The world's financial market

Foreign Exchange Trading, also known as Forex, is the world's financial market. Within Forex, currencies are purchased and sold on a regular basis, generally for the purpose of carrying out international transactions.
A perfect example of international transactions with Forex, would be an instance of Canada purchasing items from the United States. Canada would have to purchase USD (United States Dollars) to complete the transactions. They would therefore, essentially buy USD using their own currency called CAD (Canadian Dollar).
Of course, Forex is operating in the same way as the stock market, only brokers can trade on the market. Typically, in each country there is a large bank, these banks are generally known as Forex brokers. Therefore, if you are interested in Forex trading, you will need to choose a broker to handle the transactions for you.
When choosing a broker, you need to determine which brokers are dealing with the Forex trading market. You should also consider the goals you have within the market. For example, in some instances it may be suitable to use a local banker for the transactions.

However, if you are interested in the market, on a more serious level such as converting global Forex receipts, intentions of profiting from the market, or hedging the risks, you may want to consider opting for a specialized Forex broker.
When choosing a broker, you should also consider the commissions they earn. You should also base your decision on the amount of time it takes the broker to complete your transactions. You should also ensure that the chosen broker has a host of financial tools at their disposal for use in Forex trading. Some examples of such tools include instruments for Forex currency options, futures, and forward contracts.
When it comes to tools and your Forex broker, you will want to ensure that the broker has the extensive knowledge on how to use these tools. For example, with it comes to forward contracts, this is typically offered only through banking institutions.

Your broker should also understand when they should implement these tools. As in the forward contracts, they should know that forward Forex trading should only be implemented when the date of the transaction and the specific number of transactions should be implemented.
Overall, it is important to deal only with a Forex broker that has the experience, knowledge, and expertise that is required when dealing with Forex trading. When entering into the world of Forex trading, you should also have the knowledge needed, you do not want to rely on the hopes that your broker can offer you the advice needed on all transactions.
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Choice of a forex broker

The Forex market has been considered as the biggest financial market in the world. For many years, it has been only the big corporations and skillful professionals who were very much involved in the market. Nowadays, there are a lot of people who are engaged with this profitable yet risky to the unlearned worldwide business.However, for those who are beginners, which include the individual and minor traders, consider this kind of market as something new to them. Sometimes, they are so doubtful whether to invest or not. They have inadequate or the least knowledge about the process of operations and possibilities to expand in the future. This lack of knowledge can lead to financial loss.In view of this, the traders must be educated first regarding the trading system and how it operates or utilizes professional help of a knowledgeable forex broker. Do you have a clear idea about these brokers? In the strict sense, brokers are individuals or companies that will be hired to buy and sell orders according to the decisions of the investor. In order to make money, brokers will ask for a fee or commission for services rendered. It is necessary for the forex brokers to be connected to the big financial institution like for example the bank, so as to get funding for the margin trading.As a starting point in forex trading, you need to open an account with a forex broker. The forex broker will be used by forex traders in taking care of their business dealings. The forex broker will act as a consultant who guides you regarding forex market. You will be allowed by the forex broker to work for one day with major currencies namely, EUR, JPY,GBP, CHF etc. against the USD immediately, that is in accordance to the current price in the market for forex international exchange. Your abilities together with your suitable decision will be vital for the level of profits.Moreover, the forex broker will give you technical analysis and even provide tips on how to make a research in achieving their success traders of forex. Sometimes, forex broker will offer suggestions regarding what moves are you going to make about forex trading.Maybe the function of a forex broker is practically unnecessary, due to the development of technology and increased awareness, but we can not entirely disregard his role. The introduction of a new model has affected even the financial markets. But later on many banks and brokerages had expanded their services by wrapping up their online trading systems for retail market. Hence, more traders use their computers to have an access even currency market which are out-of-reach. The forex broker now will be needed in this area of forex marketIn choosing a forex broker, you need to be wise about it. Of course, it is expected that there will be a lot of brokers who will offer their services online. Before making a decision of choosing a forex broker, do not forget to make some research. The amount of time spent somehow made us to know more about the available services and the fees from different forex brokers.There are several things to consider before you open an account to a forex broker. First, the forex broker must a license holder and registered as a Futures Commission Merchant (FCM) together with the Commodity Futures Trading Commission (CFTC) so as to avoid deception and trade practices which are offensive. Second, you should know the fees concerned. Is the spread fixed or variable about the kind of account? Third, the speed of execution. Fourth, the platform of trading. Fifth, the forex broker should give 24-hour support. Sixth, it must have solid financial backing. Seventh, always get a demo account.
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Today most traders resembling to trade a Forex trading machine

