Weekly Markets Diary - 14 October

Looking to the week ahead

The US corporate reporting season continues to accelerate this week, with American Express, Goldman Sachs, Tesla and Netflix among the heavyweights due to update.

Can corporate America withstand the tougher economic conditions, or will some shocks continue to emerge?

The Federal Reserve continues its near daily verbal interventions, stating it has more work to do to combat inflation, defeating hopes it could be preparing a pivot. The Bank of England attempted its own verbal intervention on Wednesday by saying the temporary emergency purchases were just that, temporary, and would end on Friday 14. Although some doubts remain if they too will need to pivot if liquidity issues resurface.

The overall tone in the markets remains nervous, ready for a medium-term recovery, but having to fight through the negative headwinds of a stalling global economy and ongoing Fed pressure.

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Trading calendar

Monday 17 October

Major companies reporting:

Bank of America, Bank of New York Mellon, Charles Schwab

Major economic data due:

No major data due

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Tuesday 18 October

Major companies reporting:

Hasbro, Lockheed Martin, Johnson & Johnson, State Street, Netflix

Major economic data due:

No major data due

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Wednesday 19 October

Major companies reporting:

Alcoa, ASOS, Deutsch Boerse, IBM, Provident Financial, Comerica, Procter & Gamble, Tesla

Major economic data due:

13:30 US September Housing Starts m/m, 1.5m expected, 1.57m previous

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Thursday 20 October

Major companies reporting:

AT&T, Blackstone, Bunzl, Travis Perkins, Nokia, Dow Inc, Philip Morris, Snap

Major economic data due:

13:30 US Weekly Jobless Claims

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Friday 21 October

Major companies reporting:

London Stock Exchange, American Express, Verizon, Interpublic,

Major economic data due:

07:00 UK September Retail Sales y/y, -5.4% previous