Corporate Earnings Crunch: Coca-Cola, PayPal, Starbucks and Visa Report Q1 Results Today
Wall Street braces for impact as four consumer giants drop earnings bombshells before the bell. PayPal’s crypto ambitions face reality check—again.
Starbucks’ mobile pay dominance gets stress-tested against inflation-weary customers. Visa’s transaction volumes could signal whether the ’soft landing’ narrative holds water.
Bonus cynicism: Another quarter, another round of CEOs blaming ’macro headwinds’ for missing their own guidance.
Today’s Market Outlook: Major Earnings Reports to Watch: April 29 – May 3
The forex calendar is relatively light today, with attention turning to Spanish flash inflation data, US JOLTS job openings, and the CB Consumer Confidence.
Conference Board’s consumer confidence report. Expectations for US consumer confidence stand at 87.4, a noticeable decline from the prior reading of 92.9. While there are concerns about how rising tariffs might affect consumer prices, recent trends suggest limited impact so far, with deflationary pressures still outweighing inflation risks. Even if tariffs were to escalate, the probability of a sharp inflationary spike remains low compared to the sharp price increases observed in recent years.
In corporate news, major players such as Coca-Cola, Pfizer, PayPal, UPS, Visa, and Starbucks reported their first-quarter results, drawing significant market attention and contributing to the day’s choppy trading environment.
Last week, markets were chaotic, with gold soaring $500 in the final three days, the EUR/USD surging 5 cents, and stock markets opening down before turning upward. The moves were big, and the volatility was enormous, so we opened 40 trading signals in total, finishing the week with 25 winning signals and 15 losing ones.
Gold Hits Record Highs on Monday, But Volatility Returns
Gold had an exceptionally volatile week overall. After smashing through the $3,500 per ounce barrier to set a new all-time high, the precious metal faced a sharp $250 selloff. However, following dovish commentary from Federal Reserve Chair Jerome Powell and heightened geopolitical tensions, bullish momentum returned quickly, propelling gold back above $3,300. In a dramatic turnaround, gold ultimately surged to a fresh record high of $3,444 per ounce, marking an increase of over $500 in just two weeks. Yet renewed optimism in global trade relations triggered another pullback, briefly sending gold prices below $3,300 again before renewed buying lifted it by $100.
GBP/USD Surges to the Highest Level Since 2022
On the foreign exchange front, the GBP/USD pair captured market attention after climbing above the 1.34 level for the first time since late 2022. Although it ultimately fell back slightly, closing just under that threshold, the breakout remains significant. The crucial resistance to monitor remains at 1.3440, a level untouched since September of last year. Overall, the British pound outperformed not just the US dollar but also the euro and commodity-linked currencies such as the Canadian and Australian dollars, suggesting a strong close to April.
GBP/USD – Weekly Chart
Cryptocurrency Update
Bitcoin Rebounds Off the 500 Weekly SMA
In the cryptocurrency space, Bitcoin had a turbulent ride of its own. After briefly dipping below the $75,000 mark and touching its 50-week moving average, Bitcoin found renewed strength, fueled by a resurgence of pro-growth sentiment driven by former President Trump’s campaign rhetoric and a broader rally in tech stocks. The leading cryptocurrency soared above $93,000 and, after clearing its crucial 100-day simple moving average, is now consolidating just below $95,000.
BTC/USD – Weekly chart
XRP Climbs Above the 50 Daily SMA
Ripple (XRP) also showed resilience, bouncing off major support levels between $1.80 and $2.20, drawing in new buyers. It is now holding steady at $2.20 above its 50-day moving average, suggesting that further gains could be on the horizon if bullish sentiment across altcoins persists.
XRP/USD – Daily Chart
