The major economic data, events and company results for this week (1.15-1.19) are as follows:
In terms of economic data, the US retail sales data for December, the number of jobless claims as of the beginning of the week, the University of Michigan consumer confidence index; major data such as industrial value added, fixed asset investment, total retail sales of social consumer goods for January-December and December, and GDP for the full year of 2023 were released one after another.
In terms of financial events, the Davos Forum opened; the Federal Reserve released the Beige Book; the New York Federal Reserve Chairman and many other Federal Reserve officials spoke; Apple opened Vision Pro reservations, etc.
In terms of company performance, Morgan Stanley, Goldman Sachs, TSMC, etc. announced their results.
On January 15, EST, the US stock market was closed for one day due to Martin Luther King Day.
Related information:Learn about the weekly key earnings calendar in one picture(1.15-1.19)
Monday, January 15
Keywords: US stocks closed; opening of the 54th Annual Meeting of the World Economic Forum
Monday is Martin Luther King Day, and the US stock market is closed for one day. CME's precious metals and U.S. crude oil futures contract trading ended ahead of schedule at 03:30 Beijing time on the 16th, and stock index futures contract trading ended early at 02:00 Beijing time on the 16th.
It is worth noting that the 54th Annual Meeting of the World Economic Forum will be held in Davos, Switzerland starting on the 15th local time, with the theme “Rebuilding Trust”.
Tuesday, January 16
Keywords: New York Federal Reserve Manufacturing Index; Damo, Goldman Sachs release financial reports
On Tuesday, in terms of financial data, the US New York Federal Reserve Manufacturing Index will be released today. This index measures the economic health of the manufacturing industry by surveying approximately 200 manufacturers in New York State. An index above 0 indicates an improvement in the situation, and below 0 indicates a deterioration in the situation.
In terms of financial reporting, including$Morgan Stanley (MS.US)$,$Goldman Sachs (GS.US)$A number of major Wall Street banks, including others, announced financial reports.
The market expects Morgan Stanley's Q4 revenue to be US$12.961 billion, up 1.67% year on year; earnings per share of US$1.09, down 13.11% year on year.
The market expects Goldman Sachs Q4 revenue to be US$11.28 billion, up 6.5% year on year; earnings per share of US$4.97, up 49.7% year on year.
Wednesday January 17
Keywords: China's GDP per annum, total retail sales rate of social consumer goods per annum, industrial value added; US retail sales data; Federal Reserve Governor's speech
On Wednesday, today's batch of important economic data was released centrally.
On the Chinese side, at 10 a.m. Beijing time, the Information Office of the State Council will hold a press conference on the operation of the national economy. It will release major data such as industrial value added, fixed asset investment, total retail sales of social consumer goods, and GDP for the full year of 2023 for January-December and December.
Sheng Laiyun, deputy director of the National Bureau of Statistics, said earlier that as long as it grows by 4.4% or more in the fourth quarter, the expected target of about 5% for the whole year can be guaranteed; the economy will continue to recover and improve in the fourth quarter, maintaining an overall upward trend, and is very confident that the expected target of 5% for the whole year will be achieved.
On the US side, US retail sales data, known as “horror data,” will also be released at 21:30 Beijing time.
Retail sales increased 0.3% month-on-month in November, and December data is expected to show a similar growth rate. Of the past 12 months, only 3 months of data were negative, the most recent of which was in October, at -0.2%.
In addition, data such as the annual rate of the US import price index and the NAHB real estate market index will also be released today.
In terms of financial events, Federal Reserve Governor Waller will deliver a speech on economic prospects and monetary policy; Federal Reserve Governor Bowman will deliver a speech on bank capital reform.
Thursday January 18th
Keywords: number of jobless claims at the beginning of the week; Federal Reserve Beige Book; New York Federal Reserve Chairman and Atlanta Federal Reserve Chairman speeches; TSMC financial report
On Thursday, in terms of economic data, the number of US jobless claims for the week ending January 13 will be announced today.
The number of jobless claims at the beginning of the week ending January 6 was 202,000, the lowest level since mid-October last year, below market expectations of 209,000 and 203,000 after the previous week's correction.
In terms of financial events, the Federal Reserve will release a Beige Book on the state of the economy.
The Beige Book is a report on the current state of the economy in each of the 12 US Federal Reserve regions, showing the economic trends and challenges facing the US. The report is published eight times a year, two weeks before the FOMC meeting.
The Beige Book released on November 29 last year shows that in the six weeks up to November 7, economic activity in the US has generally slowed, and the economic outlook has declined; consumer spending has declined because they are more sensitive to prices; demand in the talent market continues to slow, but market supply is tight. In terms of prices, price increases in the Federal Reserve have generally slowed, and the moderate upward trend is expected to continue until 2024.
Today, FOMC Permanent Voting Committee and New York Federal Reserve Chairman Williams delivered a speech at an event hosted by the Federal Reserve; in 2024, FOMC and Atlanta Federal Reserve Chairman Bostic delivered speeches on economic prospects. Investors should pay close attention to their statements on topics such as interest rates, interest rate cuts, and the economic situation.
Additionally, the IEA will release its monthly crude oil market report today.
In terms of financial reports, January 18, Beijing time, chip manufacturing giants$Taiwan Semiconductor (TSM.US)$Financial reports will be released.
On January 10, TSMC released data showing that revenue for December 2023 was NT$176.3 billion (US$5.7 billion), down 8.4% year on year; revenue for the fourth quarter reached NT$625.5 billion (US$20.8 billion), exceeding analysts' expectations of NT$616.2 billion (US$19.7 billion), which is the same as the same period last year. For the full year of 2023, TSMC achieved revenue of NT$2.16 trillion (US$69.38 billion), a year-on-year decrease of 4.5%.
According to media analysis, TSMC's revenue for the fourth quarter exceeded expectations, mainly due to AI development's demand for chips, which to a certain extent offset the decline in demand for chips in consumer electronics such as smartphones and laptops.
Friday January 19
Keywords: Apple Vision Pro starts pre-sale; University of Michigan Consumer Confidence Index; Atlanta Federal Reserve Chairman's speech
On Friday, in terms of economic data, data such as the US University of Michigan Consumer Confidence Index (preliminary value), current week EIA crude oil inventory, and one-year inflation rate expectations will be released today. Japan's core CPI annual rate will also be announced on the same day.
The University of Michigan Consumer Confidence Index is an indicator that measures the level of consumer confidence in economic activity. It's a leading indicator that predicts consumer spending. The final value of the University of Michigan's consumer confidence index for December was 69.7, which was higher than the initial value and market expectations of 69.4.
$Apple (AAPL.US)$It was previously announced that its AR headset Vision Pro will be pre-ordered starting January 19 at 5 a.m. Western time and will go on sale on February 2.
A few months after launch, Vision Pro is Apple's most expensive product since the iPhone was launched more than a decade ago. It aims to occupy the augmented reality (AR) headset market dominated by Facebook's parent company Meta. The AR headset starts at $3,499, which is more than three times more expensive than the most expensive headset in the Meta series of hybrid and virtual reality devices. The device uses a new chip called R1, which is capable of processing information from sensors in a very short time. The headset will have 256GB of storage, and the device's prescription lens plug-in will be on sale starting at $149. Reading lens inserts start at $99.
Good luck with your investments in the new week!
Editor/Jeffrey