Company / Analytics

Analytics, 24 April 2023

What will drive the markets this week?

Investors weighed the latest round of corporate earnings results last week, causing a gauge of global stocks to decline for a third straight day. Meanwhile, longer-dated US yields rose after a gauge of business activity climbed. On Wall Street, the S&P 500 closed slightly higher, with the consumer staples sector up 0.75%. Procter & Gamble climbed 3.46% after the maker of products such as toothpaste and laundry detergent beat quarterly estimates and raised its sales outlook.

This week, some of the world’s largest companies, including tech giants Apple, Amazon, Google parent Alphabet, Microsoft, and Meta Platforms, will report earnings.

On Tuesday, the latest data on home prices will be released, with the Case-Shiller National Home Price Index for February, along with new and pending home sales for March. On Thursday, the Bureau of Economic Analysis (BEA) will release its advance estimate for first-quarter gross domestic product (GDP). Consumer sentiment readings from the Conference Board and University of Michigan are also expected.

On Friday, there will be a key update on inflation with the release of the Personal Consumption Expenditures (PCE) Price Index, the Federal Reserve’s preferred inflation gauge, for March.

Events expected to move the markets this week

Monday, April 24

Tuesday, April 25

Wednesday, April 26

Thursday, April 27

Friday, April 28

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