Next Week At A Glance

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

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

Wall Street appears to now have shaken off that which sparked the correction but many are warning we may only be witnessing a typical relief rally ahead of another leg lower. A lot will depend on oil price movements and ongoing Ebola concerns but next week’s Fed policy meeting will be critical.

Will the FOMC back off to a more dovish tone? We will also see the first estimate of US September quarter GDP next week.

For the local market, a push back through 5400 takes us to roughly a 50% retracement of the correction which is a likely level for consolidation, barring any further left of field developments.

The earnings season will continue on in the US next week and a raft of economic data is due alongside GDP. Pending home sales, the Case-Shiller house price index, consumer confidence, durable goods, the Richmond Fed manufacturing index, Chicago PMI and personal income and spending numbers will all be released through the week.

The eurozone begins the week with Germany’s influential IFO business sentiment survey and ends the week with unemployment numbers and the all-important flash estimate of current CPI. Japan releases retail sales, industrial production, unemployment and inflation data across week which culminates in a Bank of Japan policy meeting.

On the local stock front, the trickle of AGMs turns into a torrent next week with too many names to highlight, while resource sector production reports continue to flow. Towards the end of the week, Woolworths ((WOW)) will report quarterly sales numbers and National Bank ((NAB)) and ANZ Bank ((ANZ)) will report FY14 earnings.
 

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