Search
EN Down
Language
Hi, user_no_name
Live Chat

It’s set to be a volatile week for US markets as earnings season continues on Wall Street with Big Tech reporting. Apple, Amazon, Microsoft, Alphabet and Facebook are among the biggest names delivering their quarterly updates. Meanwhile central banks are in action aplenty with the Bank of Japan, Bank of Canada and European Central Bank all holding policy meetings. And we of course countdown to November’s US presidential election with all eyes on the Vix. 

Big Tech Earnings 

It’s a massive week for corporate earnings and the focus will undoubtedly fall on  the FAANGs with Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL) and Facebook (FB) all set to report quarterly earnings figures on Thursday. Earnings come amid scrutiny on big tech as the US Department of Justice opened an antitrust case against Google’s parent company, Alphabet, which focuses on agreements it has made with handset manufacturers and carriers to be the default search engine on new phones. Whilst investors have shrugged this off so far, earnings may well provide fuel for greater volatility in the stock. 

Meanwhile there are fears that the case could create headwinds for Apple’s services business. The DOJ said Apple earns between $8 billion and $12 billion from Google, which would equate to between 17% and 26% of Apple’s revenues from Services last year. Apple recently released its iPhone12 but increasingly the reason for the stock’s higher multiples is about the ecosystem and Services revenues. Nevertheless, analysts remain bullish on these tech giants and they remain among the biggest winners YTD. Microsoft reports on Tuesday and there are dozens of large cap stocks reporting over the next few days. 

ECB  

With the euro gaining ground again versus the US dollar, attention in the FX markets will be on the European Central Bank (ECB) meeting on Thursday. Markets are increasingly betting on the ECB carrying out further easing in a bid to boost faltering economic growth and stagnant prices. The Eurozone slid into its second straight month of deflation in September and with further lockdowns being imposed across the bloc, the risks to the economic outlook have clearly deteriorated since the last meeting. The threat of a double dip recession is real, with Christine Lagarde saying recently that the resurgence of the virus is a clear risk to the economy. Given the murky outlook and dreadful inflation backdrop it seems all but certain the ECB will increase its bond buying programme by another €500bn by December. 

To get a flavour of the mood in the ECB, the usually hawkish Austrian central bank head Robert Holzmann, said recently: “More durable, extensive or strict containment measures will likely require more monetary and fiscal accommodation in the short run.” 

Meanwhile there are also meetings of the Bank of Japan and Bank of Canada taking place this week. 

Economic Data 

The advanced reading for US GDP growth in the third quarter will be the highlight as markets look for clues to the pace and sustainability of the recovery.  The economy is expected growth in the region of 30% as businesses reopened following lockdowns. The Atlanta Fed’s forecast indicates the economy will have expanded by 35% on a quarterly basis – but this of course masks the real damage when it’s coming off the back of a 31% drop in Q2. The GDP reading comes at an opportune moment for Donald Trump who will be able to proclaim that the economy is on fire. 

Election Watch 

The final straight: polling data may not change much – the number of undecided voters has been small. Biden commands a strong national lead but in the key battlegrounds that will determine the result it’s tighter. We’re hosting a special pre-election live event on Nov 2nd to run through how the markets might react.  

Top Economic Data This Week

Open the economic calendar in the platform for a full list of events.

Date Event 
Oct 26th German Ifo business climate 
Oct 26th UK Nationwide house price index 
Oct 26th US new home sales  
Oct 26th SNB Chairman Jordan speaks 
Oct 27th BoJ core CPI 
Oct 27th US durable goods, core durable goods 
Oct 27th US CB consumer confidence 
Oct 28th Australia CPI inflation 
Oct 28th Bank of Canada rate decision 
Oct 28th EIA crude oil inventories 
Oct 28th FOMC member Kaplan speaks 
Oct 29th Bank of Japan policy statement & economic outlook 
Oct 29th German preliminary CPI inflation 
Oct 29th UK mortgage approvals & lending figures 
Oct 29th US advanced GDP – Q3 
Oct 29th US weekly jobless claims 
Oct 29th ECB policy decision & press conference 
Oct 29th US pending home sales 
Oct 29th US natural gas storage 
Oct 30th Tokyo core CPI 
Oct 30th Japan industrial production 
Oct 30th French flash GDP 
Oct 30th German preliminary GDP 
Oct 30th Eurozone CPI flash estimates 
Oct 30th Canada GDP 
Oct 30th US personal spending & core PCE price index 
Oct 30th Chicago PMI 
Oct 30th UoM consumer sentiment 

 

Top Earnings Reports This Week

Don’t forget to tune into our Daily Earnings Season Specials on XRay for more updates

