Company / Analytics

Analytics, 17 July 2023

What will drive the markets this week?

On Friday, the S&P 500 experienced a slight decline as bank and financial shares reported lower earnings during the start of the earnings season. Nevertheless, the three major U.S. stock indexes achieved substantial gains for the week.

In Europe, stock indexes remained relatively unchanged. The STOXX decreased by 0.11%, London’s FTSE 100 by 0.08%, and Germany’s DAX by 0.2%. Axfood, a Swedish food retailer, reported growth in retail sales for the second quarter despite a decrease in inflation, leading to an 8.1% increase in its shares.

Asia-Pacific markets saw an increase in stocks on Friday, driven by lower-than-expected inflation data from the U.S. This raised hopes of reduced inflation without negatively impacting the labor market.

The upcoming week marks a significant acceleration in the earnings season, as several major companies, including Bank of America, Morgan Stanley, Lockheed Martin, Tesla, Netflix, IBM, Goldman Sachs, Johnson & Johnson, and United Airlines, among others, will announce their quarterly results. These reports will provide valuable insights into the financial performance of these key players.

The U.S. Census Bureau will release retail sales data for June, offering an important update on consumer spending trends. Additionally, we can anticipate the latest reports on the housing market, which encompass building permits, housing starts, existing home sales for June, and the NAHB’s Housing Market Index, providing an indication of the industry’s sentiment.

The most recent inflation figures from the U.K., eurozone, and Japan will also become available, shedding light on price dynamics in these regions. These readings are crucial for understanding the broader economic landscape and its potential implications.

Events expected to move the markets this week

Monday, July 17

Tuesday, July 18

Wednesday, July 19

Thursday, July 20

Friday, July 21

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