Next Week At A Glance – 5-9 Sep 2022

Weekly Reports | Sep 02 2022

For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.

By Greg Peel

Before this week, a net positive response to the local August result season was providing support for the local market against a tide of sentiment on Wall Street, but all that fell apart on Monday. Yesterday was a disastrous start to September, exacerbated by big ex-dividends.

Next week, with result season now wrapped, the flow of daily ex-dividends only grows larger. Indeed by number of companies it is the busiest week in the ex-div season. This means beginning every session with an ASX200 handicap.

Attention also swings squarely back to the economy next week.

Following weak June quarter construction work done data on Wednesday, yesterday saw private sector capex spending in the quarter fall -0.3%. However, capex rose 13.3% in FY22, to above pre-pandemic levels, and capex intentions for FY23 have risen 12.0% since the March quarter.

These components feed into the GDP result, which is due next Wednesday, following further data for corporate profits and inventories on Monday and the current account on Tuesday.

We’ll also see monthly numbers for job ads and trade, and on Tuesday the RBA meets, with another 50 point hike widely expected.

It’s the Labor Day long weekend in the US this weekend so markets are closed on Monday night. The weekend signals the end of summer, so it’s back to work next week (and improved Wall Street volumes).

Tonight brings the US August jobs numbers.

China will report trade and inflation data next week.

OPEC-Plus meets on Monday night to discuss production cuts.

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