Company / Analytics

Analytics, 06 March 2023

What will drive the markets this week?

Oil prices initially experienced a brief sell-off before recovering and ultimately gaining more than $1 per barrel on Friday. The renewed optimism around demand from China, the top oil importer, helped drive prices higher, resulting in an overall gain for the week.

The MSCI world equity index, which tracks shares in 47 countries, rose by 1.47% on Friday and is up by 5.8% for the year.

This week, the focus will be on the U.S. labor market as several important reports are set to be released. On Wednesday, the Job Openings and Labor Turnover Survey (JOLTS) report will be published, providing insight into job vacancies and turnover rates. ADP’s National Employment Report, which tracks private sector payrolls, will also be released on the same day.

On Friday, the Labor Department will issue the nonfarm payrolls report for February, which will shed light on the state of the overall job market in the United States.

Furthermore, Federal Reserve Chair Jerome Powell will appear before Congress on Tuesday and Wednesday for his semiannual testimony on monetary policy. President Biden is scheduled to unveil his budget proposal for the upcoming fiscal year to Congress on Thursday.

Finally, Apple, the world’s most valuable company by market capitalization, will hold its annual shareholders’ meeting virtually on Friday. During this meeting, shareholders will vote on various proposals, including the re-election of the board of directors and executive pay approval.

Events expected to influence financial markets in the week

Monday, March 6

Tuesday, March 7

Wednesday, March 8

Thursday, March 9

Friday, March 10

Choose one or several trading platforms and achieve your goals with Investors Europe

Investors Europe (Mauritius) Limited is authorised and regulated by the FSC Mauritius, license C112011088. Registered address: 4th Floor, Les Jamalacs Building, Vieux Conseil Street, Port-Louis 11328, Republic of Mauritius. Registered Number: 113933.

Any information contained on this website is provided to you for informational purposes only and should not be regarded as an offer or solicitation of an offer to buy or sell any investments or related services that may be referenced here. Investing in certain instruments, including stocks, options, futures, foreign currencies, and bonds involve a high level of risk. Trading on margin comes with substantial risk as well. You must be aware of these risks before opening an account to trade. The income you may get from online investing may go down as well as up.