The Week Ahead: Earnings, ECB Meeting, Davos, U.S. Inauguration Coming Up

Corporate earnings season heats up this week with attention shifting to Europe later in the week due to a monetary policy meeting from the European Central Bank on Thursday and the Annual World Economic Forum is meeting in Davos-Klosters, Switzerland from January 17- 20th that will see Chinese President Xi Jinping attending this year along with a host of international business leaders, politicians, and celebrities.

Climate change will one of the discussed topics which comes at a time when President elect Trump won’t be sending a delegation and has pledged to support the fossil fuel industry over clean energy.

Chinese President Xi Jinping was involved in ratifying the historic Paris climate agreement in early September with U.S. President Barack Obama to reduce greenhouse gasses.

China and the U.S. are the world’s two largest emitters of carbon dioxide that are responsible for an estimated 38 percent of global emissions.

Ninety- seven percent or more of actively published climate scientists agree that climate warming trends over the past century are extremely likely due to human activities.

President elect Trump has pledged to tear up the Paris agreement, the world’s first comprehensive climate agreement, that aims to hold the increase in the global average temperature to well below 2 degrees C above pre-industrial levels while attempting to limit the temperature increase to 1.5 degrees C above pre-industrial levels to help lower the risks of climate change.

Chinese President Xi Jinping has attempted to address air pollution in China, which is causing public health issues across several cities in northern China, by stressing the importance of clean energy use even though coal remains a major energy source to heat buildings.

The Week Ahead

This week is a shortened trading week in the U.S. due to the markets being closed in observance of Martin Luther King Jr. Day on Monday.

Investors will be paying attention to the outcome of ECB’s January policy meeting on Thursday and press conference from ECB President Mario Draghi.

Trump will be inaugurated on Friday January 20th when the economic forum in Davos Switzerland wraps up.

Earnings season will heat up this week with Morgan Stanley reporting on Tuesday, Citigroup on Wednesday along with Goldman Sachs, Kinder Morgan, U.S. Bancorp, and Netflix.

On Thursday American Express, and Alaska Air Group reports.

The U.S. economic calendar is relatively light this week.

An inflation report, CPI, comes into focus on Wednesday (Dec.) alongside Industrial Production/Capacity Utilization (Dec.), NAHB Housing Market Index (Jan), Fed’s Beige Book (January), Net Long Term Tic Flows (Jan.).

Housing Starts and Building Permits (December) are reported on Thursday.

Full Calendar

Monday- Closed

Tuesday- Empire Manufacturing (Jan.)

Wednesday- inflation report with CPI (Dec.), Industrial Production/Capacity Utilization (Dec.), NAHB Housing Market Index (Jan), Fed’s Beige Book (January), Net Long Term Tic Flows (Jan.).

Thursday- ECB rate decision/press conference, Initial and Continuing Claims, Housing Starts and Building Permits (December), Philadelphia Fed (Jan.), Natural Gas, Crude Oil Inventories.

Written By:

Johnathan Schweitzer







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