Company / Analytics

Analytics, 17 April 2023

What will drive the markets this week?

On Friday, Wall Street closed lower due to mixed economic data that reinforced the possibility of another Federal Reserve interest rate hike, dampening investor enthusiasm after the launch of first-quarter reporting season with strong earnings from major U.S. banks.

In contrast, European shares reached their highest point in over a year and finished their fourth consecutive week in positive territory, buoyed by positive earnings from U.S. banks and hopes of the end of the Federal Reserve’s rate-hiking cycle. Similarly, Asia-Pacific markets mostly rose on Friday, following Wall Street’s lead, as the U.S. producer price index indicated further signs of decreasing inflation.

Next week, earnings season will be in full swing as several prominent companies, including Johnson & Johnson, Bank of America, Netflix, Lockheed Martin, Tesla, Morgan Stanley, IBM, American Express, and Procter & Gamble, among others, are scheduled to report earnings. Additionally, we can expect updates on the housing market, including the release of March housing starts, building permits, and existing home sales data, as well as the NAHB’s Housing Market Index for April. Inflation readings will also be available from the U.K., eurozone, and Japan, and China’s first-quarter GDP figures will be released.

On Monday, the U.S. Supreme Court will hear arguments in Slack vs. Pirani, a complex securities law case with potential implications for investors looking to sue companies over alleged misstatements or omissions in their registration statements during direct listings. Depending on the outcome, this case could impact the viability of direct listings as an attractive option for investors.

Events expected to move the markets this week

Monday, April 17

Tuesday, April 18

Wednesday, April 19

Thursday, April 20

Friday, April 21

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