5 Developments to Follow Next Week

Here are 5 important developments to follow next week. The Bitcoin ETF will continue to be one of the highlights the week.

1. Earnings Reports

Several companies will present earnings reports, including Tesla (NASDAQ:TSLA), Intel (NASDAQ:INTC), and Johnson & Johnson (NYSE:JNJ). On Thursday, Netflix (NASDAQ:NFLX), the FAANG group of US tech giants (Facebook (NASDAQ:FB), Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Netflix and Google's parent company Alphabet (NASDAQ: It will kick off the third quarter earnings period for GOOGL)).

2. US Data

The US will present industrial production data on Monday, and housing permits and housing starts reports on Tuesday. While industrial production has been depressed by supply chain issues, housing data is expected to remain strong as the recent surge in mortgage applications marks a fresh surge in activity after a stagnant spring and summer. The Fed's Beige Book will be released on Wednesday, and it could strengthen expectations to cut purchases. The September Fed meeting minutes released last week showed that an announcement in November is likely and the reduction could even begin at the end of the same month.

3. Chinese GDP

In recent months, the Chinese economy has faced multiple hard hits, from the Evergrande-induced real estate market crisis to the delta variant, from the energy crisis to supply bottlenecks and rising commodity prices. Therefore, investors will be eagerly awaiting the third quarter GDP data on Monday. Factory production and retail sales figures will also be shared. Economists estimate that economic growth has slowed to 5.2% annually, compared to the previous quarter, which experienced 7.9% growth.

4. UK Inflation Data

Data on Wednesday is expected to see the fastest increase in the UK's CPI reading in nearly nine years in September. Economists expect an annual reading of 3.2%. Rising energy prices and supply chain bottlenecks mean that the BoE expects inflation to surpass 4% at year-end and stay at those levels in the first half of 2022.

5. Bitcoin Futures ETF

The first US-listed bitcoin futures ETF will begin trading next week, despite last-minute objections from the SEC. The ProShares Bitcoin Exchange Traded Fund will begin trading on the New York Stock Exchange on Tuesday. A day later, the Invesco Bitcoin Strategy ETF will be able to start trading if the SEC does not interfere.     Source: Investing.com