Samsung Electronics to Report 18-Fold Profit Jump on Tuesday

Global markets remained calm on Monday, with no new wars or tariffs disturbing investor sentiment. Attention is now shifting to earnings season, led by Samsung Electronics, which is expected to report an 18-fold jump in profits on Tuesday.

According to LSEG SmartEstimate, Samsung is likely to post an operating profit of 86 trillion won ($56.35 billion) for the April-June quarter.

There has been no progress in U.S.-Iran peace talks, but the Strait of Hormuz remains partly open. UKMTO recorded 160 vessels, including 98 tankers, passing through last week.

OPEC+ agreed over the weekend to raise oil output by 188,000 barrels per day from August. This takes the total increase since April to nearly 800,000 bpd. Oil prices eased slightly after the news, with Brent trading near $72.50.

Asian markets slipped slightly, seen as profit-taking after strong gains this year — South Korea up 90%, Taiwan up 62%, and Japan up 37%.

On Wall Street, Delta Air Lines and PepsiCo will report earnings before major banks release results next week. Analysts expect overall earnings growth of 25%, driven mainly by chip and energy companies.

Treasury yields eased slightly as investors grew more confident the Federal Reserve will hold rates steady this month.

Minutes from the Fed's last meeting, due Wednesday, are expected to sound hawkish, as nine members had backed a rate hike this year. Markets currently see a 22% chance of a hold on July 29, and a 60% chance of a hike by September.

Fed officials Christopher Waller and John Williams are scheduled to speak this week, ahead of Fed Chair Kevin Warsh's testimony to Congress next week.

The ISM Services survey, also due Monday, is expected to show only a slight slowdown.

Other events to watch include speeches by ECB's Christine Lagarde, Isabel Schnabel, Philip Lane, and Riksbank's Anna Seim, along with EU retail sales data for May.

Source: [aol]