(ABM FN) After a volatile past week on the stock market, next week promises to be quieter in terms of volumes. US and Japanese investors face a shortened trading week as several major central banks release their minutes.
On Monday we will already receive some data on consumer confidence, namely from the Netherlands, Belgium and also the entire eurozone. US consumer confidence will follow on Wednesday, Germany and France will follow on Thursday and Friday, respectively. In addition, we will find out about business confidence in these two major European countries on Wednesday, and that in our own country on Thursday.
On Tuesday, the Japanese stock market remains closed while Germany puts its economic growth for the third quarter online. This is a definitive figure, the next day a second estimate for American growth will follow.
A series of composite purchasing managers’ indices await investors on Tuesday. These leading indicators, compiled from surveys of corporate executives, are published for many European countries, the entire Eurozone, the United Kingdom and the United States. Japan will follow a day later when the financial markets there are also open again.
That Wednesday is also the last full trading day on Wall Street. The markets will remain closed on Thursday due to Thanskgiving, Friday the Americans will go shopping on Black Friday, the markets will close a little earlier.
That Wednesday will be important, not only because of the growth figure but also because the Federal Reserve will put the minutes of the last interest rate meeting online. Due to the high inflation, the Fed is increasingly thinking of phasing out the stimulus. As of this month, the buyback program is already being reduced and more policymakers are hinting at interest rate hikes in 2022. On Wednesday, America will also announce weekly aid applications and personal income and spending are on the agenda. PCE inflation is also announced, an important inflation indicator for the Fed.
Another important question that may be answered next week; who will be the next Fed chairman, or will Jerome Powell stay on?
Powell’s term ends in February. He may be reappointed by US President Joe Biden, but it could also be that board member Lael Brainard will be his successor.
“Many expect an even more dovish Fed if Lael Brainard is appointed head of the central bank, meaning it would take longer to raise interest rates than under Jerome Powell,” said Lynx investment specialist Justin Blekemolen.
In the meantime, the European Central Bank continues to press the accelerator of monetary stimulus fully for the time being. The ECB will publish its minutes from its last policy meeting on Thursday.
Company calendar
The earnings season is almost over. In our own country, however, we still have a few latecomers. Retail Estates will open its books on Monday, Ackermans & van Haaren will follow on Tuesday, as will portfolio company CFE.
Payton Planar is scheduled for Wednesday, Ascencio for Thursday and Elia closes the week on Friday. Euronav will trade ex-dividend on Monday.
On Monday we will receive figures from Prosus and Zoom Video Communications abroad. Best Buy and HP Inc are scheduled for Tuesday, with Deere & Co following Wednesday.
Bron: ABM Financial News
From Beursplein 5, the editors of ABM Financial News keep a close eye on developments on the stock exchanges, and the Amsterdam stock exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make certain investments.
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