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5 Important Developments to Follow Next Week

5 important developments to follow next week have been announced. Earnings reports are eagerly awaited as inflation concerns persist in the US.

Yazar: Eylem Özer

Yayınlanma: 15 Kasım 2021 01:41

Güncellenme: 10 Kasım 2024 02:50

5 Important Developments to Follow Next Week

5 important developments to follow next week have been announced. Earnings reports are eagerly awaited as inflation concerns persist in the US.

1. Retail Sales in the US The prominent data in the economic calendar of the week will be the retail sales figure for October, which will be published on Tuesday. Economists expect it to have risen by another 1.1% after rising 0.7% in September. Amid global supply chain issues, US inflation hit a three-year high, and data on Friday showed CPI dropped to a decade low this month as higher prices lowered living standards. 2. Retailers Earnings As the third-quarter earnings season draws to a close, investors will receive a fresh update on the state of consumer spending, with results from major retailers including Home Depot (NYSE:HD), Walmart, Target (NYSE:TGT) and Macy's. The third quarter earnings season yielded largely optimistic results. As of Friday, 459 companies in the S&P 500 index submitted reports, and 80% of earnings results beat analysts' estimates, according to the Reuters report. 3. Recovery Is Weakening in China The recovery in China is weakening and Monday's data on retail sales, fixed asset investment and industrial production are expected to confirm that. The loss of momentum in China, which is an important pioneer of global growth, casts a shadow over the global economies' exit from the pandemic, albeit irregularly. On the other hand, US President Joe Biden will hold an online meeting with Chinese leader Xi Jinping on Monday. But US officials did not give any hope of progress on trade. 4. UK Labor Data The BoE indicated that it wants to learn more about the strength of the UK's labor market in order to raise interest rates for the first time since the epidemic. That's why Tuesday's business data will draw a lot of attention. After the business data, inflation figures on Wednesday and retail sales data on Friday will be shared. While inflation is expected to continue to rise for now, the BoE may move forward with a rate hike at its December meeting. 5. Number of Cases is Increasing in Europe The number of Covid-19 cases is increasing in Europe, ringing the bells for the already fragile economy of the region. Europe accounts for more than half of the average seven-day number of infections globally, and close to half of recent deaths, according to data collected by Reuters. These are the highest levels seen in Italy since April last year, when the epidemic peaked.     Source: Investing.com    
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