Weekly Watch | Inflation, Walmart, Target Highlight a Consumer Focused Week; Global Attention on APEC in San Francisco!

M+ Global Updates 13/11/2023 18:24

The Weekly Calendar offers a detailed summary of the events, economic reports, and upcoming earnings reports that will influence the US and HK markets this week.

Data and Events Overview:

The US government is scheduled to release the October inflation report on Tuesday at 8:30 AM ET.

Economists are predicting that headline CPI inflation will have risen by 3.3% over the previous year in October, a decrease from the 3.7% rise observed in September. Prices are expected to have increased by 0.1% over the previous month, down from a 0.3% gain in September. The anticipated slowdown is largely attributed to a decrease in energy prices.

On a "core" basis, which excludes the volatile food and energy categories, CPI is forecasted to have risen by 4.1% compared to last year in October, remaining unchanged from September. Monthly core price increases are also expected to be at 0.3%, aligning with the previous month's figures.

Given the data-dependent nature of the US central bank, investors will closely monitor the latest retail sales figures and the October producer price index report, both scheduled for release at 8:30 AM ET on Wednesday.

Wall Street economists anticipate that the October retail sales report will indicate a potential decline in consumer spending. According to data from Bloomberg, economists project a 0.3% decrease in retail sales for October compared to the previous month, marking the first negative print since March.

In the Asia-Pacific region, the 30th APEC Leaders' Informal Meeting will be held in San Francisco, USA, from November 11th to 17th, with the Presidents of China and the United States scheduled to meet from the 14th to the 17th.

On the 17th, the Hang Seng Index Company will announce the results of the Q3 Hang Seng Index review.

On the Earnings Front:

Eyes will be on the major U.S. retailers next week as they gear up to release their earnings, bringing the third quarter reporting season to a close. As the final group to reveal their financial results, investors are eagerly awaiting insights into consumer spending health amid concerns over stubbornly high inflation and recession fears.

Additionally, China-based companies listed in the U.S. as well as Hong Kong are slated to release their financial reports.

Monday

HK Earnings: No notable earnings

U.S. Earnings: $Tyson Foods, Inc. Class A TSN$ $Mizuho Financial Group, Inc. Sponsored ADR MFG$ $Sun Life Financial Inc. SLF$ $XP Inc. XP$ $AECOM ACM$

Tuesday

HK Earnings: $TME-SW 01698.HK$

U.S. Earnings: $Sea Limited SE$ $Home Depot, Inc. HD$ $Sumitomo Mitsui Financial Group, Inc. Sponsored ADR SMFG$

Wednesday

HK Earnings: $TENCENT 00700.HK$ $XPENG-W 09868.HK$ $JD-SW 09618.HK$

U.S. Earnings: $Target Corporation TGT$ $JD.com, Inc. Sponsored ADR Class A JD$ $XPENG INC. XPEV$ $Cisco Systems, Inc. CSCO$

Thursday

HK Earnings: $NTES-S 09999.HK$ $BABA-SW 09988.HK$

U.S. Earnings: $Wal-Mart Stores, Inc. WMT$ $Alibaba Group Holding Ltd. Sponsored ADR BABA$ $Macy's Inc M$

Friday

HK Earnings: $APPL MATERIAL-T 04336.HK$

U.S. Earnings: $BJ's Wholesale Club Holdings Inc BJ$

As for IPOs:

In the Hong Kong market, the engineering service provider, Shanxi Installation, will wrap up its subscription on M+ Global this coming Tuesday at 10 a.m. WuXi XDC Cayman will also announce its allotment result on Thursday.

On the US front, five new anticipated stocks are scheduled to go public this week. These consist of $Richtech Robotics RR$ $Fenbo Holdings Ltd. FEBO$ $Elevai Labs, Inc. ELAB$ $SolarMax Technology SMXT$ $DDC Enterprise DDC$

However, it is important to note that IPO timing in the US can change at any time, whether advanced or delayed. Investors should continue to follow relevant news closely.

Please stay tuned for all the latest updates and insights on market movements as the week unfolds.

Have a great trading week!

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