Next Week At A Glance
There is little doubt Wall Street will be dominated next week by tax reform debate and negotiation. When Trump returns from APEC he will not be happy about what might prove an inevitable compromise of a delay to the corporate tax cut. Last night’s initial -250 point drop in the Dow highlights to what extent a cut has been priced in.
Tension is also increasing in the Middle East. Why has Saudi Arabia warned its nationals to get out of Lebanon?
China’s economy will be under further scrutiny next week with the release of October industrial production, retail sales and fixed asset investment numbers.
The US will also see retail sales and industrial production numbers, along with inflation, housing sentiment and starts and the Empire State and Philly Fed activity indices.
In Australia we’ll see the NAB business and Westpac consumer confidence surveys and the October jobs numbers. We’ll also see the now all-important wage price index for the September quarter, ahead of next month’s GDP result.
On the local stock front, the next two weeks are the busiest in the current AGM season, with too many names to highlight.
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