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
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!