Forex trading has a big appeal among the people due to the possibility of creating instant wealth. If forex trading is equipped with a good strategy, preferably a unique one will be of great help in achieving success. Forex trading strategies reduce the risk irrespective of the person’s participation in position trading, or day trading, or swing trading provided they are disciplined enough to stick to the strategy adopted. The best forex trading strategies are adopted by forex traders who are blessed with keen market sense and also who are able to privy to get inside information. On the basis of that information they develop forex investment strategies. The forex trading strategies which are devised after observing the market for quite sometime gain profits by rising above the odds. The forex traders who are best in their profession do not enter a trade without devising an exit strategy. They are the people who know very well when to minimize their losses and when to maximize their profits. They are very disciplined in doing both. Leverage strategy: Forex trading strategies help achieve success in forex trading or online currency trading. Forex trading differs from trading stocks and the use of forex trading strategies help the person to gain more profits in a very short period. There are many forex trading strategies adopted by the investors, the most useful among these strategies is called as the leverage. This forex trading strategy allows the online traders to get more funds than the deposited amount; by adopting this strategy the benefits are maximized. This strategy helps in utilizing the amount deposited in the account even up to 100 times against any forex trading by backing high yield transactions very easily and better results are got. This leverage forex trading strategy is used by the traders on a regular basis to take advantage of fluctuations happening in the forex market in short term. Stop loss order strategy: Stop loss order forex trading strategy is also used commonly among forex traders. This strategy protects the investors and creates a situation called the predetermined point, not allowing the investor to trade when it is reached. This forex trading strategy minimizes the losses. Sometimes this strategy might backfire and make the investor to run the risk of stopping their trading leading to a higher loss, hence it is up to the trader to use or not to use this forex trading strategy.Automatic entry order strategy: An automatic entry order forex trading strategy is also one of the widely used strategies. This strategy allows the investors to participate in the trading activity when the price is suitable for them. Here the price is already determined and when the situation is reached the investor enters into the forex trading automatically.Apart from the above strategies, there are certain basic rules to be followed as strategies to gain profits in forex trading:The amount exposed in the foreign currency trading should always be kept in track to ensure to be within the accepted levels. While trading, the trader should not be very greedy or breach when keeping the returns in mind which is expected out of the transactions. The main objective should be kept in mind; it might be either capital appreciation or constant returns or high profits. Keeping track of ones own experience will reward at a later stage. Investment should be within the affordability to lose. Also relying on expert’s opinions, history prices, and analytical statements may be effective some time rather than going by their own instincts.
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Euro Traders will Turn to Financial Troubles with the Bull Spell Broken

- The German economy expands at its fastest pace on record in the second quarter
- Spain’s Prime Minister hints at relaxing austerity, Slovakia breaks the unity in stabilizing the region
- EURUSD posts a remarkable reversal; but is this correction destined to develop into a trend?
With the US dollar advancing for five consecutive days, the euro would naturally tumble for five consecutive sessions. For EURUSD, this decline was the worst performance the market has seen since mid-May. As the most liquid pair in the currency market, this benchmark is also a bellwether for the rest of the euro crosses. This is an unfortunate connection for the shared currency; because the substantial move of the past week has speculative and technical connotations as a long-overdue correction after a persistent and slow two-month advance. However, the sharp reversal has its fundamental bearings as well; and this underlying sway over investor positioning is what will truly define the euro’s progress going forward.
For the euro, there are two primary fundamental concerns going forward: whether the economy will expand faster than its peers (and fast enough to forgo additional fiscal troubles) and the threat of another financial crisis. As for speculation surrounding interest rate potential, the ECB has more or less written off any possibility of a hike for the foreseeable future; so don’t expect the Euro Zone CPI numbers to do much for price action. Between the two dominant themes, financial uncertain holds the greatest potential for the future. Officials didn’t fix their problems after Greece raced towards default and the market closed to sovereign bond auctions in the region. They merely offered a temporary patch that was whole-heartedly dependent on investor optimism. It is this precarious position that is exposed through developments that show a lack of progress with curbing deficits and surviving austerity. Of great concern last week (but generating only minimal attention) was the hint made by Spanish Prime Minister Zapatero that he may ease austerity efforts to support growth and Slovakia’s vote not to send bailout funds to Greece. There was already considerable doubt that the region could balance fiscal responsibility with reasonable growth before. Should unity break down in the effort to restore confidence in the entire European economic and monetary union, the currency will surely suffer.
With risk in mind, we cannot predict what will catalyze fear or confidence as there are few scheduled indicators that have this level of influence and no specific meetings to set rest our expectations upon. That being said, it will be important to keep a constant vigilance on underlying risk appetite trends market wide. Should the need to unwind risky positions wash over the markets once again, the euro will very likely be at the top of the list due to its fundamental troubles. A more specific concern to keep track of is the European governments’ ability to access the debt market. Spain, Ireland, Portugal and Hungary will all attempt to raise funds next week. Consistently high yields and low demand will eventually capsize confidence.
Looking at the economic docket, there is little reason to believe that we will see even a short-term trend develop from any of the scheduled listings. However, the ZEW sentiment surveys for Germany and the Eurozone should be noted. As a confidence reading for investors, this data will be important for gauging the market for sovereign and regional bank bond auctions before they actually take place
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AUD/USD Outlook – August 23-27

