Breaking News
Investing Pro 0
🚨 Our Pro Data Reveals the True Winner of Earnings Season Access Data

Economic Calendar - Top 5 Things to Watch This Week

Economy Nov 03, 2019 05:59AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
US500
+1.46%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DIS
+0.84%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
QCOM
+1.20%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AAPL
+0.90%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
OXY
+1.03%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CVS
+1.34%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - This week investors will get the chance to hear from Federal Reserve officials after the central bank indicated last week that further policy easing may not be on the cards after its third rate cut this year. Newly minted European Central Bank President Christine Lagarde is to speak on Monday and the Bank of England will release its newly renamed Monetary Policy Report on Thursday. Trade developments and earnings will also remain in the spotlight.

Here’s what you need to know to start your week.

  1. Fedspeak and U.S. data

A host of Fed policymakers will have the chance to discuss their take on the monetary policy outlook this week, including New York Fed President John Williams, Philadelphia Fed chief Patrick Harker, Chicago Fed head Charles Evans and Dallas’s Robert Kaplan.

Markets now expect interest rates to remain on hold until at least April, according to Investing.com’s Fed Rate Monitor Tool following last week’s cut, the third in as many meeting. The move was accompanied with new language indicating that the current "mid-cycle" round of rate cuts was at an end.

It’s a light week on the U.S. economic calendar, but investors will get an update on factory orders on Monday, with economists expecting a decline of 0.5% MoM. Meanwhile, Thursday’s trade data will be scrutinized for signs of fallout from the Sino-U.S. trade war.

  1. New ECB boss Lagarde to set out vision

The ECB’s new President, Christine Lagarde is expected to outline her vision for the Eurozone economy and monetary policy in a speech in Berlin on Monday. Lagarde, who assumed her role on Nov. 1, has already echoed her predecessor Mario Draghi by criticizing Germany and the Netherlands for not investing their budget surpluses to support growth.

Lagarde will get an update on the health of the bloc’s economy on Wednesday and Thursday when Germany releases data on factory orders and industrial production, amid fears that the euro area’s largest economy is slipping into a recession.

The European Commission is also set to publish its economic forecasts for the region on Thursday.

  1. Brexit, election and the BOE

The Bank of England will be launching its rebranded Inflation Report as the Monetary Policy Report on Thursday. The new report will focus on forecasts and ad-hoc analysis rather than merely reviewing the previous quarter.

Interest rates are expected to remain on hold at 0.75% given the Dec. 12 snap election and a new Jan. 31 Brexit deadline.

But the BOE has been edging away from long-term guidance that rates are on an upward path, noting in September that this hinged on Brexit and the global economy picking up. Policymaker Michael Saunders has said since then the BOE cannot wait indefinitely for Brexit uncertainty to lift, and that economic slowdown strengthens the case for easing policy.

Some policymakers doubt a rate cut would do much good. Deputy Governor Dave Ramsden fears the slowdown is damaging the economy's productive capacity so lower interest rates are more likely to boost inflation than lift growth.

  1. Earnings

It's a close call but for the S&P 500, the third 2019 quarter could bring the first quarterly year-over-year earnings decline since 2016.

Despite earnings beats from tech heavyweights Apple (NASDAQ:AAPL) and Facebook (NASDAQ:FB), earnings are expected to have declined 0.8%, according to IBES Refinitiv. That's better than earlier forecasts - a month ago, a 2.2% decline was predicted.

Q1 and Q2 estimates also started negative yet ended positive. So upcoming reports by names such Occidental Petroleum (NYSE:OXY), CVS Health (NYSE:CVS), Qualcomm (NASDAQ:QCOM) and Walt Disney (NYSE:DIS) may well move the needle across the line.

No such hope for Europe. The STOXX index is seeing the worst quarterly earnings in more than three years, according to Refinitiv. It expects Q3 earnings to drop 8.4%, the biggest quarterly fall since mid-2016.

Also, of European companies to report so far, 59.3% exceeded analyst estimates. The U.S. figure is 75%.

  1. Trade developments

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin made progress on a variety of issues during a telephone call on Friday with China’s Vice Premier Liu He about an interim trade agreement, USTR said in a statement on Friday.

Meanwhile, U.S. President Donald Trump on Friday suggested he could sign a long-awaited trade agreement in Iowa.

Trump said on Friday evening that negotiations about a "phase one" agreement were going well and he hoped to sign the deal with Chinese President Xi Jinping at a U.S. location when work on the agreement was completed.

Trump and Xi had been expected to ink the agreement at the Asia Pacific Economic Cooperation summit in Santiago, Chile from Nov. 16-17, but those plans were thrown into disarray on Wednesday when Chile withdrew as host of the meeting.

It was not immediately clear whether China would agree to sign the trade deal in the U.S.

--Reuters contributed to this report

Economic Calendar - Top 5 Things to Watch This Week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.
  • Any comment you publish, together with your investing.com profile, will be public on investing.com and may be indexed and available through third party search engines, such as Google.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
Muhammad Irfan Riaz
Muhammad Irfan Riaz Nov 04, 2019 5:51AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
why crude oil going upward
Bade Sahib
Bade Sahib Nov 03, 2019 9:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
trade dealis meaningless
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email