Weekly Watch | US Jobs Report To Be Released; Tesla Set to Announce Delivery Numbers; HK Stock Market Closed on Monday and Thursday
M+ Global Updates 01/04/2024 16:42

The Weekly Calendar is set to reveal a comprehensive summary of events, economic statistics, and upcoming earnings announcements expected to impact the US and HK financial landscapes in the ensuing week.

Data and Events Outlook :

Stocks concluded an impressive first quarter and market observers are eagerly awaiting this week's jobs report to gauge whether the positive momentum will persist.

The S&P 500 $S&P 500 index SPX$ surged by more than 10% in the initial three months of the year, marking its most robust start to a year since 2019. Similarly, the Nasdaq Composite $NASDAQ IXIC$ recorded a gain of over 9%, and the Dow Jones Industrial Average $Dow Jones Industrial Average DJI$ experienced an increase of approximately 5.5% during the same period.

The forthcoming trading week's major focus will center on labor market updates. Fresh data relating to job openings and wage information will precede the highlight of the week: the release of the March jobs report on Friday. Additionally, the economic calendar includes updates on activity in the services and manufacturing sectors of the economy.

The PCE Price Index, which is the Fed's favored inflation metric and excludes energy and food, went up by 0.3% MoM in February. Fed Chair Jerome Powell described this data as aligning with what the Fed wants to see and emphasized that the job market and the economy are currently strong. This suggests that the Fed is not under pressure to cut interest rates right now.

The upcoming week will test whether this positive assessment of the economy holds true. The labor market is under scrutiny, as sustained positive data could fuel hopes that inflation will decrease to the Fed's 2% target without triggering a recession.

Projections for the March jobs report foresee an addition of 216,000 nonfarm payroll jobs and a drop in the unemployment rate to 3.8%, as reported by Bloomberg.

Additionally, due to the holidays, the Hong Kong stock market will be closed for two days. The specific schedule is as follows:

Monday: closed due to Easter, with both Southbound and Northbound trading halted.

Thursday: closed due to Ching Ming Festival, with both Southbound and Northbound trading halted.

Friday: Hong Kong stocks will open as normal, but Southbound and Northbound trading will still be closed.

On the Earnings Front:

The earnings calendar is quite light this week, with jeans maker Levi Strauss $Levi Strauss & Co. LEVI$ and Canadian technology firm BlackBerry $BlackBerry Limited BB$ among the few notable names scheduled to report their quarterly results. Investors will also be watching out for monthly production and deliveries updates from major carmakers, including a highly anticipated quarterly report from electric vehicle giant Tesla $Tesla Motors, Inc. TSLA$ .

Another important event to keep an eye out for is Walt Disney's $Walt Disney Company DIS$ annual shareholder meeting on Wednesday. The media and entertainment giant is locked in a proxy battle with Nelson Peltz's Trian Fund Management.

Further details are provided below:


HK Earnings: --

U.S. Earnings: $PVH Corp. PVH$ $Sigma Lithium Corporation Ordinary Shares SGML$


HK Earnings: $BBMG 02009.HK$

U.S. Earnings: $Paychex, Inc. PAYX$ $Allego N.V. Ordinary Share ALLG$ $Dave & Buster's Entertainment, Inc. PLAY$


HK Earnings: $ANACLE 08353.HK$

U.S. Earnings: $Acuity Brands, Inc. AYI$ $Levi Strauss & Co. LEVI$ $BlackBerry Limited BB$


HK Earnings: --

U.S. Earnings: $Lamb Weston Holdings, Inc. LW$ $ConAgra Foods, Inc. CAG$ $RPM International Inc. RPM$


HK Earnings: $AEON CREDIT 00900.HK$

U.S. Earnings: $Shell PLC SHEL$ $Ermenegildo Zegna N.V. ZGN$

There will be no new listings this week in the Hong Kong stock market.

In the US stock market, it is expected that 3 new listings will be launched this week:

Tuesday: $Massimo Group MAMO$ $Zhibao Technology ZBAO$

Wednesday: $Mobile-health Network Solutions MNDR$

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!


The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.

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