Investors are heading into a busy stock market week, with many quarterly results from large companies. In Amsterdam, Philips, KPN, ING and Shell, among others, will present the data and in Wall Street, Apple, Google’s parent company Alphabet, Amazon and Facebook owner Meta Platforms will open the books. In addition, there are important macroeconomic data and interest rate meetings from the US Federal Reserve and the European Central Bank (ECB). The Fed and the ECB are likely to raise interest rates further to deal with high inflation.
Health technology group Philips will publish its findings on Monday morning. Philips is therefore expected to announce a new round of layoffs, which could result in the loss of more than 1,000 jobs in the Netherlands. In addition, the status of the recall of sleep apnea devices will be reviewed. Telecommunications firm KPN will visit Damrak on Tuesday, followed by ING and oil and gas group Shell on Thursday.
Technology companies
Meta provides insight into Wednesday’s performance after close of trading in New York. Thursday, Alphabet, Apple and Amazon are in the running. Several major US technology companies, including Meta, Alphabet and Amazon, recently announced that they are cutting many jobs to reduce costs due to a weakening economy and advertising market. Expectations for the coming period will therefore be closely monitored by investors.
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Interest rate increase
The Fed will begin its two-day policy meeting on Tuesday. The Federal Reserve is likely to ease interest rate hikes again now that inflation in the US is cooling down. An interest rate increase of a quarter of a percentage point is expected for Wednesday. The ECB is expected to raise interest rates in the eurozone again by half a percentage point on Thursday. The UK central bank may take a similar step that day.
In the macro area, the focus will be on inflation data from the Netherlands and the Eurozone. The US government’s jobs report will also be released on Friday. This ratio also plays an important role in the Fed’s interest rate policy.
Source: BNR
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
