30 Apr

Key Macro Events This Week


Important week

The first week of any month sets the tone for financial markets (VOO). However, this week is very important. There are many economic data points for investors to watch. US markets (IJH) will be tracking ongoing corporate earnings. US markets could be influenced by multiple economic reports scheduled this week. Reports on personal spending, personal income, core personal consumption expenditure, the manufacturing (XLI) and non-manufacturing PMI, non-farm payrolls, the unemployment rate, and average hourly earnings are all scheduled to be reported this week. Below is a list of the important economic reports scheduled this week.

Key Macro Events This Week

Payrolls will likely bounce back in April

The stakes are high for the April jobs report, which is scheduled to be reported on Friday, especially after the disappointing payrolls report in March. The April report could prove that the job growth decline in March was only transitory after a stellar addition of 320,000 jobs in February. Wage growth is expected to increase 0.3% month-over-month in April. The year-over-year growth could increase by one percentage point to 2.8%. The FOMC’s meeting is scheduled on Tuesday and Wednesday. The Fed isn’t expected to make any changes to the policy. However, an upbeat take on inflation (TIP) growth and a strong employment market could have a major impact on US bond (AGG) markets on Wednesday.

Setting the tone for markets

This week will likely set the tone for the rest of May. The expectations for corporate performance, inflation (VTIP), job growth, and the Fed’s policy will likely be formed based on the data and earnings reports published this week. Overall, this week could be positive for markets if the earnings are positive and the risks retreat.

Latest articles

Goldman Sachs (GS) settled a lawsuit that alleged it rigged bond prices. Also, Deutsche Bank agreed to pay a fine of $15 million to settle a lawsuit.

In the November 15 premarket trading session, Amarin Corporation (AMRN) stock rose more than 7%, caused by the FDA positive decision for Vascepa.

In the November 14 trading session, Aurora Cannabis (ACB) stock fell 12.7% from the previous session during after-hours trading.

Strategy Analytics reported that Apple could lead the 5G smartphone market in 2020, outshining Samsung—the current leader in the global 5G market.

This week has been tough for the cannabis sector. Cronos Group and Canopy Growth reported lower-than-expected earnings, and the sector ETFs dropped.

Yesterday, Argus Research upgraded Uber stock from “hold” to “buy.” Let's look at Uber and Lyft’s recent analyst rating changes.