Company / Analytics

Analytics, 31 October 2022

What will drive the markets this week?

Last week underwent a highly volatile trade that ended mostly highly for European and US equities. Global stocks, with the exception of stocks in Asia, rallied on Friday following positive economic data and better-than-expected earnings reports among US mega-cap companies. All major US indices ended Friday’s session with weekly gains.

Indices in Europe tracked Wall Street to gains, with all major indices with exception of the FTSE recording gains. Stocks in Asia however, posted gloomy weekly results as Chinese cities introduced new COVID-19 curbs, while a broader rout in technology stocks spilled over into Asia after a slew of weak earnings from U.S. heavyweights.

This week will be an eventful one for financial markets, with earnings reports expected from several prominent companies including Stryker, Aflac, Pfizer, Moderna, Toyota, Honda, Qualcomm, PayPal, Starbucks, and Kellogg’s, among others. Policymakers at the U.S.

Federal Reserve will gather for the two-day November policy meeting of the Federal Open Market Committee (FOMC) beginning Tuesday, with a key interest rate decision expected on Wednesday.

The U.S. labor market will also be in the spotlight, as several key reports, including the Bureau of Labor Statistics (BLS) October nonfarm payrolls report, will be released. The Institute for Supply Management (ISM) will release the latest PMI figures for the U.S. manufacturing and service sectors.

Events expected to influence financial markets in the week

Monday, October 31

Tuesday, November 1

Wednesday, November 2

Thursday, November 3

Friday, November 4

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