The week ahead: 16/01/23
The cost of living will dominate the news this week with CPI inflation data due for Germany, the UK, the eurozone, the US and Japan, plus retail sales figures for the US and the UK. We’ve also got the latest UK labour market data, plus earnings from Morgan Stanley, Goldman Sachs, United Airlines, Procter & Gamble, Netflix and Ericsson.
Monday 16 January
Monday is Martin Luther King Jr Day in the US, and several markets have restricted trading hours due to the holiday. (You can see our holiday trading hours here.) Highlights of a quiet schedule are the latest German and eurozone ZEW economic sentiment reports.
Tuesday 17 January
US airline United posts earnings after the market closes on Tuesday, after last month ordering 200 new 787 and 737 planes from Boeing. Updates are also expected from financial services firms Morgan Stanley and Goldman Sachs and UK housebuilder Crest Nicholson. Keep an eye out for UK labour market data including average earnings and claimant count, plus the latest Chinese GDP and industrial production, German CPI and, in the US, the NY Empire State manufacturing index.
Wednesday 18 January
Inflation hits the headlines on Wednesday with CPI data due for the UK, the eurozone and the US. In November UK annual CPI inflation eased to 10.7%, ahead of expectations. Also watch out for US retail sales and industrial production, while in Japan we have industrial production in the small hours and, later in the day, the Bank of Japan’s rate decision and the latest trade balance. More financial services firms report to the market, with figures due from Charles Schwab, PNC, Discover and First Horizon, plus logistics investor Prologis, energy infrastructure firm Kinder Morgan and aluminium producer Alcoa.
Thursday 19 January
On Thursday we’ll get updates from Dow component Procter & Gamble (which last week made Black hair brand Mielle an independent subsidiary of P&G Beauty), TV streamer Netflix, US paints firm PPG, industrial distributor Fastenal, UK food manufacturer Premier Foods and banks Truist, Fifth Third, Northern Trust, Comerica and Synovus. Macroeconomic data includes Australian employment change for December, US building permits and housing starts, the Philadelphia Fed manufacturing index and, late in the day, the Japanese December CPI.
Friday 20 January
At 7am on Friday the UK December retail sales data is published, after last week’s BRC report showed retail sales rising 6.9% in December, driven by rising prices. We’ll also get the latest German PPI and US existing home sales. Earnings come from Swedish telecoms firm Ericsson, oilfield services provider SLB and US banks State Street, Huntington and Region.
Published: 16 January 2023
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