FXstreet

Walmart expects profits to take a hit as inflation weighs on consumer spending.

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Schlumberger’s stock (NYSE: SLB), which provides oil field services including drilling, completion, and production solutions to upstream oil & gas companies in the U.S. and abroad, is scheduled to report its fiscal second-quarter results on Friday, July 22. The weekly price was bounced from 30.65 bearish reversal level to above for the primary bullish trend to be resumed.

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Inflation is diminishing the value of the euro, yen and pound relative to the goods and services they can buy even faster than it ravages the greenback. The dollar index, which measures the U.S. currencies against those three rivals plus the Canadian dollar, Swedish krona and Swiss franc, has surged almost 20% over the last 14 months, notably reaching parity with the euro this month for the first time since 2002.

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On July 18, IBM was the latest big tech company to succumb to the value-destroying effects of a strong dollar: the daily and weekly price broke Ichimoku cloud to below for the primary bearish reversal.

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3M Company (NYSE: MMM) is scheduled to report its Q2 2022 results on Tuesday, July 26. We expect the company to post revenue and earnings above the street expectations.
The weekly price was bounced from 125 support level to above for the bear market rally to be continuing with 138 possible target to re-enter.

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