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what to watch around the world next week: robotaxi is about to appear in the fed minutes and cpi is ready to go

2024-10-06

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financial news agency, october 6 (editor zhao hao)this week, u.s. stocks recorded four consecutive weekly positives with weak gains. in contrast, u.s. chinese concept stocks, chinese asset etfs and hong kong stocks have risen sharply, making the outside world look forward to the performance of a shares after the market opens next tuesday.

looking back at the week's trend of us stocks, the overall trend revolves around three major themes: the federal reserve, us employment data and conflicts in the middle east. earlier this week, federal reserve chairman jerome powell said it would gradually lower interest rates "over time," while reiterating that overall u.s. economic conditions remain solid.

next week, several fed officials will speak out, as well as the minutes of the september meeting, which will provide investors with clues as to the central bank's next move. friday's far-better-than-expected non-farm payrolls report led the market to expect a high probability (97%) that the bank will cut interest rates by 25 basis points in november. however, given that there will be a cpi report for september next thursday, this prediction may still be variable.

in terms of conflicts in the middle east, the situation is escalating at "multiple points". shortly before going to press, israeli prime minister benjamin netanyahu issued a video speech, saying that israel is determined to resist threats from any country and region, including "from gaza, lebanon, yemen, iraq and syria - and, of course, from iran itself."

this week, international oil prices surged sharply due to news that israel plans to respond to iran's missile attacks and may retaliate against strategic targets such as iranian oil facilities. another senior u.s. official said that israel has not assured the biden administration that it will not attack iran's nuclear facilities.

u.s. stocks will enter the q3 earnings season, and financial giants such as jpmorgan chase, wells fargo, and blackrock are scheduled to release performance reports next week. prior to this, the financial reports of pepsico and domino's pizza are also worthy of attention. the popular weight loss drugs in recent years may have a profound impact on the food industry.

next friday (october 11th), beijing time, tesla will hold a robotaxi (unmanned taxi) conference and will also showcase its dedicated platform for driverless cars that it plans to release in the next few years. musk confirmed on social media that this would be tesla's "most important moment."

also next friday, nvidia's main rival, amd, will hold "advancing ai 2024" to showcase the fifth-generation amd epyc server processor and progress on networking and ai pcs. it will also focus on ai solutions. solution ecosystem.

overview of important overseas economic events next week (beijing time):

monday (october 7): a-share market closed for national day

tuesday (october 8): minneapolis fed president neel kashkari participates in a q&a session at the bank holding company association’s fall symposium, atlanta fed president bostic speaks, and st. louis fed president musallem speeches on the economic outlook and monetary policy, the reserve bank of australia released the minutes of the september monetary policy meeting, fed governor coogler delivered a speech at a meeting hosted by the european central bank, the us nfib small business confidence index in september, the us trade balance in august

wednesday (october 9): eia releases monthly short-term energy outlook report, atlanta fed president bostic speaks on the economic outlook, boston fed president collins speaks at a community bank meeting, new zealand federal reserve announces interest rate decision and monetary policy review report, atlanta fed president bostic gave a welcome speech at an event, dallas fed president logan spoke on the current economic situation, chicago fed president goolsby gave an opening speech at the chicago payments symposium, the united states until october eia crude oil inventories for the week of 4th

thursday (october 10): richmond fed president barkin delivered a speech,federal reserve releases minutes of monetary policy meeting, boston fed president collins delivered a speech, san francisco fed president daly delivered a speech,u.s. cpi annual rate not seasonally adjusted in september, richmond fed president barkin participated in a fireside chat, and new york fed president williams delivered a speech and participated in discussions on economic prospects and monetary policy.

friday (october 11): the bank of korea announced its interest rate decision, the annual u.s. ppi rate in september, chicago fed president goolsby and fed governor bowman attended the 18th annual community bankers symposium, and dallas fed president logan attended an expert panel discussion

(zhao hao, financial associated press)
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