Company / Analytics

Analytics, 29 August 2022

What will drive the markets this week?

Global stocks slumped on Friday last week as US Fed Reserve Chair Jerome Powell mentioned in his speech that the central bank won’t back off in its fight against rapid inflation. All major US indices fell by more than 3% on Friday, to end a concurrent second week in losses. The fall also marked the biggest one-day fall since mid-June.

This week, analysts and investors will particularly be interested in the U.S. labor market, in anticipation of the Bureau of Labor Statistics (BLS) August nonfarm payrolls report on Friday. On Tuesday, the Job Openings and Labor Turnover Survey (JOLTS) report will provide the latest information on hires, quits, and separations for the month of July, while payroll services provider ADP will release its National Employment Report tracking growth in the nonfarm private sector payrolls.

Also expected are the ISM and Chicago Manufacturing PMI numbers, which will provide an update on the strength of the goods-producing sector. As corporate earnings season winds down, we can still expect reports from a number of influential companies, including Baidu, HP, Chewy, Best Buy, and Lululemon Athletica, among others.

Events, expected to move markets this week

Monday, August 29

Tuesday, August 30

Wednesday, August 31

Thursday, September 1

Friday, September 2

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