What will drive the markets this week?
Global stocks closed at all-time highs Friday as strong corporate earnings, economic data in the US, and robust Chinese growth data led both US and European stocks to extend their recent rallies.
Returns were broad across sectors, with 10 out of the 11 S&P sectors ending the week higher. Utilities sector outperformed, returning 3.7% while the communication sector lagged, dragged by Facebook which ended the week lower 2.1% lower.
The earnings season continues this week with about 80 of the S&P 500 members and more than 50 Stoxx 600 firms announcing results. Coca-Cola, IBM, Johnson & Johnson, and Netflix are among corporates expected to report earnings this week.
Investors will also parse a range of economic data from the US, including the U.S. housing market and decisions of the European Central Bank meeting on Thursday.
Monday, April 19:
- People’s Bank of China Loan Prime Rate Decision
- Canadian Housing Starts (March)
Tuesday, April 20:
- Earnings: Netflix & United Air Lines
- U.K. Unemployment Rate (February)
- U.K. Unemployment Claimant Count Change (March)
- Germany Producer Price Index (PPI) (March)
Wednesday, April 21:
- Market Holiday in Brazil for Tiradentes Day and in India for Ram Navami.
- U.K. Consumer Price Index (CPI) (March)
- Canadian CPI (March)
- Bank of Canada Monetary Policy Report and Interest Rate Decision
Thursday, April 22:
- Earnings: AT&T, American Airlines, and SNAP
- European Central Bank Monetary Policy Statement and Interest Rate Decision
- U.S. Existing Home Sales (March)
- Japanese Core CPI (March)
Friday, April 23:
- U.K. Retail Sales (March)
- U.K. Preliminary Manufacturing and Services Purchasing Managers Indexes (PMIs) (April)
- French Preliminary Manufacturing and Services (PMIs) (April)
- German Preliminary Manufacturing and Services (PMIs) (April)
- Eurozone Preliminary Manufacturing and Services (PMIs) (April)
- U.S. New Home Sales (March)
- U.S. Preliminary Manufacturing and Services (PMIs) (April)