Weekly Reports | Aug 24 2018
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
We’re now through the worst of the local results season, praise the Lord, in terms of busy days due to volume of reporting companies. However there remain around another hundred companies (covered by FNArena database brokers) left to report. Thankfully, given the month stretches right to the end of the week this year, that remaining volume is fairly evenly spread out.
Around two-thirds of the way through by number of companies, most notable is a larger than average percentage of “in line” results, and a beat/miss ratio running at a below average 1.2. Broker downgrades to ratings are outnumbering upgrades by more than two to one – a ratio not seen since August 2015. But we’ll reserve final judgment for early September.
By then we may have a new government.
The Fed chair speaks in Jackson Hole tonight, but is not expected to change the world.
US data releases next week include pending home sales, house prices, consumer confidence and personal income & spending, including PCE inflation.
China will release manufacturing and services PMIs at the end of the week.
Locally we’ll see building approvals and private sector credit, along with June quarter private sector capex numbers.
Note that as the results season winds down, the number of daily ex-divs ramps up.
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