Company / Analytics

Analytics, 26 June 2023

What will drive the markets this week?

Last week, the closing of the trading week on Friday brought a decline in U.S. stocks, concluding a week that revolved around the testimony of Federal Reserve Chairman Jerome Powell. Powell’s statements hinted at the possibility of forthcoming interest rate hikes, although the central bank expressed a cautious approach.

European shares followed suit with a dip, as the week unfolded with significant news related to central bank policies, further reinforcing the notion of potentially prolonged higher interest rates.

Meanwhile, Asia-Pacific markets witnessed losses as investors closely monitored inflation data from Japan and Singapore. Additionally, the market paid close attention to flash estimates from au Jibun bank concerning Japan’s manufacturing and services sectors.

This week, we can anticipate updates on the housing market, including April home prices and May new home sales. On Friday, the Bureau of Economic Analysis (BEA) will provide the release of the Personal Consumption Expenditures (PCE) Price Index, which serves as the Federal Reserve’s preferred inflation measure.

Furthermore, we will receive consumer sentiment readings from both the Conference Board and the University of Michigan, along with the final estimate for the first-quarter gross domestic product (GDP). Additionally, inflation and unemployment data for the eurozone will also become available. Notable companies such as Carnival Cruise Line, Walgreens, Micron Technology, General Mills, and Nike are expected to report their earnings next week.

Events expected to move the markets this week

Monday, June 26

Tuesday, June 27

Wednesday, June 28

Thursday, June 29

Friday, June 30

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