The upcoming week consists of three market moving events in Australia, as well as political echoes after the elections ended in a hung parliament. Here’s an outlook for these events and an updated technical analysis for AUD/USD.

AUD/USD chart with support and resistance lines marked.

The meeting minutes and RBA governor Glenn Stevens in particular, hinted that there’s still lots of time for more rate hikes. This, together with the echoes from Ben Bernanke’s statement, hurt the Aussie. Now, the elections and other events will rock the currency. Let’s start:
  1. Construction Work Done: Published on Wednesday at 1:30 GMT. This housing sector indicator has been doing better than other ones, rising, posting neat growth rates. After the last quarter saw a weaker than expected growth rate of 1.9%, there’s hope for a better growth rate this time – 3.1%.
  2. CB Leading Index: Published on Thursday at 1:00 GMT. The Conference Board builds this indicator from 7 economic indicators . Most of these indicators have already been released, yet the publication still moves the currency. Three months of rises in this index will probably be followed by a fourth one, at a rate of about 0.3%.
  3. Private Capital Expenditure: Published on Thursday at 1:30 GMT. This quarterly indicator always rocks the Aussie, as it’s a good gauge for the whole economy. After a superb Q4, expenditure dropped in Q1 by 0.2%, disappointing the Aussie. A recovery is expected this time, with a 2.4% rise
AUD/USD Technical Analysis

The Aussie started the week with a ounce off the 0.8870 level mentioned in last week’s outlook. It later struggled with the 0.90 line, managed to cross it, but couldn’t breach the 0.9080 line. The fall was strong and almost ended in losing 0.8870, but the pair finally closed at 0.8938.
AUD/USD now ranges between 0.8870, which served as a clear line in both directions, and the round number of 0.90, which provides minor resistance.
Above, 0.9080 proved itself once more in the past week, and is now a major line of resistance. Higher, 0.9135 supported the pair when it was trading higher, and recently worked as resistance.
Above, 0.9220 capped the Australian dollar at the beginning of the month and also supported it in April – it’s a strong resistance line. The veteran 0.9327 line is still far in the distance.
Looking down below 0.8870, the next line of support is at 0.8710, which was a swing low in May and also provided support later on. It’s followed by 0.8567, which worked as support in May and as a resistance line back in 2009.
Even lower, 0.8316 was a double bottom in July, and provides major resistance. Lower, the year-to-date low of 0.8066 is the ultimate support line.
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Pound Falls to New Lows as BoE Expects Recession

The Great Britain pound fell to its
one-month low against the USD and to the 3-month low against the yen, following the comments of the country’s monetary officials and the global bearish trend for the riskier assets.
According to the interview given to The Times by Martin Weale (a member of the Monetary Policy Committee of the Bank of England), the risk of the continuation of the recession is quite strong and there are chances that the 4-quarter growth value may turn out negative in the UK. Today’s figures from the macroeconomic reports from over the world also indicate a slowdown in the recovery.
The analysts believe that the risk-aversion was already high enough for the pound to suffer a major drawdown, while the dovish commentaries by the Bank’s officials are just pulling it even farther down. The speculators will now have an additional stimulus to bet on a further depreciation of the sterling. Meanwhile, the stock market participants retreat from equities to the appreciating bonds.
GBP/USD fell from 1.5501 to 1.5472 as of 16:05 GMT today after hitting as low as 1.5372 earlier. GBP/JPY went down from 131.93 to 130.31, touching 128.79 during early trading session — the lowest level for the currency pair since May 25. EUR/GBP increased from 0.8159 to 0.8193.
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Swiss Franc are Heading to Parity with Dollar on Swiss GDP

