View the top 7 stories to look out for this week (9-13 January) plus our key company earnings schedule.
Grab 2017's first full trading week by the horns
Michael Hewson looks ahead at the latest data from China and the US, as well as the start of US earnings season.
The week ahead
What will China's December inflation & trade data reveal?
Tuesday (CPI) & Friday (trade): Chinese inflation numbers showed a sharp rise in factory gate prices in November to 3.3% – a six-year high. We could see a trickle-down effect as a weaker yuan pushes input costs up. The weaker currency could also boost Chinese exports, which have been recovering in recent months.
Will Tullow Oil's Q4 sales add a sheen to its share price?
Wednesday: Tullow Oil was one of the casualties of the slide in oil prices over the last few years, but has also been at the forefront of the recovery since January 2016. While its share price recovered substantially following the recent OPEC deal, its exposure to Africa makes it vulnerable to geopolitics.
Can Tesco bag impressive Q3 sales?
Thursday: The Christmas trading period is an important time for retailers and can be a bellwether for the following year. After its recent positive performance, Tesco CEO Dave Lewis will be looking for encouraging numbers at a time when consumers remain happy to spend money.
Will M&S reclaim its clothing crown?
Thursday: Next has consistently outperformed M&S in recent years, but released a poor trading update last week. Will M&S steal its crown back as the UK consumer’s preferred clothing retailer? M&S’s food offering may well boost Q3 sales (Thu), given that the company is now as focused on this area as it is on clothing.
How did US retail fare in December?
Friday: Over the past few months US consumers have revealed a less conservative approach to spending and, while November’s retail sales numbers were disappointing, big ticket item sales have been picking up. Will December's retail sales reveal a loosening of the purse strings?
US banks release Q4 earnings
Friday: US banks have consistently outperformed their European and UK peers for the past six months or so, despite concern over a low interest-rate environment. This is largely because the US is already well into a rate-hiking cycle, which is boosting their margins. Wells Fargo, Bank of America and JP Morgan release Q4 earnings on Friday.
Selected UK & US company earnings schedule
|Monday 9 January||Results|
|Acuity Brands (US)||Q1|
|American Airlines (US)||December sales & revenue|
|International Consolidated Airlines (UK)||December sales & revenue|
|Southwest Airlines (US)||December sales & revenue|
|United Continental (US)||December sales & revenue|
|Tuesday 10 January||Results|
|boohoo.com (UK)||Q3 sales & revenue|
|Just Eat (UK)||Q1 sales & revenue|
|Lamb Weston Holdings (US)||Q2|
|Wednesday 11 January||Results|
|JetBlue Airways (US)||December sales & revenue|
|Signet Jewelers (US)||December sales & revenue|
|Tullow Oil (UK)||Q4 sales & revenue|
|Thursday 12 January||Results|
|Marks & Spencer (UK)||Q3 sales & revenue|
|Tesco (UK)||Q3 sales & revenue|
|Friday 13 January||Results|
|Bank of America (US)||Q4|
|JPMorgan Chase (US)||Q4|
|PNC Financial Services Group (US)||Q4|
|Wells Fargo (US)||Q4|
Company announcements are subject to change. All the events listed above were correct at the time of writing.
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Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.