Weekly Reports | May 19 2023
This story features TECHNOLOGY ONE LIMITED, and other companies. For more info SHARE ANALYSIS: TNE
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 will closely scrutinise the minutes of the May Fed meeting due on Wednesday, as nerves build that an expected pause may not be forthcoming. Not that it seems to be bothering the stock market at present.
With the S&P500 now sitting right at the top of its 2023 range, tonight’s action will be critical. Can we see a breakthrough?
Once the minutes have been digested, Wall Street will then look to April PCE inflation numbers on Friday, along with durable goods orders and consumer sentiment, following a revision to the US March quarter GDP result on Thursday.
Tuesday sees the release of flash May PMI estimates across the globe.
The RBNZ meets next week. If you think we’ve got problems, New Zealand’s cash rate is 5.25%.
In Australia, the major economic release next week is April retail sales on Friday. Not as critical as wage growth and jobs numbers released this week, but still more fodder for the RBA to digest.
For a calendar of earnings result releases and a summary of earnings results to date, refer to FNArena's Corporate Results Monitor (https://www.fnarena.com/index.php/reporting_season/)
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