Look ahead: Lloyds; Nestlé; WPP; Eurozone, UK, US manufacturing
Even before the Nvidia excitement subsides, investors will get another wave of earnings from companies including Lloyds, Nestlé, WPP and Rolls-Royce.
After the FOMC minutes, we get manufacturing data from the US, eurozone, and the UK.
(AI Video Summary)
Eurozone, US and UK PMI numbers
Today's "Look ahead" talks about important events and data releases happening on Thursday, 22 February that could impact trading. One important data to watch is the manufacturing services PMI numbers, which will be released for the eurozone, UK, and US. The US PMI data is particularly significant because it suggests that inflation concerns are still present. The US dollar has been experiencing a lot of ups and downs lately, but expectations of a rate cut by the Federal Reserve have decreased.
The video also mentions other key data releases for the US, such as initial jobless claims and existing home sales figures. Positive data in these areas could give the Fed more reason to hold off on an interest rate cut. The EIA crude oil inventory figures are also important to watch as they can impact oil prices, which have been influenced by supply and weak demand.
Major earnings reports incoming
The video also touches on some earnings reports that will be released, including Lloyds Banking Group, Rolls-Royce, and Nestlé. Nestlé's performance is particularly interesting because it has been stuck in a sideways trend since October 2023. It will be important to see how the company deals with the supply chain crisis and their ability to pass on costs.
The video also advises paying attention to consumer trends and inflation. Some consumer goods companies have been able to increase prices, while others have faced resistance from consumers. Slow sales growth in many parts of the world raises concerns about persistent high inflation.
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