Company / Analytics

Analytics, 09 January 2023

What will drive the markets this week?

It was a good opening week for global equities markets last week as a jobs report in the US raised investors’ sentiments about inflation going down. Analysts speculated that the Federal Reserve’s interest rate hikes are having their intended effect and the Fed was likely to go slow on interest rates this year. This sent all major indices in the US to gains.

In Europe, equities tracked Wall Street gains as investors in the Eurozone digested news on headline inflation, which includes food and energy costs, that came in at 9.2% year-on-year in December. It follows November’s headline inflation rate of 10.1%, which represented the first slight contraction in prices since June 2021.

This week, market watchers can expect the latest consumer inflation figures, as the Bureau of Labor Statistics (BLS), will release the Consumer Price Index (CPI) for December on Thursday. Corporate earnings season kicks off next week, with earnings reports expected from big banks and the financial sector. JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, and BlackRock are scheduled to report on Friday. Other major companies, including Taiwan Semiconductor Manufacturing Company, UnitedHealth Group, and Delta Air Lines will also report earnings next week. The University of Michigan’s Consumer Sentiment Index (MCSI) will provide an update on consumer confidence on Friday.

Events expected to influence financial markets in the week

Monday, January 9

Tuesday, January 10

Wednesday, January 11

Thursday, January 12

Friday, January 13

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