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The week ahead: 17/10/22

This week’s UK inflation and retail sales data will provide an update on the cost-of-living crisis, while we’ll also get Japanese, Chinese and US industrial production data, Chinese GDP and eurozone and Japanese CPI. A lively week for earnings includes Bank of America, Charles Schwab, Rio Tinto, Goldman Sachs, BHP, Netflix, Tesla, Procter & Gamble, IBM, Deutsche Börse, Blackstone, AT&T, Verizon and American Express.

Monday 17 October

Japanese industrial production figures were released early on Monday, while in the afternoon in the US we’ll see the latest New York Empire State manufacturing index. Updates are scheduled from financial services firms Bank of America and Charles Schwab, and Anglo-Australian mining group Rio Tinto.

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Tuesday 18 October

Goldman Sachs chart: 14/10/22
   Goldman Sachs chart: 14/10/22 (click to expand image)

Dow component Goldman Sachs leads the earnings on Tuesday, after last week announcing a partnership with Apple to provide savings accounts for Apple Card holders. Figures are also due from mining group BHP, TV streamer Netflix, US airline United, robotic products manufacturer Intuitive Surgical and US banks Truist and State Street. Macroeconomic data includes the latest Chinese GDP and industrial production, German and eurozone ZEW economic sentiment reports and US industrial production for September.

Wednesday 19 October

UK inflation remains in the headlines as September CPI figures are published on Wednesday. Prices rose by 0.5% in August, the annual inflation rate standing at 9.9%. We’ll also have CPI data for the eurozone plus, in the US, the latest building permits, housing starts and the Fed’s beige book of economic conditions. Keep an eye out for earnings from electric vehicle manufacturer Tesla, Dow components Procter & Gamble and IBM, medical device maker Abbott, telecoms infrastructure provider Crown Castle, DAX component Deutsche Börse and aluminium producer Alcoa plus a production report from mining firm Antofagasta.

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Thursday 20 October

Private equity group Blackstone, reportedly in talks to purchase assets from Emerson Electric, posts quarterly earnings on Thursday. Telecoms multinational AT&T also reports to the market, along with US carrier American Airlines, Swedish telecoms firm Ericsson, US railroad Union Pacific, professional services firm Marsh McLennan, electrical equipment manufacturer ABB, healthcare provider Tenet, UK data analytics firm Relx and home furnishings retail group Dunelm. Also look out for Australian employment change and, in the US, the latest trade balance, Philadelphia Fed manufacturing index and existing home sales.

Go long or short of UK, US and German equities.

Friday 21 October

Two Dow components, US telecoms firm Verizon and payment card multinational American Express, report on Friday. We’ll also get updates from oilfield services firm Schlumberger, financial services company Regions and South African energy and chemical firm Sasol. The macroeconomic picture includes Japanese CPI data and UK retail sales for September. Fears for the UK high street are growing as retail sales fell by 1.6% in August, worse than forecast.

Published: 17 October 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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