Weekly Reports | Aug 12 2016
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
The last two weeks were merely a curtain raiser – next week sees the local earnings season really shift into gear. We’ve now reached the point at which there are too many companies reporting to suggest highlights, so please refer to the FNArena calendar (link above).
For the record, the first two weeks have produced 42% beats and 29% misses, a balance of 11/11 broker up/downgrades and a 3% net target price increase. But in volume terms, it’s very early days.
As earnings take focus there is very little in the way of local economic data to consider next week, beyond the release of the minutes of the August RBA meeting. We’ll also see minutes from the Fed and ECB over the week.
US data releases next week include housing sentiment and starts, industrial production, inflation and the Empire State and Philly Fed activity indices.
With US earnings season winding down, Wall Street sitting at new highs and Fed speculation forever rife, US data are becoming increasingly critical.
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