Weekly Outlook, 26 – 30 April
By: Ahura Chalki
Market analyst – IFC Markets
About 180 S&P 500 listed companies are reporting this week, including Tesla and FAANG’s, which makes that the busiest week of the first-quarter earnings season on Wall Street. Eight hundred eighty companies are down to report earnings next week.
Besides, that FED and BOJ policy meetings and press conferences will be at the center of attention. On the other hand, the following week will also include critical economic data.
Earning Reports and Big Techs.
Facebook, Amazon, Apple, and Google will publish their earnings report this week, after last week Netflix numbers to complete the FAANG reports. However, the week will start with Tesla’s earnings report on Monday to have another market giant in the spotlight.
And Tuesday, while Microsoft heating the markets, General Electric, Visa, Alphabet, and Sturbox earnings report will make it the busiest day of the week.
Wednesday Apple, eBay, Boeing and Ford motors, Thursday Master card, Twitter and Amazon, and finally Friday, we are waiting for Exon Mobile and Chevron reports.
FED and BOJ meetings
Tuesday Bank of Japan will hold its Interest Rate Decision, Statement, and Conference call. In the previous meeting, the BoJ extended its target band under the yield curve control policy and removed apparent targeting on ETF purchases, helping the central bank’s approach decrease the stimulus.
Day after BOJ, Federal Reserve Interest Rate Decision, and Statement with its Conference call will get the attention. We are not expecting any changes to interest rates, keeping it in a range between 0.0%-0.25percent. Still, the press conference is supposed to provide some tradeable comments after its two-day policy meeting.
Overview of Economic Calendar.
Monday: The U.S. durable goods orders and the German business expectation are due to release; both expect to increase and confirm the economic growth.
Tuesday: The U.S. house price index and Consumer Confidence, which are the same as goods order after better vaccination progress and reopenings, expect to raise and show a positive market reaction.
Wednesday: While Wednesday everything is about the FED meeting and giant reports, Australian inflation, Canadian Retail Sales, and EIA numbers also will be matter. EIA report expecting to confirms another growth of Oil inventories, as U.S. Baker Hughes Oil Rig Count numbers still increasing.
Thursday: As every Thursday, the jobless claim number is the most economic data of today. We are expecting another decrease to 560k for the claims in the week ending on 23 April. Also, the Australian Trade balance and European Harmonized Index of Consumer Prices are due to realize today. However, US GDP is the most significant number on Thursday, with a growth rate of 6.5% expected from a 4.3% last number.
Friday: Europeans will report their first-quarter GDP, day after Americans. It is expected to miss the expectations as the virus develops, in the Eurozone had another wave of restrictions. In the U.S. Chicago, Purchasing manager Index is expected to decrease from 66.3 to 63 in April. But Michigan Consumer Sentiment Index expecting to rise from 86.5 to 88 in April.
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