Weekly outlook: April CPI will be released soon, and China Securities will take over the earnings season! JD and Ideal Auto's financial reports are coming
This week's main economic data, the US CPI data for April, the number of initial jobless claims, and the preliminary value of the University of Michigan Consumer Confidence Index for May, etc., are piling up.
In terms of financial events, Federal Reserve officials will take turns speaking, including Governor Jefferson, New York Federal Reserve Chairman Williams, and Governor Waller. Furthermore, the risk of a debt default is imminent, and US President Joe Biden will meet with four senior congressional leaders to discuss the debt ceiling.
In terms of financial reports, although the peak of the Q1 earnings season for US stocks has passed, there are still some important companies that have announced their results, including China Securities Ideal Auto and JD. American new energy vehicle brands $Lucid Group(LCID.US$ 、 $Rivian Automotive(RIVN.US$ As well as stock god Buffett's frequent bets before $Occidental Petroleum(OXY.US$ The quarterly report will be announced after the US stock market on Monday and Tuesday, respectively.
On Monday, economic data was quite lackluster. Investors should pay attention to the monthly rate of wholesale sales in the US in March.
In terms of financial reporting, $Palantir(PLTR.US$ 、 $Lucid Group(LCID.US$ 、 $PayPal(PYPL.US$ Financial reports will be announced after the US stock market.
On Tuesday, in terms of economic data, investors should pay attention to important data such as China's April trade data, China's April M2 money supply annual rate, China's April M2 money supply scale, and the US April NFIB Small Business Confidence Index
In terms of the incident, Federal Reserve Governor Jefferson will deliver a speech.
Additionally, Biden is scheduled to meet with 4 congressional leaders on the debt ceiling on Tuesday. US Treasury Secretary Yellen previously warned that it may face a “risk of debt default” as early as June 1, but now there is not much time left for the US government. Until June 1, this issue may continue to plague the market.
In terms of financial reporting, $Rivian Automotive(RIVN.US$ ， $Occidental Petroleum(OXY.US$ $Upstart(UPST.US$ $Affirm Holdings(AFRM.US$ $Airbnb(ABNB.US$ 、 $Virgin Galactic(SPCE.US$ A number of other companies will announce their results.
On Wednesday, in terms of economic data, investors should focus on the US CPI data for April. It may decide whether the Federal Reserve will suspend interest rate hikes at the next meeting and keep interest rates unchanged.
Analysts expect the US CPI to stabilize at 5% in April, while the core CPI (excluding highly volatile factors such as food and energy) will fall from 5.6% to 5.4%.
In terms of financial reporting, $Li Auto(LI.US$ 、 $Roblox(RBLX.US$ Financial reports will be announced in advance of the US stock market. $Disney(DIS.US$ 、 $Beyond Meat(BYND.US$ Results will be announced after the market.
Analysts Needham previously reiterated Roblox's “buy” rating and target price of $53. According to Roblox's latest report, the company's development trend accelerated in March, the number of daily active users (DAU) increased by 26%, and bookings at a fixed exchange rate increased by 27%, which is the fastest growth rate in the past period. The bank raised its reservation forecast for fiscal year 2023 by about 1%, and it is expected that Roblox will continue this trend for the rest of the year, although it will slow down compared to the March growth rate.
On Thursday, in terms of economic data, the US will release PPI data for April and the number of jobless claims for the week ending May 6. Currently, the market expects that the number of jobless claims may continue to rise slightly at the beginning of the week.
Newly released data shows that the number of initial jobless claims in the US recorded the biggest increase in 6 weeks, indicating some weakness in the US labor market. According to the data, in the week ending April 29, the number of first-time jobless claims increased by 13,000 to 242,000. The number of renewed jobless claims fell to about 1.81 million in the week ending April 22.
The number of people renewing unemployment benefits includes the number of people who have been receiving unemployment benefits for a week or more, which is a good indicator of how difficult it is for people to find work after losing their jobs.
In terms of financial reporting, $JD.com(JD.US$ ， $SoundHound AI(SOUN.US$ Financial reports will be released
On Friday, in terms of economic data, the US will announce the monthly import price index rate for April, the one-year inflation rate forecast, and the initial value of the University of Michigan consumer confidence index for May.
Currently, the market expects the initial value of the University of Michigan Consumer Confidence Index to be 63 in May, which is slightly lower than the previous value of 63.5.
Joanne Hsu, director of consumer research at the University of Michigan, said earlier that consumer confidence did not change much in April, up less than two points from March. Purchases of durable goods improved by 11%, mainly due to reduced affordability concerns. Mitigated. Although consumers are hearing more negative news about the business environment, their expectations for the short and long term economic outlook have improved slightly from last month. These improvements are offset by deteriorating personal financial assessments due to increased spending, reflecting the continuing pain caused by continued high prices.
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