The week ahead: 11/10/21
All eyes on the financial services industry this week, as earnings come from JPMorgan Chase, BlackRock, Bank of America, Wells Fargo, Morgan Stanley and Goldman Sachs. Meanwhile the UK labour market takes the spotlight on Tuesday with key data released.
Monday 11 October
It’s a quiet start to the week with little notable earnings or economic data. We will however see the US Conference Board’s employment trends index at 3pm UK time. This composite of eight different indicators of the US labour market increased for the sixth consecutive month in August, albeit with a slower rate of growth.
Tuesday 12 October
On Tuesday we’ll get the UK BRC retail sales monitor, the National Australia Bank business confidence index, and the ZEW survey of German economic sentiment. The labour market is in focus on both sides of the Atlantic with the UK employment and earnings reports and the US JOLTS survey. UK unemployment stood at 4.6% in July, with vacancies reported across many sectors. Companies reporting to the market include industrial distributor Fastenal.
Wednesday 13 October
Dow component JPMorgan Chase leads the earnings on Wednesday, having recently launched its digital retail venture, Chase, in the UK. Also expect quarterly figures from investment manager BlackRock and US airline Delta. Among the macroeconomic releases, look out for the Chinese and UK trade balance figures, eurozone and UK industrial production, and German and US CPI data.
Thursday 14 October
The banking sector dominates the earnings, with results from Bank of America, Wells Fargo, Morgan Stanley, Citigroup and US Bancorp. Also look out for figures from retail pharmacy group Walgreen Boots, pizza chain Dominos (juggling supply-chain constraints with pandemic-inspired demand), aluminium producer Alcoa, US healthcare group UnitedHealth and mining firm Rio Tinto. Notable economic data around the globe includes the RICS house price balance for the UK, Australian employment figures, Chinese CPI, Japanese industrial production and US PPI.
Friday 15 October
We round off the week with earnings from investment bank Goldman Sachs, real estate investment trust Prologis, banking groups PNC and Truist, and asset manager Jupiter. Keep an eye out, too, for the latest French CPI and eurozone trade balance, while in the US we’ll see August business and retail inventories, September retail sales and the import/export price indices, the Empire State survey of manufacturing conditions in New York, and the University of Michigan consumer sentiment survey.
Published: 11 October 2021
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