The week includes some events that will drive equities and bond markets around the globe. News on Friday that China might cancel some of the covid restrictions boosted the investor’s sentiment and supported the equities markets, but on Saturday the National Health Commission said in a press conference that China still faces a complex and severe Covid situation, and the government will keep the dynamic zero Covid policy.
Federal Reserve is now expected to slow the pace of rate hikes after four 75 basis points hikes in the last four meetings. Economists now expect125 basis points hikes until the second quarter of 2023.
Monday, November 7
The US Consumer Credit for September is forecasted at 33.15, the previous reading was at 32.24.
The Industrial Output for September in Germany is expected at -0.8, the previous reading was at -0.8.
On Monday we also have the earnings reports: PLTR TTM BNTX ATVI TTWO LYFT. Analysts expect Lyft, EPS of %0.08 and revenue of $1.06 billion. In 2021 the company reported third-quarter earnings of $0.05 on revenue of $862.68 million.
Tuesday, November 8
In the U.S. the October NFIB small business optimism is expected at 92.1 from 92.1.
In Europe, traders will focus on the Eurozone retail sales for September.
Tuesday’s earnings report: DIS OXY CEG DD AKAM PLUG RCM and AMC
Wednesday, November 9
Here are some of Wednesday’s earnings reports: RIVN RBLX TTD BMBL OLPX BYND. Analysts expect BYND to report a loss of $1.14 on revenue of $98.11 billion. The loss in the third quarter of 2021 for BYND was $0.87 on revenue of $106.43.
Thursday, November 10
On Thursday we have the Initial Jobless Claims and the expectations are for 225,000, the previous reading was at 217,000.
The US CPI for October is the major event in the week ahead. The analyst s estimate is for a 0.6% increase in October’s CPI and a 0.5% increase in the core CPI. The year-over-year headline rate may be 7.9%-8.0%. The core rate, which reached a high of 6.6% in September, could now drop to 6.5%.
Economists now expect the headline CPI at 7.3% at the end of 2022 and fall down to 3% at the end of 2023.
Here are some of Thursday’s earnings reports: AZN NIO TOST RL WIX. Wall Street expect NIO to report a loss of $0.16 on revenue of $1.8 billion.
Friday, November 11
University of Michigan consumer sentiment index will be released on Friday, November 11 and the expectations are for a reading of 60 for November from 59.9. The recent rise in gasoline and market turbulence should drive the index lower.
UK will report on Friday the Q3 GDP. The UK economy contracted in August. The expectations are for -0.2% for the entire quarter. Bank of England (BOE) hiked the interest rate by 75 basis points in the previous week, it forecasts of a 0.5% decline in output in the third quarter. BOE expects inflation at 10.9% in 2022 below the previous forecasts of 13% inflation.
On Friday we have earnings reports from STET DICE VIVO HGEN CRKN
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).
