Monday:
The highly regarded ifo business climate index is expected right at the beginning of the week. This is based on around 9,000 monthly reports from companies in the manufacturing, service, construction, wholesale and retail sectors on the current business situation and expectations for the next six months. This is followed in the afternoon by the Chicago Fed National Activity Index for August, which also provides insights into the current economic situation, in particular the prevailing inflationary pressure on the population and companies.
Speaking of companies – no prominent dates such as quarterly figures or similar were announced on Monday.
However, another event for stock marketers is the next Instagram Live interview. Here Christian Köker talks to the influencer and full-time trader Michael Flender from Goldesel about the opportunities and dangers that both scenarios offer, especially for active investors.
We will also answer your questions as well as those from Michael’s 60,000 followers Insta community.
Look forward to an informative and interactive talk format.
The event starts Monday September 25th at 6:00 p.m. on our Instagram channel @hsbc_de.
Tuesday:
The bioenergy producer Verbio will publish its annual report on Tuesday together with the quarterly figures for the fourth quarter. Some economic indicators from the USA are expected in the afternoon. These include, for example, the “Philly Fed Index”, which reflects the monthly business development of the manufacturing sector in the US state of Philadelphia. The Dallas Fed Index provides comparable information, but for the services sector in Texas. The S&P CoreLogic Case Shiler index for July and new home sales for August could also provide interesting information about the future development of the real estate market in the USA.
The Q4 results of the US retailer Costco, known for its $5 grilled chicken, will follow at the US market close. With sales of $52.6 billion in the previous quarter, Costco is one of the Big 5 US retail store chains.
Wednesday:
On Wednesday the focus will shift back from the USA to European values. In this country, the Hornbach hardware store chain is publishing the Q2 figures and the GfK Institute is publishing consumer confidence for October – the French counterpart for September is also scheduled to be published around 8:45 a.m. During the course of the day, the ECB will also announce the M3 money supply before numbers from the USA arrive again. These include MBA mortgage applications and orders for durable goods.
Thursday:
The quarterly figures for Q4 from the British management consultant Accenture are followed by a whole wave of economic data. During the day the consumer prices for North Rhine-Westphalia, Bavaria, Brandenburg, Hesse, Baden-Württemberg and Saxony, but also those for Germany as a whole and Spain, each for the month of September, will be announced. Industrial and consumer confidence for Italy and the euro zone as a whole are expected around 10:00 a.m. and 11:00 a.m. respectively. Shortly before the final spurt of the week on Friday, the US initial claims for unemployment benefits and house sales in August are to be published.
Friday:
As with the rest of the week, there is only one company event, namely the extraordinary general meeting of AEGON, one of the world’s leading life insurers. According to the company, a decision will be made about relocating the group structure to Bermuda. In this respect, the focus remains on the economic data. As is often the case (due to the time difference), the Japanese labor market data, retail sales and industrial production in Japan for August begin at around 1:30 a.m. German time.
After the German federal states published their consumer prices for September on Thursday, the euro zone, Italy and France will follow on Friday (for France together with the producer prices). In view of the generally uncertain economic situation in this country, the German labor market data is particularly expected. Based on this, initial conclusions can be drawn about how heavily the economy is burdened by interest rates raised in the fight against stubborn inflation.
The US economic figures are actually very strong this week: the trade balance, consumer spending and retail inventories are due to be published before the well-deserved weekend. The Bureau of Economic Analysis also publishes the PCE price index. This differs in some respects from the CPI (consumer price index), also known from the EU, and is primarily intended for measuring US inflation. Among other things, the shopping baskets, weightings of the individual products and the mathematical calculation basis are different, which makes the two price indices only comparable to a limited extent.
Even before the local stock exchanges close, the MNI Chicago Purchasing Managers Index and the University of Michigan Sentiment Index for September are added.
That’s it for the weekly outlook – you can also find stock market reading for your weekend on our homepage. Whether it’s breaking news, specialist articles in our academy or the live webinars from Julius Weiß and Jörg Scherer.
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Source: HSBC