US Budget Statement

The US’ budget statement is set to be released at 18:00 GMT. This gives an overview of what various financial players associated with the government have been up to, with Federal Banks notably included in the reporting. Most consider a positive result as showing that the US is in positive waters, whilst a negative result suggests that the economy and market is bearish. Given last week's official bullish figures, fingers crossed for the positive!

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Oracle’s Earnings

The cloud tech giant Oracle is due to announce its earnings after the markets close today. Whilst many analysts have been giving positive EPS results (which is Earnings Per Share and helps indicate what the markets are thinking about a stock), their earnings for the last quarter were a lacklustre. However, having acquired a new healthcare company in late 2022 and the share price in the positive for the year, most are expecting a better outlook.

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Travelodge’s Sale

The British budget hotel chain Travelodge is set to be sold by its US hedge fund owners for the hefty price tag of hopefully £1.2billion. A post covid boom in sales combined with an uptick in holidaymakers choosing to stay in the UK as they feel the pinch of ongoing inflation has given the chain a healthy boost to profits, making it a potentially attractive investment for a buyer and a positive sale for the owners GoldenTree. Either way, it shows the changing scene of hotels as an investment since the pandemic as well as those that might now be thriving through tougher times. 

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Sources: Hargreaves Lansdown, Yahoo Finance, The Guardian, US Fiscal Bureau, Seeking Alpha, Reuters, AJ Bell