2023-04-16 13:50:03
This week’s key international financial events include: Tesla, Netflix, IBM, Esmore and other heavy technology stocks earnings reports, the Federal Reserve (Fed) Beige Book and US housing market data, investors will also focus on the opinions of many Fed officials perception of the economic outlook. In addition to the purchasing managers’ index (PMI) of major economies, China will also release economic data including first-quarter gross domestic product (GDP).
This week’s trading notes (0417-0421)
Bank stock earnings continue to come out, Tesla, Netflix kick off tech earnings season
Following JP Morgan (JPM-US), Citigroup (C-US) and Wells Fargo (WFC-US) After last week’s announcement of better-than-expected performance, investors continued to pay attention to the financial reports of large banks such as Morgan Stanley, Bank of America, and Goldman Sachs that debuted this week. M&T Bank (MTB-US)、KeyCorp(KEY-US)、Truist Financial Corp(TFC-US) and Republic First Bancorp (FRBK-US) and other regional bank financial reports have also attracted much attention.
Electric vehicle leader Tesla (TSLA-US)、Netflix(NFLX-US)、IBM(IBM-US) and other heavyweight technology stocks are also a major focus of attention this week, TSMC (TSM-US)(2330-TW), Asmol (ASML-US) and Colin R&D (LRCX-US) and other chip manufacturers will also announce their latest results.
Other companies also reporting earnings this week include Bank of New York Mellon (BK-US), Blackstone Group (BX-US), Schwab (SCHW-US), Traveler Group (TRV-US), American Express (AXP-US)、AT&T(T-US), United Airlines (UAL-US), Johnson (JNJ-US) and Procter & Gamble (PG-US) wait.
After upbeat results from banks including JPMorgan Chase & Co.S&P 500 IndexEarnings expectations for constituent companies improved slightly from a week ago. Refinitiv data released on Friday (14th) showed that analysts now expect a 4.8% annual decline in Q1 total corporate earnings, slightly less than the 5.2% decline given the previous week.
Fed Beige Book, several Fed officials speak
In the early hours of Thursday (20th) Taiwan time, the Federal Reserve will release the Economic Beige Book, pointing out the opinions of professionals such as enterprises, economists and financial industry professionals in various regions on the current economic situation.
Meanwhile, a number of Fed officials will speak this week, including New York Fed President John Williams, Fed Governor Christopher Waller, Chicago Fed President Austan Goolsbee Goolsbee and Philadelphia Fed President Patrick Harker, all four officials who will vote on monetary policy this year, were also speaking this week from the Cleveland, Atlanta and Richmond Fed presidents. .
Minutes of the March meeting released last week showed officials expected the U.S. economy to slip into a mild recession later this year following assessing the potential fallout from the banking crisis.
China’s Q1 GDP and other economic data
China is regarding to announce the first quarter GDP data on Tuesday (18th). With the unblocking of the epidemic, the Chinese economy is expected to usher in a major recovery. The market estimates that the annual growth rate of Q1 GDP will accelerate from 2.9% to 4%, including urban fixed Assets, total retail sales of consumer goods, and industrial added value above designated size are all expected to improve.
In addition, China’s latest LPR (Loan Quoted Rate) is expected to be announced on Thursday (20th), and the market expects it to remain unchanged.
PMI of major economies
Large major economies including the United States will release manufacturing/service PMI and other data, Germany,EURRegional manufacturing PMI is expected to rise slightly, US manufacturing PMI is expected to be flat, but service PMI is expected to decline slightly. The United States announced last week that retail sales fell for two straight months in March, suggesting that consumer spending is cooling amid high inflation and rising borrowing costs.
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