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Weekly Markets Diary

The week ahead…

The major data for the week ahead is US PPI Inflation number on Wednesday and the US CPI on Thursday while the US retail sales on Friday also will be closely watched to see how the US consumer has fared over the past month.

In addition, the US corporate reporting season starts to get into gear with several of the financial heavyweights due to update on Friday.

We have seen a number of high-profile US names drop 10-20 percent in a single day in recent weeks, such as Costco, Target, Ford, and most recently, Nike. This downgraded their expectations as the US consumer increasingly feels the pinch. Can the financial sector turn this trend around?

The Federal Reserve has felt the need to state repeatedly that it remains committed to getting inflation back to the two percent target, after hopes emerged in some corners that they were preparing to pivot. While “stay the course” remains the consensus, the expectation is for the tough market conditions to continue. But there has been a growing sense in recent days that despite the Fed’s verbal interventions the rate hiking cycle may already be nearing an end.

Can these hopes prevail? The PPI and CPI numbers next week, and financial reporting on Friday, will provide more clues.

Trading calendar

Monday 10 October

Major companies reporting:

Unite

Major economic data due:

No Major Data Due

Tuesday 11 October

Major companies reporting:

YouGov

Major economic data due:

07:00 UK September Claimant Count, 6.3k previous

Wednesday 12 October

Major companies reporting:

PepsiCo

Major economic data due:

13:30 US September PPI inflation y/y, 8.7% previous

Thursday 13 October

Major companies reporting:

Blackrock, Domino’s Pizza, Hays, Suedzucker AG, TSMC, Walgreen Boots Alliance

Major economic data due:

07:00 German September CPI final y/y 10% expected, 10% previous

13:30 US September CPI y/y nsa, 8.1% expected, 8.3% previous

13:30 US Weekly Jobless Claims, 193k previous

Friday 14 October

Major companies reporting:

Citigroup, JPMorgan Chase, Morgan Stanley, PNC Financial, US Bancorp, UnitedHealth, Wells Fargo

Major economic data due:

13:30 US September retail sales m/m, 0.2% expected, 0.3% previous

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