Company / Analytics

Analytics, 08 May 2023

What will drive the markets this week?

During the previous week, there was a notable surge in U.S. stocks on Friday, highlighted by the Dow’s largest one-day percentage gain since Jan. 6. The driving force behind this upward movement was Apple’s shares, which soared over 4% following positive financial results. Furthermore, encouraging U.S. jobs data indicated the resilience of the labor market, adding to the positive sentiment.

In Europe, the week concluded on a positive note for shares, supported by the strong performance of HSBC and an increase in oil prices. However, overall, the week experienced a decline due to significant central bank meetings and substantial earnings reports that impacted the market.

Across the Asia-Pacific region, market performance varied. Concerns regarding the banking sector resurfaced on Wall Street, leading to a four-day losing streak for the three major U.S. indexes.

This week is expected to be relatively quiet after a busy week of corporate earnings, jobs reports, and the latest FOMC meeting. Several companies, including PayPal, Airbnb, The Walt Disney Company, Electronic Arts, and automakers Toyota and Honda, among others, will be reporting their earnings.

Additionally, the Consumer Price Index (CPI) and Producer Price Index (PPI) for April will be released, providing the latest inflation readings. On Thursday, policymakers from the Bank of England (BoE) will hold a meeting to discuss interest rates. Finally, a gross domestic product (GDP) reading from the U.K. will be available on Friday.

Events expected to move the markets this week

Monday, May 8

Tuesday, May 9

Wednesday, May 10

Thursday, May 11

Friday, May 12

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