Next Week At A Glance

This story features ANZ GROUP HOLDINGS LIMITED, and other companies. For more info SHARE ANALYSIS: ANZ

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena
 

By Greg Peel

With the Anzac Day holiday tomorrow, Wall Street will see two sessions before local trading resumes on Monday. Tonight’s session should at least begin with a boost from solid aftermarket results from Facebook and Apple, while ensuing results will continue to come thick and fast into next week.

As at last night’s New York close, the consensus S&P 500 earnings growth expectation had slipped to minus 1.2% from minus 1.1% at the beginning of the week, and 0% prior to the season. But hey, let’s blame the weather.

Tonight in the US sees durable goods and tomorrow night consumer sentiment. Next week amidst a flood of corporate earnings we’ll see some important data releases, not the least of which will be the April jobs numbers.

Wednesday is May 1, and thus European markets will be closed for May Day, but the usual run of manufacturing PMI data will be provided for Australia, China, the UK and US with the eurozone running a day behind.  The US will see the ADP private sector jobs number on Wednesday and non-farm payrolls on Friday, but the real clanger will be the first estimate of March quarter GDP, due on Wednesday. Weather, or not? And the Fed will hold a policy meeting to boot.

Other US economic releases during the week include pending home sales, the Case-Shiller house price index, consumer confidence, the Chicago PMI, construction spending, personal income & spending, vehicle sales and factory orders.

If we don’t have a better handle on the state of the US economy by the end of next week, we never will.

The UK will release its first estimate of March quarter GDP next week, while the Bank of Japan will hold a policy meeting. Japanese markets will be shut on Tuesday and Chinese markets will be shut on Thursday and Friday.

Australia will see the aforementioned manufacturing PMI along with private sector credit, house prices, building approvals, new home sales and the March quarter PPI.

The Australian corporate calendar will start to really fill up from next week, as the last of the resource sector production reports run into a raft of AGMs and a handful of off-cycle earnings reports. ANZ Bank ((ANZ)) and Macquarie Group ((MQG)) will offer the highlights of the latter. And Wesfarmers ((WES)) and Woolworths ((WOW)) will report quarterly sales numbers.

 

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