an initially strong rally lost momentum. The precious metal climbed above $4,300 early in the week but later reversed sharply, ending nearly $100 below its recent highs as investors reassessed the outlook for interest rates and global risk sentiment.
The decline was largely driven by a stronger U.S. dollar, rising Treasury yields, and reduced demand for defensive assets following positive geopolitical developments in the Middle East. Despite the weakness, gold remains above the critical $4,000 support zone, which continues to define the longer-term bullish trend but it is under attack.
MAs Keeping USD/JPY Supported
Foreign exchange markets saw sharp swings. Early in the week, U.S. yield differentials and Japanese capital outflows pushed the dollar above ¥150, but disappointing U.S. jobs data triggered profit-taking, causing the USD/JPY to slide by four yen from its peak. However, the new BOJ governor the JPY has weakened and USD/JPY soared to 154 and we decided to close our buy signal for more than 80 pips as the pair found support at the 20 daily SMA (gray) and has rebounded more than 200 pips off that MA but reversed after the 25 bps rate cut from the FED. The price approached $160 but reversed after the BOJ meeting and fell 8 cents but found support at $152 at the 100 daily SMA (red) and rebounded above 156 but have reversed down again this week after the Japanese elections.
USD/JPY – Daily Chart
Cryptocurrency Update
Bitcoin Tries to Resume Uptrend
Cryptocurrencies remained highly active over the summer. Bitcoin (BTC) climbed to fresh highs of $123,000 and $124,000 in July and August, supported by institutional inflows and technical strength. However, remarks from Treasury Secretary Scott Bessent ruling out U.S. increases to BTC reserves triggered a steep pullback, sending the coin down to $80K before finding support at the 100 weekly SMA (green). A rebound followed, sending BTC near $100 is the first major text for Bitcoin buyers. However BTC returned lower and fell below $80K, breaking below the but the 100 weekly SMA (green) but the decline stopped at the $60K support where the 200 weekly SMA (purple) stands and rebounded above $76K but returned below $70K again.
BTC/USD – Daily Chart
Ethereum Returns Toward $2,000
Ethereum (ETH) has been similarly strong, surging toward $4,800, its highest since 2021 and near its all-time peak of $4,860. Despite a dip last week, ETH found support at the 20-day SMA, with retail enthusiasm and renewed institutional participation driving fresh upside momentum. Last week we saw a dive below $2,000 but buyers returned and pushed the price above $2K again.
ETH/USD – Weekly Chart
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank’s local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
