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Wall Street in anticipation of the reporting season kick-off and major economic data releases

Wall Street

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The second week of April will be important for the markets with investors following key economic data, such as the UK GDP, US inflation, industrial output in the Eurozone and other key market indicators. Moreover, the week will give the kick-off of the new reporting season on Wall Street.

Last week, the blue-chip index Dow Jones Industrial Average and the broader benchmark S&P 500 reported a weekly growth of about 2% this, while the technology Nasdaq Composite advanced by 2.7%. This is a second consecutive weekly rise for the main Wall Street benchmarks.

The investors’ attitudes were backed by better-than-expected job data and progress in US-China trade talks.

Upcoming economics data

On Monday, April 8, Germany will release its trade balance for February. In the United States, will be released the data on factory orders for February. The consensus forecast is to lower orders by 0.5%, with a growth of 0.1% in the previous month.

On Tuesday, April 9, Switzerland will announce the unemployment in the country in March with the expectations to keep the current level of 2.4%. In the United States, will be published the data on job vacancies.

On Wednesday, April 10, will be released a series of macroeconomic data for the UK – GDP, industrial output, industry output, and trade balance. The monthly report of the Organization of Petroleum Exporting Countries (OPEC) will be published later in the day. Also during the day is expected the meeting of the European Central Bank (ECB) on the monetary policy with the focus on the speech of Mario Draghi. The US will report the data on inflation in March with analysts forecasts for acceleration from 0.2% to 0.3%. Markets will also track current oil crude data. The Federal Reserve will publish the minutes of its last meeting.

On Thursday, April 11, the expectations are that Chinese inflation will accelerate to 2.4% in March. For comparison, a month earlier, inflation was 1.5%. The inflation data for March will also be announced in Germany with the consensus estimate to maintain the level of 0.4%. In the US will be published the producer price index with expectations for growth acceleration from 0.1% in February to 0.3% in March.

On Friday, April 12, China will announce its trade balance data for March. In the focus of the markets is also the industrial output in the Eurozone for February. Forecasts show a decrease of 0.6% at a registered growth of 1.4% a month earlier.

Upcoming corporate earnings

On Monday, April 8, will be posted the finance report of the leading international manufacturer and supplier of green energy products ReneSola.

On Tuesday, April 9, the markets will focus on the financial statements of manufacturing company Lindsay Corporation, as well as the jeans brand Levi Strauss & Co.

On Wednesday, April 10, will be published the finance report of Delta Air Lines, as well as the earnings statement of the luxury goods conglomerate LVMH.

On Thursday, April 11, will be posted the French food services and facilities management company Sodexo, as well as the airport and cargo terminals operator Corporacion America Airports.

On Friday, April 12, will be published the earnings reports of the financial giants JPMorgan Chase & Co and Wells Fargo & Company.