The Swiss franc is heading to the parity with the US dollar as the pace of Switzerland’s economic growth was faster than the economists estimated. The currency also gained against the euro.
The Swiss gross domestic product grew by 0.9 percent in the second quarter of this year, following the 1.0 percent advance in the previous quarter. The median estimate was the 0.8 percent growth. Now, as the threat of the deflation considered being gone and the Swiss National Bank is unlikely to intervene, the talks emerge about the possible franc’s parity with the dollar.
USD/CHF dropped from 1.0156 to 1.0115 today as of 11:26 GMT. EUR/CHF declined from 1.3008 to 1.2980.
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NFP Shows Solid Private Job Growth, Yen Tumbles, Commodity Currencies Soar

The Japanese yen is sharply lower in early US session after release of better than expected non-farm payroll report from US. Commodity currencies also soar broadly on risk appetite. European majors are relatively steady and Swiss Franc is indeed dropping sharply following yen. The headline non-farm payroll number showed -54k contraction only comparing to expectation of -105k. Prior month's number was also revised up to -54k. More importantly, private sector job market showed 67k expansion versus expectation of around 40k while prior month's data was also revised up to an impressive 107k. Unemployment rate climbed from 9.5% to 9.6% as expected and is ignored by the markets. Markets will now face another test of ISM services later in US morning.
Release earlier today, UK PMI services dropped more than expected to 51.3 in August and sent sterling lower against Euro. Eurozone services PMI was revised mildly up to 55.9 in AUgust. retail sales grew 0.1% mom , 1.1% yoy in July. Swiss CPI was flat mom, rose 0.3% yoy in August.
CAD/JPY follows risk appetite in US session and jumps sharply. Consolidation above 78.52 is still in progress and more upside should be seen to 82 and above. But after all, we'd still expect upside to be limited by 83.48 resistance and bring resumption of the whole fall from 94.46.
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Euro Falls Heavily

U.S. Dollar Trading (USD) mild risk aversion and heavy EUR/USD selling helped the Dollar gain against most pairs. In US stocks, DJIA -107points closing at 10340, S&P -12 points closing at 1091 and NASDAQ -24 points closing at 2208. Looking ahead, July Consumer Credit is forecast to fall -3.8bn vs. -1.3bn previously.
The Euro (EUR) came under pressure for most of the day with the market focused on a WSJ article that questioned the European Banking Stress tests and also the German Banking Association reported that German Banks would need 100bnin more capital if new global banking rules get passed. EUR/USD traded with a low of 1.2675 and a high of 1.2821 before closing at 1.2690. Looking ahead, German Trade Balance forecast at 12.9bn vs. 12.3 bn.The Japanese Yen (JPY) USD/JPY slipped below Y84 on heavy crosses led by the EUR/JPY but the moves were not drastic and support was found at Y83.50. The BOJ held at 0.1% but given it was the second meeting in two weeks the market was not expecting fireworks. Overall the USDJPY traded with a low of 83.50 and a high of 84.28 before closing the day around 83.75 in the New York session. UPDATE July Machine Orders at 8.8%.
The Sterling (GBP) was weaker against the greenback but made good gains against the souring Euro. Cable Found support at 1.5300 and bounced in the US session. Overall the GBP/USD traded with a low of 1.5294 and a high of 1.5427 before closing the day at 1.5360 in the New York session. Looking ahead, July Industrial Output is forecast at 0.3% vs. -0.5% previously m/m.
The Australian Dollar (AUD) was pushed lower on neutral comments from the RBA after they held at 4.5% and news emerged that Labor would be forming a new government along with its proposed mining tax. Overall the AUD/USD traded with a low of 0.9090 and a high of 0.9181 before closing the US session at 0.9120.
Oil & Gold (XAU) gold surged in the US to test $1260 on global financial concerns.Overall trading with a low of USD$1244 and high of USD $1260 before ending the New York session at USD$1256 an ounce. Oil held up well in a risk averse environment. WTI Oil Closed -$0.30 at $73.80 a barrel.

