What will drive the markets this week?
Global equities closed mostly lower last week as both American and European benchmarks suffered weekly losses, following weaker-than-expected jobs report in the US and Eurozone inflation. Asian stocks rose, however, and analysts believe investors may be targeting “attractive, cheaper” Asian stocks amid an impending rate hike in the US.
This week, major US banks including JPMorgan Chase, Wells Fargo, BlackRock, and Citigroup and First Republic Bank report earnings. Delta Airlines, Taiwan Semiconductor Manufacturing (TSMC), Infosys and IHS Markit also report earnings. Investors will also parse economic data including key consumer and producer inflation reports, with business optimism and consumer sentiment data from around the world.
The Senate Banking Committee will hold confirmation hearings for the reappointment of Jerome Powell as Federal Reserve chair and the appointment of Lael Brainard as vice-chair.
Monday, January 10:
- Earnings: Concentrix Corporation (CNXC) reports earnings.
- U.S. Wholesale Inventories (November)
- U.S. Consumer Inflation Expectations (December)
- EA Unemployment Rate (November)
Tuesday, January 11:
- Earnings: Albertsons (ACI) and TD SYNNEX (SNX)
- NFIB Business Optimism Index (December)
- IBD/TIPP Economic Optimism Index (January)
- China Consumer Price Index and Producer Price Index (December)
Wednesday, January 12:
- Earnings: Infosys (INFY), Wipro (WIT), IHS Markit (INFO), and Shaw Communications (SJR).
- U.S. Consumer Price Index (December)
- China Imports/Exports (December)
- EA Industrial Production (November)
Thursday, January 13:
- Earnings: TSMC (TSM), First Republic Bank (FRC), Delta (DAL), and Washington Federal (WAFD).
- U.S. Producer Price Index (December)
- China Vehicle Sales (December)
Friday, January 14:
- Earnings: JPMorgan Chase (JPM), Wells Fargo (WFC), BlackRock (BLK), and Citigroup (C).
- Retail Sales (December)
- U.S. Industrial Production (December)
- U.S. Michigan Consumer Sentiment, Preliminary (January)
- U.S. Capacity Utilization (December)
- U.S. Business Inventories (November)