Next Week At A Glance

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/

Greg Peel

About Greg Peel

Greg Peel joined Macquarie Bank in 1986 and acquired trading experience in equities, currency, fixed income and commodities derivatives, ultimately being appointed director of equity derivatives trading. He later published In With The Smart Money (a plain English guide to the mysterious world of financial markets and derivatives) and acted as a consultant to boutique investment funds. In 2004 Greg joined FNArena as a contributing writer. He is now a director and principal of the company. Greg compliments the journalistic background of the FNArena team with lengthy experience as a financial markets proprietary trader.

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