What will drive the markets this week?
Markets closed lower last week on mixed results from major banks as worries over rising inflation and prospects of an economic slowdown saw major indices slump.
The earnings season continues this week with Bank of America, Charles Schwab, Johnson & Johnson, Netflix, Tesla, American Express, and others reporting quarterly results. Last week investors had initial insights into the financial sector’s performance, which saw mixed reports from major banks.
In economic data, China’s first-quarter GDP beat expectations after growing at 4.8% from a year earlier, the country announced on Monday. Beijing has set its GDP target at 5.5%, its least ambitious goal in three decades, though it’s already looking challenging in the face of lockdowns in Shanghai and the Russian invasion of Ukraine.
Monday, April 18
- Earnings from Bank of America, Charles Schwab, and BNY Mellon.
- China GDP Growth Rate (Q1 2022)
- Japan Industrial Production (February)
Tuesday, April 19
- Earnings from Johnson & Johnson, Netflix, Prologis, IBM, and Travelers Companies.
- U.S. Housing Starts (March)
- U.S. Building Permits (March)
Wednesday, April 20
- Earnings from Tesla, Procter & Gamble, Abbott Laboratories, CSX Corporation, Baker Hughes, and Nasdaq.
- Canada CPI (March)
- U.S. Existing Home Sales (March)
Thursday, April 21
- Earnings from Phillip Morris, Union Pacific. and AT&T.
- Eurozone CPI (March)
- Japan CPI (December 2021)
Friday, April 22
- Earnings from Verizon and American Express.
- U.K. Retail Sales (March)
- Canada Retail Sales (February)