Company / Analytics

Analytics, 05 July 2021

What will drive the markets this week?

Global stocks closed higher last week with American indices booking a fresh all-time high boosted by impressive jobs data while chipmakers boosted European stocks.

With the second quarter ending last week, firms are expected to start preparing their quarterly earnings in the next two weeks, and the market is likely to be quiet of corporate news for most of this month. But the economic calendar is expected to busy, with major reports from leading economies that will offer more details on the pace of economic recovery.

In the US investors will parse the reports on manufacturing, minutes of the Federal Open Market Committee (FOMC) and the Markit Services and Composite PMI, and the U.S. Bureau of Labor Statistics JOLTS report for May. In Europe, we will see the release of the Markit Services PMI for the area (Monday), which follows a similar report in China – China’s Caixin Services (PMI) on Sunday.

In corporate news, Amazon gets a new CEO – Andy Passy - who takes over from founding CEO Jeff Bezos’s who is stepping into the Executive Chairman role. A few companies, notably Levi-Strauss will release earnings this week.

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