The best thing about next week? The end of October. But as I write, this morning’s initial attempt at a rebound appears to have been slapped on the head. Let’s hope November brings something better.
The US earnings season will continue to roll on next week but the US economy, and thus Fed policy, will come sharply into focus as well. Tonight sees the first estimate of September quarter GDP, while next week brings numbers for PCE inflation, manufacturing PMI and jobs, all of which could lead to policy anxiety.
Other data releases next week include consumer confidence, productivity, factory orders and increasingly scrutinised trade numbers.
The eurozone will release its first estimate on September quarter GDP on Tuesday.
In Australia the focus will also be on inflation with the release of September quarter CPI and PPI data. Not that they’re likely to get the RBA out of bed.
Other data include building approvals, private sector credit, job ads, trade and retail sales, so it’s a big week.
The change of month means manufacturing PMIs from across the globe next week, China releasing its services PMI concurrently.
This week was the biggest in the local AGM/quarterly report season locally but the pace only eases off slightly next week. There’ll still be plenty of AGMs, resource sector production reports and quarterly updates from elsewhere.
The highlights, nonetheless, will be full-year earnings releases from ANZ Bank ((ANZ)) on Wednesday and National Bank ((NAB)) on Thursday, followed by Macquarie Group ((MQG)) on Friday.
Orica ((ORI)) will also report its full-year and Janus Henderson ((JHG)) its quarterly, while Woolworths ((WOW)) provides quarterly sales numbers.
