Week ahead 6/11/23: Aussie rates; UK growth; earnings
Marks & Spencer is among those out with Q3 numbers. IGTV’s Jeremy Naylor catches up with tastylive’s Tony Battista to discuss the climb in bond yieldsand the S&P 500.
(Video Transcription Summary)
Investors eagerly await RBA rates news
The trading market is a particularly exciting place to be next week with many events and information to pay attention to. IGTV host and financial analyst Jeremy Naylor provides a breakdown of what to expect.
On Monday, the Bank of Japan (BoJ) will release their meeting minutes, but experts believe it won't have a big effect on the market.
Keep an eye out for the Reserve Bank of Australia (RBA) meeting on Tuesday. The new governor wants to raise interest rates despite political opposition. This decision might influence the value of the Australian dollar. We'll also see UK retail sales, Chinese trade balance numbers and US crude oil inventories.
Wednesday brings us trade numbers from France, Euro Zone retail sales and US wholesale inventories. On Thursday, we'll get consumer and producer price data from China, along with weekly jobless claims from the US. The week will finish strong with the release of UK gross domestic product (GDP) data, trade balance numbers, industrial production and consumer sentiment.
Golden week for equities and bonds
Equities and bonds have had an outstanding week, with yields hitting a low point not seen since September. This means that the US Treasury is borrowing a lot in short-term offerings, suggesting they believe long-term interest rates will decrease. However, some experts think the US dollar needs to weaken for this trend to continue.
In terms of stocks, the S&P 500, NASDAQ, Wall Street and Dow Industrials have all been performing well. Keep an eye on Apple, though, as they recently missed their earnings expectations, raising concerns about their future performance. This may create an opportunity for new market leaders to emerge in the coming year.
Companies report earnings
Some big companies are reporting earnings next week. Some notable ones include Ryanair, Associated British Foods, Persimmon, UBS, Uber Technologies and Marks & Spencer.
Other earnings include ITV, Airbus, Walt Disney, Lyft, WH Smith, AstraZeneca, Deutsche Telekom and Allianz. AstraZeneca's report on COVID vaccines will be particularly interesting, as other companies in the industry have recently reported financial losses.
Overall, get ready for an eventful week filled with data releases and corporate earnings that have the potential to make waves in the trading market.
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