Week ahead as US Earnings Reports aim Center Stage

As the US economy struggles to get traction, the upcoming week is expected to offer relatively little economic data. It will, however, be jam-packed with a ton of high-profile earnings announcements from some of the most well-known American companies. The reports will contribute to the debate over whether or not the greatest economy in the world is currently experiencing a recession and provide important information about how corporate America is faring. Among the biggest companies expected to report are Johnson & Johnson, Goldman Sachs, Netflix, IBM, American Express, Blackstone, and Procter & Gamble. The figures for new residential construction and building permits for March will provide more details on the status of the real estate market.

NewsOTG gathered that S&P Global will release April purchasing manager surveys that track activity in the US manufacturing and services sectors. Investors will be closely monitoring the typical weekly data on unemployment insurance claims in an effort to spot any indications of a weakening labor market. Canada will release its March CPI and February retail sales figures, while Europe’s European Central Bank (ECB) will release the minutes of its most recent monetary policy meeting. Regulators announced a half-point rate increase in March, and markets anticipate two additional 25 bps rate increases by the middle of the year to fight inflation.

The UK’s economic calendar will also include significant news on retail trade, GfK consumer confidence, and S&P Global PMIs. While unemployment is predicted to tick up and retail sales to decline, the annual inflation rate is predicted to relax to a 9-month low. The first quarter GDP growth data for China will be a big feature of the week in Asia, giving an indication of the early scope of the nation’s openness. Retail sales, the unemployment rate for March, and industrial production are a few more significant reports. Some investors are making the assumption that the PBoC may lower its Loan Prime rates in light of recent inflation figures that are weak and mixed.

Investors in Japan look forward to the March inflation and trade statistics, followed by the April PMI results. Malaysia will release its March CPI print, while Indonesia will make a decision about its monetary policy. In Australia, the RBA’s most recent meeting’s minutes will shed light on the decision of the central bank to suspend tightening at 3.6%. The much anticipated Australian reports will also include April’s Flash PMI data, while New Zealand will present its first-quarter inflation rate. Investors and experts alike will be watching these statistics closely as they continue to look for indications of an economic rebound in the face of persistent uncertainty.