Company / Analytics

Analytics, 19 December 2022

What will drive the markets this week?

Last week Friday, global stocks were mostly lower following the US federal reserve’s decision to raise interest rates by 50 basis points on Wednesday and the European Central Bank’s decision to move its key interest rate from 1.5% to 2% on Thursday.

All the major indices on Wall Street recorded losses on Friday and all ended with weekly losses. Investors showed fears after the fed further signaled even more policy tightening in 2023 and even provided projections that interest rates would top the 5% mark in 2023, a level not seen since 2007.

*This week the U.S. housing market will also be in the spotlight, with the NAHB Housing market Index due for release on Monday, followed by housing starts and building permits on Tuesday. Data on new and existing home sales for November will be released later in the week. *

On Friday, the Bureau of Economic Analysis (BEA) will issue the Personal Consumption Expenditures (PCE) Price Index for November—the Federal Reserve’s preferred gauge of inflation. Companies reporting earnings next week will include Carnival Corporation, Nike, General Mills, FedEx, Micron Technology, and CarMax, among others.

Events expected to influence financial markets in the week

Monday, December 19

Tuesday, December 20

Wednesday, December 21

Thursday, December 22

Friday, December 23

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