In the week of 22 May, investors' attention will be drawn to several important macroeconomic data, including the release of the minutes of the US Fed meeting from early May, GDP growth in the US and Germany, and the US consumption deflator.
Monday
In the afternoon, we will see data on consumer confidence in the Eurozone. Analysts expect a reading... Read more
Futures on major indices in Europe suggest a slightly higher open
Higher than expected Q1 GDP data in Japan
US housing data in focus
Wednesday's session on equity markets in Europe is expected to extend the mixed sentiment from the previous session. The dollar is slightly stronger against the major currencies, supported by positive data from the... Read more
Nicely written. :) While I'm on the subject of housing, it seems to me that the reits are dropping quite a bit. What do you think it is, I know mortgage prices have an effect, but are there other factors?
Today, the European Commission published a new set of economic forecasts for the euro area. The EC has slightly raised its GDP forecasts for 2023 and 2024, while raising inflation expectations in both years. It explained that the upward revision of inflation forecasts is due to persistent upward pressures on core prices.
Shares of travel company Airbnb $ABNB are losing nearly 10% today, despite the company reporting better-than-expected Q1 results. It also presented a relatively cautious outlook for the second quarter of the year. The second quarter has historically been the most successful quarter for its business, along with the third quarter, thanks to a summer season favorable for travel... Read more
The US CPI release is scheduled for 14:30 today. Investors sell risk assets amid market uncertainty
Major markets in Europe and futures contracts in the US are nervous ahead of the April US CPI data released today. Investors are opting to unload high-risk positions. The data is likely to confirm the Fed's monetary policy. Currently, traders are pricing in a 25%... Read more
Shares of Biontech (BNTX.US), the company that co-developed revolutionary mRNA vaccines with Pfizer (PFE.US) during the pandemic, are up 5% as its Q1 report beat Wall Street analysts' estimates. The company beat expectations on both revenue and earnings. Year-over-year, of course, results deteriorated significantly, but not to the extent and at... Read more
Harmonised Index of Consumer Prices YoY: 7.0% versus 6.9% expected and 6.9% previously
Core Harmonised Index of Consumer PricesYoY: 5.6% versus 5.6% expected and 5.7% previously
Eurozone inflation is still high and above the ECB's target. This puts the ECB in a difficult position regarding the tightening cycle. Today's PMI data... Read more
Another drop in $FRC due to speculation of insolvency!
Despite early reports of possible talks to support troubled First Republic Bank $FRC, the latest announcements from CNBC suggest that the bank will most likely file for insolvency.
Awesome, summaries like this are great.