- Earnings season accelerates
- Chinese GDP update
- More inflation news
Monday 17 October
Overnight sees the release of the UK’s Rightmove House Price Index along with Revised Industrial Production and Tertiary Industry Activity from Japan. Later we have the US Empire State Manufacturing Index, Canada’s BOC Business Outlook Survey, and New Zealand’s Consumer Price Index (CPI). Today’s earnings announcements include Bank of America, United Airlines, Interactive Brokers, and BNY Mellon.
Tuesday 18 October
The day kicks off with the release of Monetary Policy Meeting Minutes from the Reserve Bank of Australia (RBA). These will be of interest as market participants will look for reasons why the RBA chose to raise rates by 25 basis points, rather than the 50 basis points expected, at their last meeting. Then we have an update on Chinese GDP. Last quarter this slumped to just +0.4% year-on-year, a dramatic slowdown from the +4.8% year-on-year recorded just three months earlier. Is it possible that we could see a negative GDP number from China? Other Chinese releases today include Fixed Asset Investment, Industrial Production, Unemployment and Retail Sales. From Germany and the Euro zone we have ZEW Economic Sentiment surveys. From Italy we have the Trade Balance. In the afternoon there’s Canadian Housing Starts, and Foreign Securities Purchases, and from the US we have Capacity Utilisation, Industrial Production, and TIC Long-Term Purchases. Tuesday’s most significant earnings releases include Goldman Sachs, IBM, Biogen, Tenet Healthcare, Las Vegas Sands, Hasbro, Tesla, Johnson & Johnson,
Wednesday 19 October
Overnight we have Australia’s MI Leading Index. Then we have UK inflation data in the form of CPI, the Producer Price Index (PPI), and the Retail Price Index (RPI). Two months ago, Headline CPI, which includes food and energy, came in above 10% annualised to hit its highest level in over 40 years. It dipped slightly last month, and the hope is that it may have peaked. But US inflation also looked like it had peaked over the summer only for it to turn higher again. So, the concern is that UK inflation could also turn up again. There are additional CPI updates for the Euro zone and Canada. From the US there’s Building Permits, Housing Starts, weekly Crude Oil Inventories, and the Fed’s Beige Book. Major earnings reports come from Alcoa, Ally Financial, American Airlines, BJ’s Restaurants, Baker Hughes, Blackstone, Interpublic, Procter & Gamble, Intel, and Travelers.
Thursday 20 October
Overnight there’s the Japanese Trade Balance and from Australia we have an update on unemployment, the NAB Quarterly Business Confidence survey, and RBA Annual Report. Then there’s the Swiss Trade Balance, German PPI, and the Euro zone Current Account. From the US we have the Philly Fed Manufacturing Index, Existing Home Sales, the CB Leading Index, and weekly Unemployment Claims. Key earnings reports come from AT&T, American Express, Honeywell, HCA Healthcare, Philip Morris, and CSX Corp.
Friday 21 October
Overnight we have the UK’s GfK Consumer Confidence survey and the National Core CPI from Japan. Then there’s Retail Sales and Public Sector Net Borrowing from the UK. Rounding things off, we have Canadian Retail Sales. Earnings come from Corus Entertainment, Verizon, and Schlumberger.
David Morrison is an Analyst with Trade Nation. Trade Nation was set up with the specific remit to help customers realise their trading goals by changing the way they engage with the financial markets. As well as providing full transparency and making sure all customers get a fair deal, Trade Nation is fully regulated. This means customers can be confident they’re getting the trading experience they deserve. Visit www.tradenation.com to find out more
