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The week ahead: 31/10/22

The week is dominated by key interest rate decisions in the US and the UK and Friday’s US nonfarm payrolls, while we’ll also see a slew of manufacturing and services PMI data throughout the week. Notable earnings include BP, Pfizer, Eli Lilly, AMD, Phillips 66, Marathon Petroleum, Mondelez, AIG, CVS Health, Humana, GSK, MetLife, Marathon Oil, ConocoPhillips, BT, Sainsbury’s, Duke and Dominion.

Monday 31 October

October draws to a close with retail sales data for Japan, Australia and Germany, plus Japanese industrial production, China’s NBS manufacturing and non-manufacturing PMI, the latest eurozone CPI and, in the US, the Chicago PMI. Monday’s earnings include Dutch semiconductor manufacturer NXP, US computer networking company Arista and car rental group Avis.

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Tuesday 1 November

BP chart: 28/11/22
   BP chart: 28/11/22 (click to expand image)

Oil and gas supermajor BP reports to the market on Tuesday, after rival Shell last week revealed it will pay no windfall tax in the UK this year. Figures are also due from pharma firms Pfizer and Eli Lilly, semiconductor producer AMD, petrol refiners Phillips 66 and Marathon Petroleum, US food brand owner Mondelez, power management conglomerate Eaton, pharma distributor McKesson, US hydrocarbon explorer Devon, financial services group AIG, food service supplier Sysco, retail property group Simon and video game firm Electronic Arts. Look out for Japanese, Chinese, UK and US manufacturing PMI data, the RBA’s decision on Australian interest rates and the US JOLTs labour market report.

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Wednesday 2 November

More manufacturing PMI data is due on Wednesday for France, Germany and the eurozone, while the macroeconomic highlight is the Fed’s decision on US interest rates. In September the FOMC raised the target range for the federal funds rate to 3.00-3.25% and indicated further hikes would be necessary. A busy earnings schedule includes telecoms equipment firm Qualcomm, US healthcare company CVS Heath, cosmetics multinational Estée Lauder, travel tech company Booking, US health insurance provider Humana, UK pharma firm GSK, financial services group MetLife, data centre operator Equinix and US hydrocarbon explorer Marathon Oil.

Thursday 3 November

The Bank of England announces its monetary policy decision at midday (UK time) on Thursday, although the chancellor’s decision to push back his autumn statement to 17 November leaves questions over the UK government’s public spending plans. We’ll also see the latest Australian trade balance and Chinese, UK and US services PMI data. Figures are expected from US hydrocarbon explorer ConocoPhillips, biotech firms Amgen and Regeneron, coffeehouse chain Starbucks, health insurance provider Cigna, UK telecoms group BT, aircraft engine manufacturer Rolls-Royce, UK supermarket Sainsbury’s and German fashion house Hugo Boss.

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Friday 4 November

Friday’s highlight is the US nonfarm payrolls figure, expected at 12.30pm (UK time). In September the US economy added 263,000 jobs, slightly ahead of expectations. Before that we’ll see services PMI data for Japan, France, Germany and the eurozone, German factory orders and UK construction PMI. US energy suppliers Duke and Dominion provide updates, along with confectionery company Hershey, Spanish telecoms firm Telefónica, German food producer GEA, European media conglomerate RTL and German telecoms group Freenet.

Published: 31 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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