Next Week At A Glance
Tonight’s open on Wall Street will be critical. A gap down suggests a greater fall towards the 200-day moving average on the S&P500, or a further -2.7%. If buyers emerge early the previous low will hold, for now, but may yet need to be retested in the short term.
Next Thursday sees the beginning of the week-long Chinese New Year break, for which the whole country shuts down. Given Chinese economic data releases are not seasonally adjusted, we will once again see a period of volatility in upcoming data reflecting the before, during and after periods of Chinese New Year.
Japan is closed on Monday, ahead of its December quarter GDP release on Wednesday.
US data releases will get lost in the wash as current volatility plays out, although Wednesday’s CPI number will not be ignored. Inflation fear set this correction in train last week.
Other US releases next week include retail sales, industrial production, housing sentiment, housing starts, consumer sentiment and the Empire State and Philly Fed indices.
Australian releases include the monthly NAB business and Westpac consumer confidence surveys and January jobs numbers.
The local results season steps up a gear next week. With reporting companies now becoming too numerous to highlight, please refer to the FNArena calendar (link above).
FN Arena is building the future of financial news reporting at www.fnarena.com. Our daily news reports can be trialed at no cost and with no obligations. Simply sign up & get a feel for what we are trying to achieve.
The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.