Next Week At A Glance

This story features MYER HOLDINGS LIMITED. For more info SHARE ANALYSIS: MYR

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 Calendar.
 

By Greg Peel

With G20 leaders meeting in St Petersburg and the US Congress still yet to vote on retaliation, it appears Syria yet again becomes a story for next week. One feels whatever action might be decided on, if any, loses its oomph as each day passes.

For Wall Street, it’s all about tonight’s jobs number. Unemployment is the Fed’s primary measure of the state of the US economy and this is the last monthly jobs release before the September 18 FOMC meeting at which the committee is expected to vote to commence QE tapering. Market opinion has swung away from the will they/won’t they debate towards assuming they will, and then debating by how much. Will monthly purchases drop from US$85bn per month to US$65bn, or only to US$75bn? All will be revealed in another week’s time.

In Australia the market is also making its own assumption, and that is of a Coalition victory at the polls tomorrow. Bridge Street will simply be relieved that the election is finally over. Irrespective of policy, if a new government can usher in a period of political stability then that is all a stock market needs to be happy.

For Bridge Street next week China will also be in focus again, with China’s trade balance due on Sunday, inflation data due on Monday and industrial production, retail sales and fixed asset investment numbers out on Tuesday.

Bank economists dominate proceedings in Australia next week with the ANZ job ads series on Monday, NAB business confidence on Tuesday and Westpac consumer confidence on Wednesday. On Thursday it’s the local unemployment number.

The US will see wholesale trade, retail sales, the PPI and fortnightly consumer sentiment over the week.

The RBNZ will hold a policy meeting on Thursday.

On the local stock front, ex-dividend activity will be rife next week, particularly on the Monday, and there will be a handful of late season profit reports including the likes of Myer ((MYR)), Sigma Pharmaceutical ((SIP)) and a handful of junior resource stocks on the Friday.
 

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.

Click to view our Glossary of Financial Terms