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WEEK AHEAD - Tech earnings plus BOJ & ECB meeting

A preview of the news, earnings, and economic data to expect in the week ahead. This week there are earnings from Big tech including the likes of Apple and Facebook (Metaverse!?) - as well as interest rate decisions from the ECB and BOJ - and US Q3 GDP data.

What happened this week

5-day performance as of Friday October 22, 12pm CET

financial markets performance

Source: Finviz.com

Top 5 stories for the coming week:

The 5 events, news stories or market price action that could shape the week ahead:

1.     Apple earnings

The world's biggest company by market cap - Apple - reports its Q3 results this week. The company released the iPhone 13 in September but that should have little bearing on these numbers. Demand for iPhones remains strong, particularly as people upgrade to 5G. Headwinds include the supply chain bottlenecks and rising prices that could squeeze Apple's traditionally very high margins and slow sales because of low product availability. 

2.     Facebook earnings

A whistle-blower interview on the US TV show 60-minutes coupled with an hours-long outage of all social media services meant Facebook has been in the news for all the wrong reasons over the past few weeks. The result was a 17% drawdown in the stock price with five successive weekly declines. But things are starting to turnaround amid the rebrand to Metaverse and ahead of these Q3 results.

Read more in our special preview of Facebook earnings

3.     Big Tech

Facebook is not the only big tech company reporting results over the next week. Other parts of the acronyms FAANG and/or FANGMAN are also on the agenda.

Monday 25th - Facebook
Tuesday 26th - Microsoft and Alphabet
Thursday 28th - Apple and Amazon

4.     ECB & BOJ

FX analysts appear to be viewing this ECB meeting as a prelude to December i.e. for nothing to happen. It's in December when the ECB release its next set of projections and will be in a better place to manage the message of any further reduction in stimulus.

It could be a busier meeting for the BOJ  - new Japanese Prime Minister Fumio Kushida is questioning ‘Abenomics’ and volatility in the Japanese yen has picked up. Despite the drama, relatively low inflation in Japan means the BOJ will probably still be one of the last central banks to taper asseet purchases and a rate hike looks a long way off. 

5.     US Q3 GDP

The other part of the US stagflation equation is coming this week. We've had the rising inflation and decelerating jobs growth - now we will get the slowing economic growth. Rising stock markets and higher bond yields imply investors don't see any growth slowdown as an immediate impediment to the Fed tapering this year, but were GDP to miss expectations, optimistic sentiment could be tested.

Economic Calendar:

 

TIME (GMT)

COUNTRY

EVENT

CONSENSUS

PREVIOUS

Mon 25

08:00

Germany

IFO – Expectations(Oct) 

96.5

97.3

Tues 26

14:00

USA

New Home Sales (MoM)(Sep) 

0.763M

0.74M

Wed 27

00:30

Australia

Consumer Price Index (YoY)(Q3) 

3.80%

3.80%

 

12:30

USA

Durable Goods Orders(Sep) 

-0.20%

1.80%

 

14:00

Canada

BoC Interest Rate Decision 

0.25%

0.25%

Thur 28

03:00

Japan

BoJ Interest Rate Decision 

-0.10%

-0.10%

 

03:00

Japan

BoJ Outlook Report(Q3) 

 

 

 

11:45

Eurozone

ECB Interest Rate Decision 

0%

0%

 

12:30

USA

Gross Domestic Product Annualized(Q3) PREL  

3.20%

6.70%

 

06:00

Germany

Gross Domestic Product (YoY)(Q3) PREL  

-

9.40%

Fri 29

10:00

Eurozone

Consumer Price Index (YoY)(Oct) PREL  

3.30%

3.40%

 

12:30

USA

Core PCE - Price Index (YoY)(Sep) 

-

3.60%

 

Source: FXStreet.com

 

Corporate earnings:

TIME

COMPANY

EVENT

Oct-18

Charles Schwab

Q3 2021 Earnings

Oct-18

Philips N.V.

Q3 2021 Earnings

Oct-18

State Street Corp.

