Finance Footnotes is a quick guide of news and events to watch out for in the world of finance this week.
If you have investments or real estate, or if you trade stocks or currencies, these are some events and items to keep an eye on that could affect your money.
Here is the top finance news and events for the week of Jan. 29 – Feb. 2, 2024.
The entire week
- The ‘Magnificent Seven’ tech companies are set to report earnings this week: Alphabet Inc (aka-Google), Microsoft, Amazon, Meta, Tesla, and NVIDIA.
- January continues to be earnings season. Reports from Q4 2023 as well as 2023 annual numbers are being released. For a list, visit Yahoo Finance.
- Middle East tensions in Gaza and in the Red Sea continue to influence global trade. Many companies are diverting their ships away from the area, slowing supply chains and increasing costs.
Tuesday, January 30
- U.S. Consumer Confidence Report – 10 a.m.: Based on a survey of American households it gives a window into the economic sentiment of the average consumer.
- Chinese Manufacturing PMI (Purchasing Managers Index) Report – 8:30 p.m.: Given the massive place that manufacturing plays in the Chinese economy and in global trade, the Purchasing Managers Index report is a window into the overall health of industry and trade for all Chinese interests.
Wednesday, January 31
- German Consumer Price Index Data – all day: Data comes in from six areas throughout the day. One of the European Union’s biggest economies, the German consumer price data is a major indicator of inflation. European based investments and currencies will watch this for major changes.
- Canadian GDP month over month – 8:30 a.m.: A high level picture of overall economic health. Has the potential to affect the Canadian dollar, government bonds, and Canadian-based investments.
- U.S. FOMC Rate & Policy Statement – 2 p.m.: This is not the main interest rate set by the Federal Reserve. It is the rate set for inter-depository institution lending. A possible signal towards sentiment for upcoming overall interest rate decisions.
Thursday, February 1
- UK Bank of England Monetary Policy Report & Bank Rate – 7 a.m.: A slew of data is released from the BoE relating to their approach to interest rates, including the vote counts which shed some insight into overall sentiment, and overall policy towards the current economic challenges for England and Europe
- U.S. Unemployment Claims 7 a.m.: A preview to the following day’s jobs numbers. Not as important as the Non-Farm Payroll data, but certainly a related and important indicator.
Friday, February 2
- U.S. Hourly Earnings – 8:30 a.m.: Coupled with the Non-Farm Payroll numbers, this shows not only the change in wages paid, but is a leading indicator of inflation – a big concern around the world in recent times.
- U.S. Non-Farm Employment Rate – 8:30 a.m.: One of the biggest data releases each month, released on the first Friday of each month. This data shows the change in employment month over month. A very strong indicator of economic health and often a market mover.
- U.S. Unemployment Rate – 8:30 a.m.: Less important than the payroll numbers, this is also an important factor in overall economic health for obvious reasons.
This post is for informational purposes only and is not financial advice. All times indicated are in Eastern Standard Time (EST).
Check out last week’s Finance Footnotes to see what you missed.
Photo by Burak The Weekender