Investing.com - Australian shares are predicted to experience a downturn at the start of the trading week, with investors keenly awaiting the quarterly earnings reports from two of the most influential tech companies.
Investors are also bracing themselves for potential market fluctuations in response to President Joe Biden's announcement to step down from his reelection campaign and endorse Vice President Kamala Harris. This unexpected political move has left market players assessing its potential impact on Donald Trump’s prospects of reclaiming the presidency.
The market's attention is particularly focused on the upcoming quarterly earnings reports from Alphabet (NASDAQ:GOOGL) Inc (NASDAQ:GOOG), the parent company of Google, and electric vehicle giant Tesla Inc (NASDAQ:TSLA). These reports are due to be released after the market closes on Tuesday (Wednesday AEST). However, investors will have to hold their breath until the succeeding week for the financial reports from Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), Amazon.com Inc (NASDAQ:AMZN), and Apple Inc (NASDAQ:AAPL). NVIDIA Corporation (NASDAQ:NVDA), another tech heavyweight, is expected to disclose its report later in August.
In the local bond markets, the rates for Australia 10-year and 2-year bonds were at 4.244% and 4.131%, respectively.