Company / Analytics

Analytics, 09 August 2021

What will drive the markets this week?

Stocks closed mostly high last week supported by a better-than-expected US jobs report which showed a positive economic rebound. But a rise in long-dated benchmark bond yields and the U.S. dollar hurt consumer discretionary & technology stocks, putting pressure on growth stocks.

Earnings continue this week with more than 1,000 U.S. companies including Disney, eBay, Airbnb, Sonos, Wendy’s, and DoorDash reporting. Corporate earnings continue to top expectations with around 88% of companies beating analysts’ forecasts for the last quarter. Some analysts have raised their earnings forecasts for the third quarter, with expectations of growth in profits.

Investors will also parse key economic reports including the US consumer and housing markets that will provide more insight into the health of the consumer and housing markets. Industrial production figures from the EU and India are due for release on Thursday.

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