Euro – 1.2685
Initial support at 1.2588 (Aug 24 low) followed by 1.2434 (61.8% retrace of 1.1877-1.3334). Initial resistance is now located at 1.2933 (Aug 12 low) followed by 1.3000 (Big figure Resistance)
Yen – 83.70
Initial support is located at 83.52 (Sept 7 low) followed by 81.85 (May 1995 low). Initial resistance is now at 85.23 (Sept 3 high) followed by 86.36 (Aug 13 high).
Pound – 1.5365
Initial support at 1.5125 (July 21 low) followed by 1.4906 (0.618 of 1.4231 - 1.5999). Initial resistance is now at 1.5492 (Sept 1 high) followed by 1.5713 (Aug 12 high).
Australian Dollar – 0.9115
Initial support at 0.9055 (Sept 2 low) followed by the 0.8771 (Aug 25 low). Initial resistance is now at 0.9222 (Aug 6 high) followed by 0.9389 (Apr 12 high).
Gold – 1256
Initial support at 1232 (Aug 31 low) followed by 1210 (Aug 24 low). Initial resistance is now at 1265 (June 21 high) followed by 1300 (round number).
Oil – 73.70
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Swiss Franc Touches Record High, Nears Parity

In the year-to-date, the Swiss Franc has risen 3% against the Dollar, 15% against the Euro, and more than 5% on a trade-weighted basis. It recently touched a record low against the Euro, and is closing in on parity with the USD. Since the beginning of the summer, the Franc has rallied by an unbelievable 15% against the Greenback. I don’t think I’m alone in scratching my head in bewilderment wondering, What could possibly be behind the Franc’s rise?

By this point, everyone is familiar with the safe-haven phenomenon. Basically, concerns of a double-dip recession have ignited a flare-up in risk aversion and spurred investors to shift capital into locales and investment vehicles that are perceived as less risky. Switzerland and by extension the Swiss Franc, have both benefited from this phenomenon: “Anxious investors searching for a haven from fears about the health of Europe’s banks, which knocked equities and sent peripheral eurozone government bond spreads higher, dumped the single currency. The Swiss franc benefited.” Enough said.
At the same time, the Dollar and Japanese Yen are also considered safe-haven currencies, and as you can see from the chart below, the three have hardly traded in lockstep. In other words, there must be something distinguishing the Franc. Economists point to a strong economy: “Gross domestic product rose 0.9 percent from the first quarter, when it increased 1 percent. ‘The underlying economics of Switzerland are very, very healthy. Concerns about deflation have subsided.’ ” The consensus is that the Swiss economy will expand by close to 2% on the year. However, this is hardly impressive, especially compared to other industrialized countries. In addition, Swiss interest rates remain low, which means the opportunity cost of holding the Franc is high. There must be something else going on.

In fact, it looks like the Swiss Franc’s rise is kind of self-fulfilling. For most of 2009, the Swiss National Bank (SNB) spent nearly $200 Billion to artificially hold down the value of the Franc. During this period, the Franc remained stable against the Euro and depreciated against the Dollar and Yen. Having finally broken through the “line in the sand” of €1.50, however, the Franc is now appreciating rapidly. Why? Because the SNB no longer has any credibility. It lost $15 Billion (due to the Euro depreciation) trying to defend the Franc, and in hindsight, the mission was a complete waste of time. As a result, a fresh round of intervention is out of the question. The currency markets have also dismissed the possibility of new intervention, and it seems they are punishing the SNB (via the Franc) for even trying.
According to analysts, the markets have also come to see the Franc as a reincarnation of the Deutschmark, due to its “strong economy, massive foreign reserves, traditional haven status and close links with the German economy.” Those that fear a Eurozone collapse and/or want to make exclusive bets on Germany are now using the Franc as a proxy. I don’t personally understand the logic behind this strategy, but where perception is reality, it’s more important to understand that other investors see the connection rather than seeing the connection for oneself.
Going forward, there is mixed sentiment surrounding the Franc. One analyst warned clients, “I would be cautious about chasing it too far in the short term. There’s still a huge number of headwinds out there.” According to another analyst, “We expect the franc to remain strong throughout the decade.” Personally, I’m inclined to side with the former point of view. From a fundamental standpoint, there isn’t a whole lot to keep the Franc moving up and its recent surge is probably running on fumes. At the very least, I would expect a correction in the near-term.
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U.S. stock market looks for firmer view of economic recovery

