ETX Capital Daily Market Bite, 28th January, 2013: Subdued Start To A Busy Week; European Mkts Up
January 28, 2013 9:30 am
January 28th, 2012, Daily Market Bite from Ishaq Siddiqi Market Strategist.
European financial markets kick off the week in an upbeat manner, helped by an advance in most Asian markets overnight and general bullishness with the US S&P500 index not too far from its all-time high. That said, with high profile earnings from both the US and Europe in full swing, together with an onslaught of tier-1 economic data due during the course of this week, markets are likely to pause for breath during Monday’s session. An encouraging earnings season in the US so far bodes well for the European corporate results, with traders now less cautious about the health of the corporate sector compared to the fears that weighed on the market earlier in the month. In the US later, we have earnings from Caterpillar Yahoo! and Illumina. On the economic menu, US durable goods orders and pending home sales will be under the spotlight. Little out on the European corporate and economic calendar with only euro zone money supply worth noting. Markets will also focus on Italian consumer confidence together with debt auctions by Italy and Germany. For the week ahead, we have US 4Q GDP, Fed policy meeting, German jobs data and the all important US nonfarm payrolls report.
January 28th, 2012, Daily Market Bite from Ishaq Siddiqi Market Strategist.
European financial markets kick off the week in an upbeat manner, helped by an advance in most Asian markets overnight and general bullishness with the US S&P500 index not too far from its all-time high. That said, with high profile earnings from both the US and Europe in full swing, together with an onslaught of tier-1 economic data due during the course of this week, markets are likely to pause for breath during Monday’s session. An encouraging earnings season in the US so far bodes well for the European corporate results, with traders now less cautious about the health of the corporate sector compared to the fears that weighed on the market earlier in the month. In the US later, we have earnings from Caterpillar Yahoo! and Illumina. On the economic menu, US durable goods orders and pending home sales will be under the spotlight. Little out on the European corporate and economic calendar with only euro zone money supply worth noting. Markets will also focus on Italian consumer confidence together with debt auctions by Italy and Germany. For the week ahead, we have US 4Q GDP, Fed policy meeting, German jobs data and the all important US nonfarm payrolls report.
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