The upcoming week brings another batch of economic data from the world’s largest economies, as well as insights into central bank’s recent policy decisions.
Most stocks held steady Wednesday as oil prices and safe-haven assets rose, signaling markets have mostly absorbed the impact of escalating Middle East tensions.
Japan’s benchmark Nikkei index pulled back following Shigeru Ichiba’s win as new PM, while Chinese stocks surged ahead on Beijing’s stimulus measures.
Fresh US retail sales data appears to have reassured Wall Street, easing fears of a slowdown; the S&P 500 and Nasdaq are both on track for weekly gains.
As we approach the end of August, markets are gearing up for a week filled with several key releases, such as the final Eurozone inflation reading for July, FOMC meeting minutes, UK, US, and Eurozone PMIs, as well as the weekly jobless claims reading from the US Department of Labor.
Markets were up on Wednesday ahead of the US inflation reading for July, with forecasts indicating a mild increase of 0.2% for the CPI.
Japan’s Nikkei 225 index jumped on Tuesday, driving global stocks higher ahead of a data-packed week that will see the release of US inflation figures.
This week has several key data releases in store, with the US CPI reading taking centre stage on Wednesday — the Federal Reserve has said it needs to see more evidence of slowing US inflation before it cuts interest rates.
A tame week ahead for the markets to start August, with several key earnings reports on tap, such as Warren Buffett’s Berkshire Hathaway and ride-hailing app Uber, which will try to reassure investors after a disappointing showing in Q1.
The Microsoft earnings report and JOLTS job openings survey will be key for markets on Tuesday as the Federal Reserve gets its policy meeting underway.
Global stocks edged higher on Monday as markets braced for a week filled with earnings reports and interest rate decisions from the Fed, BoE, and BoJ.
A busy week lies ahead for the markets, as earnings season continues with Magnificent 7 members Microsoft, Meta, Apple, and Amazon all reporting.
The Japanese yen headed for its largest weekly gain since late April on Friday, as traders unwound long-held positions against the currency.
U.S. stock indices closed higher on Monday as Wall Street processed incumbent President Joe Biden's withdrawal from the 2024 presidential race.
CrowdStrike stock appeared to even out on Tuesday after plunging for two straight days due to company’s faulty software update disrupting global technology.
Gold crept up and the US dollar dipped as Joe Biden announced he was ending his re-election bid and backing VP Kamala Harris as the Democratic nominee.
Volkswagen shares dipped on Wednesday after the firm issued a profit warning overnight and announced it was considering closing an Audi plant in Brussels.
The New Zealand dollar slipped against the greenback on Wednesday after the country’s central bank kept its key interest rate steady.
Sterling remained steady near one-month highs against the U.S. dollar on Tuesday, as investors continued to take in the UK and French election results.
BP shares fell by over 4% on Tuesday as the firm announced its Q2 profit could fall by up to $700m on weak refining margins and lower oil trading results.
