Madrid, April 28 (EFECOM).- The meeting of the US Federal Reserve (Fed) and the keys that its president, Jerome Powell, may give on whether a reduction in short-term interest rates will be possible will mark the stock market agenda for next week, in which on Wednesday, May 1, the markets will not open their doors due to the Labor Day holiday.
In addition to the Fed meeting, the stock markets will pay special interest to the publication of the April preliminary reading of the CPI in Spain, on Monday, to the sentiment indices of the European Commission, the consumer confidence of The Conference Board, the GDP and PMI of the eurozone, as well as the US, and China.
The week in Europe begins on Monday, with the publication of the CPI of Spain and Germany, in addition to business confidence in the euro zone, Spain and Portugal, and an auction of French 3- and 12-month debt will be held.
On Tuesday the 30th, the CPI of the eurozone, France, Italy, and Portugal, the GDP of Spain and the unemployment data in Germany will be published, and a 10-year public debt auction will also be held.
On the May 1 holiday, when European markets will not be trading, the Fed’s new decision on monetary policy will be announced, which will affect stock market prices on May 2.
At the business level, the presentation of results from BBVA, Unicaja, Faes Farma and Prosegur will take place on Monday; on Tuesday, those of Banco Santander, Caixabank, Aena, Redeia and FCC; and on Thursday, ArcelorMittal, among others.
In the US, before the Fed meeting on Wednesday, Monday the 29th will highlight the publication of the Dallas Fed Manufacturing Index, the result of which will show an x-ray of the evolution of the industry in the main world power, and will be held public debt auction at 3 and 6 months.
A day later, the Redbook retail sales index, the housing price index and the Texas service sector forecasts for the month of April will be released.
On Wednesday the 1st, in addition to the news of the week on interest rates in the US, the ISM of employment in the manufacturing sector for April, the JOLTs survey of job offers for March and the oil inventories of the IEA.
As CMC Markets analyst Luis Francisco Ruiz highlighted to EFE, the Fed is expected to maintain interest rates in the range between 5.25% and 5.50%, and he has highlighted the importance of Powell’s appearance at 8:30 p.m., especially after in his last interventions he has been somewhat dissatisfied with the evolution of inflation and has put interest rates under pressure.
The highlights of Thursday in the US will be the Challenger Report on job cuts, unemployment benefit renewals, the March trade balance and the auction of 4-week debt and 8-week bonds weeks.
The week will conclude in the US, with the publication of manufacturing payrolls, the unemployment rate, the April ISM non-manufacturing PMI, and the number of Baker Hughes oil rigs.
In this sense, Ruiz has highlighted that the economy in the US is expected to create some 200,000 jobs, the unemployment rate will remain at 3.8% and labor income will continue to increase.
Regarding the business results that will be published next week in this country, the CMC Markets analyst has highlighted those of
Likewise, Ruiz has mainly highlighted those of Amazon and Eli Lilly, on Tuesday, and those of Apple and Novo Nordisk, on Thursday.
He highlighted the interest aroused by pharmaceutical companies Eli Lilly and Novo Nordisk as they specialize in anti-obesity medications, and whose shares have skyrocketed in recent times.
In the Asia-Pacific Region, macroeconomic references include China’s composite PMI on Tuesday, which will celebrate Labor Day on Thursday and Friday.
In Japan there will be holidays, also on Friday for Labor Day, and on Monday, for Emperor Showa Day.
Meanwhile, data on industrial production, retail sales and housing construction starts for March will be released on Tuesday, and the minutes of the Bank of Japan’s (BoJ) monetary policy meeting from last day will be published on Thursday. 26 in which it was decided to maintain interest rates between 0 and 0.1%. EFECOM
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