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Analytics, 14 November 2022

What will drive the markets this week?

Global stocks ended mostly higher on Friday last week following a report by the US fed that showed inflation in the US was slowing down. The S&P 500 closed out its best week since June as the Nasdaq ended the week 8% higher. The yield on benchmark U.S. 10-year paper slipped below 4% on Thursday. U.S. bond markets are closed on Friday for Veterans Day.

In Europe and Asia, equities recorded their best weekly performance in nearly eight months on Friday, largely driven by bets of smaller rate hikes by the Federal Reserve and easing COVID-19 curbs in China.

This week, big-box retailers including Walmart, Target, Macy’s, Home Depot, and Lowe’s will report earnings, in what could be the last big week of this corporate earnings season as it winds down. On Wednesday, the U.S. Census Bureau will release retail sales data for the month of October, providing a key update on consumer spending heading into the holiday shopping season.

Fresh housing market data will also be released, with October housing starts, building permits, and existing home sales due, as well as the NAHB’s Housing Market Index.

We can expect updates from the U.S. manufacturing sector with industrial production data for October and the Philadelphia Fed Manufacturing Index for November.

Events expected to influence financial markets in the week

Monday, November 14

Tuesday, November 15

Wednesday, November 16

Thursday, November 17

Friday, November 18

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