The feature of next week on markets will be corporate earnings – loads in the US and a handful here which signal the local earnings season is soon to get into full swing.
The US season to date has featured higher than average beats in both earnings and revenue, but only from many very low assumptions that most agree were too bearish. We may see a similar pattern here but the reality is without company guidance, a lot of analyst forecasts are by their own admission a bit of a dart throw.
Among local companies reporting next week are Pinnacle Investments ((PNI)), the two Centuria REITS ((CIP)), ((COF)), Mirvac Group ((MGR)), Nick Scali ((NCK)), ResMed ((RMD)), Insurance Australia Group ((IAG)) and REA Group ((REA)).
Economically, Monday is global manufacturing PMI day followed by services PMIs on Wednesday.
In Australia we’ll also see ANZ job ads, trade numbers, although the ABS has already released preliminary data, and private sector credit. The RBA meets on Tuesday.
The Bank of England meets on Thursday.
China will report its July trade balance and the US its June balance, while the US will also see the all-important July jobs numbers, both private sector and non-farm payrolls.
For all local reporting season release dates see the FNArena Calendar (link above) or head straight to FNArena’s Corporate Results Monitor: https://www.fnarena.com/index.php/reporting_season/
