This week's financial results and economic calendar (4/29~5/3) pay attention to Japan-US financial results and the US FOMC! Mr. Buffett's general shareholders' meeting will be held!

This week's points
Japanese stocks are expected to rise heavily this week. The Tokyo market will only be present for 3 days this week, but important events continue in the US, and there is a possibility that the market price will be rough in some cases. Also, there is a possibility that US economic indicators will lead to a retreat in interest rate reduction observations, which will cool down investors' desire to buy. Meanwhile, as Japan-US financial results have been announced one after another, searching using corporate performance as a clue has taken center stage, and it seems that it will support the market price.

In domestic corporate accounts, for companies with historic wage increases and the depreciation of the yenInvestors' attention is being drawn to the impact of cost increase factors. In order for Japanese stocks to reach a higher level, they are not biased towards some export sectors such as automobiles,A bright earnings outlook is needed for a wide range of industries, including the domestic demand sectorThat's it.The domestic demand sector shows a good performance plan, and whether stock prices can rebound is an important point. Also, the yen broke through the milestone of 155 yen against the dollar and hit a low for the first time in 34 years to the 158 yen range, and concerns about rising import costs of raw materials, energy, etc. have weighed on the upper price of Japanese stocks as a whole. If it becomes a trend where you aim for 1 dollar = 160 yen nonstop,“Depreciation of yen = sale of Japanese stocks”I want to keep in mind that there is a risk that bad associations will work.

The main focus is on the US FOMC to be held this week. Most people expect that the policy will remain unchanged, but Chairman Powell responded to future monetary policy at a press conferenceThe focus is on what kind of attitude it showsthat's it. David Donavedian of CIBC Private Wealth US stated that “it's not far before all interest rate cut observations disappear,” and Chairman Powell saidPossibility of making more hawkish statementsIt showed the view that there is. Chairman Powell overturned his previous views on 4/16, saying “due to recent economic data, we clearly no longer have confidence (of achieving inflation targets), and it will still take time to gain that confidence.” Furthermore, on the 3rdU.S. Employment Statisticswill also be announced, so don't lose your mind. If economic indicators such as employment are stronger than market expectations and interest rate hikes are necessary, it is likely that Japanese stocks will also be affected by depreciation of US stocks due to stock price valuation adjustments due to rising interest rates.Scenario where the yield on 10-year US bonds rises to the 5% markIt also takes on a sense of reality.

This week's dollar to yenRemain highIt is expected. Since the Bank of Japan did not show a strong stance on correcting the depreciation of the yen, the depreciation of the yen seems to advance further in the near future. Also, with the passing of the Bank of Japan meeting, the immediate focus has shifted to FOMC, US employment statistics, etc. If the FOMC emphasizes a cautious stance on lowering US interest rates, there is a possibility that pressure on the dollar will intensify further. Mizuho Securities chief exchange strategist said, “There are still many participants who want to buy dollars. If there is a situation where the dollar falls, including yen buying intervention, purchases will come out soon,” and it is predicted that the dollar will continue to stay high for a while.

Berkshire Hathaway, led by the “god of investment” Buffett, will announce financial results on 5/4. The stock price of Apple, which is the main investment destination, is year-to-dateOver 11%It has declined, and investment returns have become a burden, but Berkshire Hathaway's wide range of businesses is due to sustained economic recoveryStable cash flowThere is a high possibility that it will benefit from Also, Mr. Buffett's annual general shareholders' meeting will be held from May 3 to 4. The company recently issued a debt of 260 billion yen in Japan, and Mr. Buffett once againThere is a possibility that it will show a bullish stance on Japanese stocksThere is.

Last week's market price points
1. The Nikkei Average rebounded for the first time in 2 weeks, and the Bank of Japan continued its accommodative stance
2. The Bank of Japan decides to maintain the current state of monetary policy The price of 1 dollar = fell to 158 yen, and the depreciation of the yen accelerated
3. Tesla's stock price skyrocketed despite poor financial results! Moving forward with the “new model” Toyota bounces back while Tesla decelerates
4. Meta plummets, prospects are sluggish, will AI monetization come first? Will a sharp fall underfoot be a push
5. Microsoft's sales and profits exceed expectations! Google hits record high profit! First dividend start and share buyback announcement
6. Rapid deceleration in US GDP, inflation accelerates, and expectations of a soft landing are different
7. The US PCE core price index, the Fed's interest rate cut that exceeded market expectations was a step further away
8. The lead of the 7 largest US high-tech companies continues until anxiety about the economic recession appears

The Nikkei Average rebounded last week to 37,934.76 yen, 866.41 yen (2.34%) higher than the previous weekend, for the first time in 2 weeks. While the Fed's interest rate cut was a long way off,The Bank of Japan continues its accommodative stance. Semiconductor stocks stopped falling, good financial results for US high-tech stocks were also shown, etc.Mind is an improvementIt's being done. The Bank of Japan decided to maintain the current state of monetary policy at the monetary policy meeting. According to the outlook report, the price forecast for fiscal year 26 was 1.9%. It was also expected to reach 2%, so the marketA message to maintain an accommodative financial environmentIt was captured as such. Governor Ueda once again expressed the view that the impact on monetary policy operations due to the depreciation of the yen, which had advanced to the level for the first time in 34 years, could be a reason for a policy change if the underlying inflation rate had a major impact. The depreciation of the yen progressed for the first time in about 34 years156 yenAfter putting it on, it was rapidly bought back, and there was a scene where 154 yen was added, but it ended with a temporary backlash. The exchange rate of yen in the New York Foreign Exchange Market on the 26thUp to 1 dollar = 158 yenThe price has dropped.

What is the US GDP in Q1It showed economic deceleration and deep-seated inflation. Preliminary GDP figures fell far short of expectations, and growth was low for the first time in almost 2 years. Meanwhile, the PCE core price index rose to such a high level that it raised concerns. It has been getting stronger until nowContent that will water your expectations of a soft landingIt became. What is the yield on US bondsRecord the highest since the beginning of the year. The US PCE core price index announced on the 26th surpassed market expectations with a 2.8% increase from the previous year in March, providing new evidence that inflation improvements have stagnated, and interest rate cut observations have receded further, putting downward pressure on yen. Although uncertainty increased over the future of a reduction in US interest rates, people were keenly aware of the outlook for gold as an alternative asset rather than concerns about interest rates. According to bankame strategists, until an increase in real US interest rates causes concerns about a recession, it is only a handful in the US stock marketThe situation where large high-tech stocks influence overall movements continues. Despite the rough stock market in April, the performance of “Mag 7,” which includes NVIDIA, Apple, and Amazon, has maintained a significant lead over the performance of the entire market excluding them since the beginning of the year.