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Markets expect key meetings of the Federal Reserve and the Bank of England

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Wall Street indexes S&P 500 and Nasdaq will kick off the trading in the first session of the week at historical highs.

Last week, the broader benchmark S&P 500 climbed to 2,939.88 points, an all-time closing high, while the technology index Nasdaq Composite ended at 8,146.40 points. The blue-chip index Dow Jones Industrial Average rose to 26,543.33 points and closed 1.5% below its all-time high.

Together with all the important macro data that will be released in the new week, the markets will also track the current economic forecasts of the European Commission.

Upcoming economics data

On Monday, April 29, the markets will focus on the statement by the Governor of the Central Bank of England, Mark Carney. Laters, the eyes will turn to the business climate and consumer confidence in the Eurozone for April. In the US there will be data on personal consumer spending in the country in March.

On Tuesday, April 30, the day will start with France’s preliminary GDP figures for the first quarter of 2019 with analysts’ consensus forecasts for slow down to 0.1% compared to the fourth quarter of last year, when growth grew by 0.3%. In Germany, will be released Consumer Climate Index, which is expected to rise to 10.8 points from 10.4 points in April. Later in the day, a series of data on the labor market in the country will be posted as well as preliminary data on inflation in April. During the day, the market focus will be on the Russian PMI data in the industry sector for April. For the Eurozone, will be published the preliminary GDP data. At the end of the day, information on consumer confidence and the housing market will be published in the United States.

On Wednesday, May 1, the first news will come from New Zealand, with data on the country’s labor market. The Central Bank of Japan will publish the minutes of its last meeting. In the UK, there will be data on the industry PMI for April. Later will be released the data for US industry PMI and crude oil inventories. The key event for the week is the Federal Reserve session and the signals it will send to the markets Jerome Powell. The International Workers’ Day is celebrated in most of the world.

On Thursday, May 2, will be published the data of industry PMI for April in China, Italy, France, Germany, and the Eurozone. In the UK, will be released the data on the Construction Purchasing Managers’ Index in April with a consensus forecast for a slight acceleration to 49.8 points from 49.7 points in March. During the day, the European Commission will publish its current economic forecasts. Glances will also be on the meeting of the Central Bank of England and the statement of its CEO, Mark Carney. From the United States, there will be news for factory orders in March with expectations for growth on a monthly basis of 0.7%, down by 0.5% a month earlier.

On Friday, May 3, in the UK, markets will track the services PMI for April. In the Eurozone, will be released the data on inflation in April. The week will end with a series of important US macro data for the labor market and the PMI of service and industry.

Upcoming earnings reports

With 46% of the companies in the S&P 500 already reporting actual results for the first quarter, 77% have a positive EPS surprise and 59% have reported a positive revenue surprise. During the new week will have a new portion of financial statements.

On Monday, April 29, the markets will focus on earnings reports of Google’s parent Alphabet Inc and technology company Spotify. During the day will be posted the financial statements of the offshore drillers Diamond Offshore Drilling and Transocean, as well as engineering company McDermott International. Also, the investors will expect the financial report of the computer hard disk drive manufacturer Western Digital and conglomerate Loews Corporation.

On Tuesday, April 30, the focus of the market will be on the earnings statements of General Electric, General Motors, as well as pharmaceutical giants Pfizer Inc and Merck & Co. During the day will be released the financial reports of chipmaker Advanced Micro Devices (AMD), fast food chain McDonald’s Corp and the financial services company Mastercard Inc. Also will be released the financial statement of tanker operator Euronav and the aircraft manufacturer Airbus SE. The key event for the day will be the earnings report of the smartphone maker Apple Inc.

On Wednesday, May 1, will be published the earnings of technology giants Qualcomm Inc, Automatic Data Processing Inc and the financial services company Square Inc. During the day the markets will watch for the financial statement of The Kraft Heinz Co.

On Thursday, May 2, the investors will expect the earnings reports of the video game company Activision Blizzard Inc, aerospace company Ball Corp, computer networking company Arista Networks Inc and biotechnology developer Gilead Sciences Inc. Key event for the day will be a financial report of the health insurance company Cigna and the chemicals company DowDuPont.

On Friday, May 3, all the eyes will be turned to the earnings report of the Warren Buffett’s Berkshire Hathaway Inc. Also during the day will be published the financial statement of the German chemical giant BASF SE.