Q3 2021 Earnings

Oct-18

Sandvik AB

Q3 2021 Earnings

Oct-19

Johnson & Johnson

Q3 2021 Earnings

Oct-19

Procter & Gamble Co.

Q1 2022 Earnings

Oct-19

Netflix Inc.

Q3 2021 Earnings

Oct-19

Philip Morris Inc.

Q3 2021 Earnings

Oct-19

Bank of New York Mellon

Q3 2021 Earnings

Oct-19

Telefon AB L.M.Ericsson (A)

Q3 2021 Earnings

Oct-19

Ericsson (Telefon AB L.M.Ericsson) (B)

Q3 2021 Earnings

Oct-19

Travelers Inc (Travelers Companies)

Q3 2021 Earnings

Oct-19

Deutsche Börse AG

Q3 2021 Earnings

Oct-19

Nestle India Ltd Dematerialised

Q3 2021 Earnings

Oct-20

Tesla

Q3 2021 Earnings

Oct-20

Verizon Inc.

Q3 2021 Earnings

Oct-20

Abbott Laboratories

Q3 2021 Earnings

Oct-20

NextEra Energy Inc

Q3 2021 Earnings

Oct-20

IBM Corp. (International Business Machines)

Q3 2021 Earnings

Oct-20

Biogen Inc

Q3 2021 Earnings

Oct-20

EQT AB Registered Shs

Q3 2021 Earnings

Oct-20

Kinder Morgan Inc (P)

Q3 2021 Earnings

Oct-20

Discover Financial Services

Q3 2021 Earnings

Oct-20

PPG Industries Inc.

Q3 2021 Earnings

Oct-20

Nasdaq Inc

Q3 2021 Earnings

Oct-20

Las Vegas Sands Corp.

Q3 2021 Earnings

Oct-20

Svenska Handelsbanken AB (A)

Q3 2021 Earnings

Oct-21

PayPal Inc

Q3 2021 Earnings

Oct-21

Danaher Corp.

Q3 2021 Earnings

Oct-21

Intel Corp.

Q3 2021 Earnings

Oct-21

AT&T Inc. (AT & T Inc.)

Q3 2021 Earnings

Oct-21

SAP SE

Q3 2021 Earnings

Oct-21

Blackstone

Q3 2021 Earnings

Oct-21

Union Pacific Corp.

Q3 2021 Earnings

Oct-21

Snap Inc. (Snapchat)

Q3 2021 Earnings

Oct-21

Marsh & McLennan Cos. Inc.

Q3 2021 Earnings

Oct-21

Chipotle Mexican Grill Inc.

Q3 2021 Earnings

Oct-21

Nordea Bank Abp Registered Shs

Q3 2021 Earnings

Oct-21

Volvo AB (A)

Q3 2021 Earnings

Oct-21

NHN Corp

Q3 2021 Earnings

Oct-21

Volvo AB (B)

Q3 2021 Earnings

Oct-21

Barclays plc

Q3 2021 Earnings

Oct-21

SVB Financial Group Shs

Q3 2021 Earnings

Oct-21

Southwest Airlines Co.

Q3 2021 Earnings

Oct-21

Swedbank AB

Q3 2021 Earnings

Oct-22

Reliance Industries Ltd Dematerialised

Q2 2022 Earnings

Oct-22

Honeywell

Q3 2021 Earnings

Oct-22

American Express Co.

Q3 2021 Earnings

Oct-22

Chugai Pharmaceutical Co. Ltd.

Q3 2021 Earnings

Oct-22

Roper Industries Inc.

Q3 2021 Earnings

Oct-22

Sika AG

Q3 2021 Earnings

Oct-22

Schlumberger N.V. (Ltd.)

Q3 2021 Earnings

Oct-22

China Telecom Corp. Ltd.

Q3 2021 Earnings

Oct-23

ICICI Bank Ltd

Q2 2022 Earnings

 

Source: markets.businessinsider.com/earnings-calendar

Good luck trading this week!

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