Market Focus
In U.S., earnings results will be the highlighted issues for investors this week. Many financial companies will release their quarter 4 corporate earnings - Goldman Sachs and JPMorgan Chase will announce their earning results on Wednesday, and Bank of America and Citigroup will release their reports on Thursday.
Federal Reserve Chairman Ben Bernanke will give his speech in the University of Michigan on Monday. Investors would like to know is there any change of Fed's attitude toward the latest bond purchase program.
A wide range of U.S. economic data is scheduled to release this week. Retail sales figure and the Empire State manufacturing index will be reported on Tuesday and CPI data will be released on Wednesday.Housing starts numbers and the Philadelphia Federal Reserve factory activity index are due on Thursday and The Thomson Reuters/University of Michigan consumer sentiment numbers will be the focuses of investors on Friday.
Battle of debt ceiling will continue in Washington, however, the debate is unlikely to under investors’ focuses as the negotiation is not expected to have any breakthrough this week.
In China, quarter 4 GDP will be released on Friday. China and Hong Kong markets booked significant returns over last two months as investors believed the China’s economy is “bottomed-out” in last quarter. The latest GDP figure is possible to give new evidence to global investors. Moreover, figures of retail sales and industrial production are due on the same day.
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