US earnings season: the worst quarter in a decade, with Chris Bailey

As the US Q2 earnings season is coming to an end, we are joined by Chris Bailey, the founder of Financial Orbit, to talk about the winners and losers. 

Bailey starts off with the technology sector, which experienced higher volatility after the earnings reports. He thinks the congressional committee meeting with Amazon, Apple, Facebook and Alphabet (Google) CEOs, which happened a day before the earnings, has given a greater upside reaction to the numbers. 

Talking about the banking sector, Bailey says that the 2008 crisis made banks quicker in applying significant provisions. In the energy sector, ’the sentiment could not get any worse’ with the big oil companies writing down asset values. Bailey also talks about the airlines and travel sectors, and whether there is a buying opportunity.

Any opinion, news, research, analysis, or other information does not constitute investment or trading advice.

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