Company / Analytics

Analytics, 23 January 2023

What will drive the markets this week?

Last week witnessed mixed trading as various indices, including the Dow, the S&P 500, and Europe’s STOXX 600, ended the week in losses. Stocks rose on Friday, but those gains were not enough to offset losses from earlier in the week.

In the US, quarterly earnings from Netflix and Alphabet announcing job cuts drove their respective stocks higher, driving a more than 2% rise on the Nasdaq which ended in a 0.5% weekly gain. Netflix Inc shares jumped 8.46% as the streaming company added more subscribers than expected in the fourth quarter.

This week, earnings season could enter one of its busiest weeks with reports from some of the largest companies in the world. We can expect earnings from Microsoft, Johnson & Johnson, Tesla, AT&T, Verizon, Boeing, IBM, Visa, and Mastercard, among others. On Tuesday, S&P Global will release its Composite PMI for January, gauging business activity across the U.S. On Thursday, the Bureau of Economic Analysis (BEA) will issue the advance estimate for the fourth-quarter gross domestic product (GDP), followed by its Personal Consumption Expenditures (PCE) Price Index for December on Friday. The latest updates on the housing market will include new and pending home sales for December.

Events expected to influence financial markets in the week

Monday, January 23

Tuesday, January 24

Wednesday, January 25

Thursday, January 26

Friday, January 27

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