What to look out for this week - rates, prices, growth, US big tech earnings
3⃣29 Jul, Wed night: FOMC widely expected to keep the federal funds rate unchanged at the 3.50 – 3.75% range, given that US inflation measures eased more than expected in June, while the labor market slowed but remained firm and continues to show further signs of improvement
🤖Microsoft and Meta are among the big tech companies to report earnings the same night. For the former, the market will center its focus on soaring AI infrastructure CAPEX forecasts while scrutiny remains high over Meta for its monetization and AI spending strategy (Yahoo Finance)
4⃣30 Jul, Thu night: US second quarter GDP is excepted to pick up modestly to 2.3% quarter on quarter, up from the first quarter's 2.1% expansion. The US personal consumption expenditures price index for June and real personal spending in June will provide further insight into consumer momentum over the second quarter. Both are expected to increase
🤖Amazon and Apple will report their earnings, with Amazon slated to provides updates on cloud infrastructure pricing and AI capacity rent while Tim Cook will be doing his final earnings call for Apple, providing hardware and service revenue updates (Yahoo Finance)
5⃣31 Jul, Fri morning: the Bank of Japan's Monetary Policy Decision will be announced, with the market currently pricing no chance of a hike, and is instead pricing for the next hike to happen in October. Japan's June unemployment rate will also be published
In China, the NBS Manufacturing PMI is expected to ease seasonally from 50.3 in June to 50.1 in July
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