NEW YORK (MarketWatch) -- The U.S. stock market's tepid two-week advance could pick up steam or falter altogether in coming weeks, depending on what a sizeable flow of economic reports has to say about the state of the recovery.
"Everybody is waiting to see the next couple of weeks of numbers so we can have a better idea of what is going on in the economy," said Hugh Johnson, chairman and chief investment officer at Hugh Johnson Advisors.
"The numbers are a touch more encouraging, and next week we'll start to see some numbers that tell us very clearly how things went in August," said Johnson.
The less-dark view was illustrated on Wall Street, where the major stock indexes on Friday eked out a second consecutive week of gains, supported by reports that U.S. wholesale inventories rose the most in two years and that Japan's growth slowed less than forecast, brightening prospects for the global recovery.
Up 1% for the week, the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed ( 10,463, +47.53, +0.46%) added 47.53 points, or 0.5%, to end at 10,462.77, with the blue-chip index ending back in the black for the year for the first time in the holiday-shortened week.
The S&P 500 Index /quotes/comstock/21z!i1:in\x ( 1,110, +5.37, +0.49%) added 5.37 points, or 0.5%, to 1,109.55, leaving it up 0.5% for the week, while the Nasdaq Composite /quotes/comstock/10y!i:comp ( 2,242, +6.28, +0.28%) added 6.28 points, or 0.3%, to 2,242.48, a rise of 0.4% from the week-ago close.
As equities climbed Treasurys fell, pushing the 10-year yield /quotes/comstock/31*!ust10y (2.80, 0.00, 0.00%) to a one-month high.
Crude-oil futures for October delivery climbed 3% to $76.45 a barrel, the highest finish in a month, as Chinese trade numbers pointed to a rise in crude imports and a pipeline between Canada and the U.S. was closed due to a leak.
Gold dropped for the commodity's first weekly decline in more than a month, with the contract for December delivery down 0.4% to $1,246.50 an ounce.

It's the economy, stupid

Economic reports in coming days will include figures on retail sales for August, and gauge of manufacturing activity in the New York region during September. The latter part of the week brings the government's count of initial claims for unemployment benefits, with the most recent count falling, including the four-week average.
"If the numbers come in with enough consistency to increase confidence then volume will pick up. What is lacking is confidence, and I don't think you build it on the back of one number," said Johnson.
A large portion of the summer had Wall Street veering from one dismal economic report to another, a scenario underscored by the worst August for stocks in nine years.
Yet September, historically the worst month of the year for equities, has so far had stocks on the mend as reports on the labor market, manufacturing and business activity came in better than expected, lifting sentiment a bit.
And, with November elections approaching, the economy and politics are in play, with President Barack Obama on Friday maintaining the U.S. economy is coming out of the worst recession in decades, while acknowledging the progress has been slow and conceding many Americans may fault him when they vote in November.
"He's quite right that the economy is in an expansion, and he's quite right that he wishes it were expanding more rapidly," said Johnson.
And, while the peak earnings' weeks are done, a few companies are scheduled to report results in the next few weeks, with six slated to announce quarterly results in the days ahead.
On Monday, Discover Financial Services /quotes/comstock/13*!dfs/quotes/nls/dfs ( 15.90, +0.19, +1.21%) reports, followed by Pall Corp. /quotes/comstock/13*!pll/quotes/nls/pll ( 37.55, +0.10, +0.27%) , Best Buy Inc. /quotes/comstock/13*!bby/quotes/nls/bby ( 33.88, +0.32, +0.95%) and grocer The Kroger Co. /quotes/comstock/13*!kr/quotes/nls/kr ( 21.25, +0.24, +1.14%) on Tuesday.
Global shipper FedEx Corp. /quotes/comstock/13*!fdx (84.16, -0.12, -0.14%) and business software titan Oracle Corp. /quotes/comstock/15*!orcl/quotes/nls/orcl ( 25.05, +0.72, +2.96%) are on tap for Thursday. Oracle, which recently hired ousted Hewlett-Packard /quotes/comstock/13*!hpq/quotes/nls/hpq ( 38.28, -0.54, -1.39%) executive Mark Hurd, is expected to report sharp gains in profit and sales.
Through Thursday, blended share-weighted earnings for the S&P 500 for 2010's second quarter stood at $200.3 billion, above the prior week's $199.8 billion, according to research compiled by Thomson Reuters analyst Christine Short.
Of the 496 companies in the S&P 500 that have reported earnings for the quarter, 75% have posted earnings that topped analyst expectations.
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