Date Company Event 
26-Oct SAP SE Q3 2020 Earnings 
27-Oct Microsoft Corp. Q1 2021 Earnings 
27-Oct Pfizer Inc. Q3 2020 Earnings 
27-Oct Ping An Insurance Co. Q3 2020 Earnings 
27-Oct Merck Co. Q3 2020 Earnings 
27-Oct Novartis AG Q3 2020 Earnings 
27-Oct Eli Lilly and Co. Q3 2020 Earnings 
27-Oct 3M Co. Q3 2020 Earnings 
27-Oct AMD (Advanced Micro Devices) Inc. Q3 2020 Earnings 
27-Oct Caterpillar Inc. Q3 2020 Earnings 
27-Oct HSBC Holdings plc Q3 2020 Earnings 
27-Oct S&P Global Inc Q3 2020 Earnings 
27-Oct BP plc  Q3 2020 Earnings 
28-Oct Visa Inc. Q4 2020 Earnings 
28-Oct MasterCard Inc. Q3 2020 Earnings 
28-Oct United Parcel Service Inc. (UPS) Q3 2020 Earnings 
28-Oct Amgen Inc. Q3 2020 Earnings 
28-Oct ServiceNow Inc Q3 2020 Earnings 
28-Oct Boeing Co. Q3 2020 Earnings 
28-Oct Sony Corp. Q2 2020 Earnings 
28-Oct GlaxoSmithKline plc (GSK) Q3 2020 Earnings 
28-Oct Gilead Sciences Inc. Q3 2020 Earnings 
28-Oct Anthem Inc. Q3 2020 Earnings 
28-Oct Equinix Inc Q3 2020 Earnings 
29-Oct Apple Inc. Q4 2020 Earnings 
29-Oct Amazon Q3 2020 Earnings 
29-Oct Alphabet Q3 2020 Earnings 
29-Oct Facebook Inc. Q3 2020 Earnings 
29-Oct Samsung Q3 2020 Earnings 
29-Oct China Life Insurance Co Ltd (A) Q3 2020 Earnings 
29-Oct Comcast Corp. (Class A) Q3 2020 Earnings 
29-Oct Shopify Inc (A) Q3 2020 Earnings 
29-Oct Sanofi S.A. Q3 2020 Earnings 
29-Oct AB InBev SA-NV (Anheuser-Busch InBev) Q3 2020 Earnings 
29-Oct American Tower Corp. Q3 2020 Earnings 
29-Oct Starbucks Corp. Q4 2020 Earnings 
29-Oct Shell (Royal Dutch Shell) Q3 2020 Earnings 
29-Oct Volkswagen (VW) St. Q3 2020 Earnings 
29-Oct Stryker Corp. Q3 2020 Earnings 
29-Oct China Petroleum & Chemical (Sinopec) (A) Q3 2020 Earnings 
29-Oct China Life Insurance Co. Ltd. Q3 2020 Earnings 
30-Oct China Construction Bank Corp. Q3 2020 Earnings 
30-Oct AbbVie Inc Q3 2020 Earnings 
30-Oct ExxonMobil Corp. (Exxon Mobil) Q3 2020 Earnings 
30-Oct Chevron Corp. Q3 2020 Earnings 
30-Oct Honeywell Q3 2020 Earnings 
30-Oct PetroChina Co Ltd (A) Q3 2020 Earnings 
30-Oct Postal Savings Bank of China Registered Shs -A- Q3 2020 Earnings 
30-Oct TOTAL S.A. Q3 2020 Earnings 
30-Oct AUDI AG Q3 2020 Earnings 
30-Oct Altria Inc. Q3 2020 Earnings 
30-Oct Colgate-Palmolive Co. Q3 2020 Earnings 
31-Oct Berkshire Hathaway Inc. Q3 2020 Earnings 
31-Oct Industrial and Commercial Bank of China Ltd (A) Q3 2020 Earnings 
31-Oct Industrial & Commercial Bank of China Ltd. Q3 2020 Earnings 
31-Oct China Merchants Bank Co Ltd. Q3 2020 Earnings 
31-Oct Bank of China Ltd Q3 2020 Earnings 

 

Latest news

Tesla shares poised for 6th straight loss as Cybertruck recalls begin

Friday, 19 April 2024

Indices

Tesla shares drop again as Cybertruck recalls begin

Citi issues new gold price forecast, sees yellow metal at $3000 by year-end

Friday, 19 April 2024

Indices

Citi updates gold price forecast to $3,000 by year-end

Magnificent Seven earnings take centre stage in the markets this week

Friday, 19 April 2024

Indices

Week ahead: Wall Street’s Magnificent Seven earnings are up

Oil and gold prices rallied as Israel launched a retaliatory strike on Iran

Thursday, 18 April 2024

Indices

Oil, gold price rallies on Iran blasts as Israel retaliates

Live Chat