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The week ahead: 09/01/23

UK consumer activity will be in the spotlight this week with figures from Sainsbury’s, Tesco and Marks & Spencer, plus the BRC’s UK retail sales monitor. We’ll also have earnings from TSMC, Südzucker, UnitedHealth, Delta and banking heavyweights JPMorgan Chase, Bank of America, Wells Fargo, BlackRock, Bank of New York Mellon and Citigroup. Look out too for CPI updates for Tokyo and the US.

Monday 9 January

Early on Monday in Australia the latest building approvals were released, while this morning we’ll also see German industrial production and the eurozone unemployment rate for November. Late in the evening Japanese household spending is published, along with Tokyo CPI for December, as the inflation rate is predicted to hit a new 40-year high. Earnings come from investment services group Jefferies and pharma firm Tilray.

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Tuesday 10 January

One highlight of a quiet Tuesday is the British Retail Consortium’s UK retail sales monitor for December. Last time out total retail sales grew by 4.2% year-on-year, with online sales down 0.4%. Tuesday’s reading will give us an indication of consumer activity in the crucial Christmas period.

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Wednesday 11 January

UK supermarket Sainsbury’s releases its third-quarter trading statement on Wednesday. The retailer last week announced a rise in its pay rate for shop-floor staff to £11 per hour, after bringing forward its annual pay review in response to the cost-of-living crisis. US housebuilder KB Home also reports to the market, and we’ll see the latest Australian retail sales and Japanese current account.

Thursday 12 January

Tesco chart: 06/01/23
   Tesco chart: 06/01/23 (click to expand image)

Two more major UK retailers, Tesco and Marks & Spencer, provide trading updates on Thursday. Also look out for earnings from the world’s largest chipmaker TSMC, after it last week announced major investment in new production facilities in Taiwan, and German sugar producer Südzucker. Data releases include the Australian trade balance for November and, in the US, the December CPI and federal budget balance.

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Friday 13 January

Friday is dominated by banking earnings, with figures due from JPMorgan Chase, Bank of America, Wells Fargo, BlackRock, Bank of New York Mellon and Citigroup. Keep an eye out too for updates from healthcare group UnitedHealth and US airline Delta. We’ll also get the latest UK manufacturing and industrial production and trade balance, the eurozone industrial production and trade balance, the US import and export price indices and the University of Michigan consumer sentiment index.

Take your own view on UK, US and European equities.

Published: 9 January 2023

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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