Bank of China

Key events: Japan - GDP (QoQ) (Q1) Wall Street stocks finished the week slightly lower on Friday following a session of volatile trading. A stronger-than-expected US jobs report indicated a robust economy but raised concerns that the Federal Reserve might delay cutting interest rates longer than investors had hoped. According to the Labor Department, the US economy added approximately 272,000 jobs in May, significantly surpassing the 185,000 forecast by analysts. Despite the job growth, the unemployment rate edged up to 4%.

Key events: USA - Core PCE Price Index (MoM) (Dec) USA - Core PCE Price Index (YoY) (Dec) The S&P 500 achieved consecutive record closes for the fifth day, with positive corporate earnings and optimistic economic growth offsetting concerns about inflation, leading to a decline in Treasury yields. The Dow Jones Industrial Average rose by 242 points (0.6%), while the S&P 500 reached a record of 4,894.92, closing 0.5% higher. The Nasdaq Composite also ended 0.2% higher.

In recent decades, China's economic ascent has been nothing short of extraordinary. What was once a struggling third-world economy has blossomed into the world's second-largest, following closely behind the United States. Simultaneously, China has secured its place as the foremost global buyer of vital commodities like crude oil and copper. These profound shifts have irrevocably positioned the Chinese economy as an indispensable focal point for traders and investors across the globe.

Key events: USA - Existing Home Sales (Oct) USA - Existing Home Sales USA - FOMC Meeting Minutes During Monday's evening trading, US stock futures exhibited limited movement, maintaining a narrow range after modest gains in major benchmark indices. Lower yields contributed to the positive performance of tech giants, setting the stage for Nvidia's crucial earnings session later in the day. Dow Jones Futures and S&P 500 Futures showed little change, while Nasdaq 100 Futures edged up by 0.1%.

Key events: USA - Initial Jobless Claims USA - Philadelphia Fed Manufacturing Index (Oct) USA - Existing Home Sales (Sep) USA - Fed Chair Powell Speaks USA - FOMC Member Bostic Speaks The Dow closed in negative territory on Wednesday as Nvidia continued to put pressure on the tech sector for a second consecutive day while rising Treasury yields added to the downward pressure on stocks.

Key events: USA - Core CPI (MoM) (Jul)   USA - CPI (YoY) (Jul)   USA - CPI (MoM) (Jul)   USA - Initial Jobless Claims Stock futures climbed during overnight trading on Wednesday, building on slight upswings seen in major benchmark indices. Investors were attentively tracking upcoming earnings reports, all the while keeping an eye on a crucial consumer price index announcement that could potentially influence the course of future interest rates.

Key events: UK - GDP (MoM) (Apr) USA - PPI (MoM) (May) USA - Crude Oil Inventories USA - FOMC Economic Projections   USA - FOMC Statement    USA - Fed Interest Rate Decision USA - FOMC Press Conference On Tuesday, the S&P 500 and Nasdaq achieved their highest closing points in 14 months. This surge was fueled by data indicating a modest increase in consumer prices in May, which raised expectations that the Federal Reserve would not raise interest rates during its meeting on Wednesday.

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Key events:         USA – Core PCE Price Index (MoM) (Jan) USA – New Home Sales (Jan) The latest GDP data from the U.S. showed that the U.S. economy grew 2.7% in Q4, not 2.9% as analysts had anticipated. Softer economic growth might have helped ease inflation and softened the Fed's hand. That didn't happen, however, as the GDP Price Index, another measure of inflation that was released along with the GDP data, showed that inflation fell in Q4, but fell much less than expected, fully reflecting the CPI and PPI data released last week.