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Next Week At A Glance – Jan 30-Feb 3 2023

Weekly Reports | Jan 27 2023

This story features AMCOR PLC, and other companies. For more info SHARE ANALYSIS: AMC

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

The local market (ultimately) took this week’s higher than expected CPI numbers with a grain of salt, as evidenced by the turnaround on Wednesday and opening strength this morning, with a little help from Wall Street optimism. It is thus unlikely today’s PPI numbers could cause any untoward angst.

The same can be said for tonight’s US PCE inflation release. Wall Street should be able to take a slightly disappointing (higher than expected) number in its stride, if last night’s response to a solid GDP result is anything to go by.

Yet the S&P500 is at a tenuous technical level, having last night underscored a break-up through the year-long downtrend line, and outside of economic data, ongoing earnings results still have the capacity to derail current positive sentiment.

The Fed meets next week, and will likely maintain its “more to do” mantra, on a balance of falling price inflation countered by rising wage inflation, and a still-strong economy. A 25 point hike is assumed.

It’s jobs week in the US next week, with private sector data on Wednesday night and non-farm payrolls on Friday.

Other data next week include house prices, construction spending, factory orders and the January PMIs.

The eurozone will report December quarter GDP on Tuesday.

The Bank of England meets on Thursday.

China is back to business next week, and will kick off with January PMIs on Tuesday.

Locally we’ll see numbers for private sector credit, retail sales, house prices and building approvals.

Tuesday is the last day of January, and hence the last day of resources sector quarterly reports. Then without hesitation, earnings result season begins.

From Wednesday we’ll see numbers from Amcor ((AMC)), Credit Corp ((CCP)), Centuria Industrial REIT ((CIP)), Janus Henderson ((JHG)), Pinnacle Investments ((PNI)), REA Group ((REA)) and News Corp ((NWS)).

Nufarm ((NUF)) holds its AGM.

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CHARTS

AMC CCP CIP JHG NUF NWS PNI REA

For more info SHARE ANALYSIS: AMC - AMCOR PLC

For more info SHARE ANALYSIS: CCP - CREDIT CORP GROUP LIMITED

For more info SHARE ANALYSIS: CIP - CENTURIA INDUSTRIAL REIT

For more info SHARE ANALYSIS: JHG - JANUS HENDERSON GROUP PLC

For more info SHARE ANALYSIS: NUF - NUFARM LIMITED

For more info SHARE ANALYSIS: NWS - NEWS CORPORATION

For more info SHARE ANALYSIS: REA - REA GROUP LIMITED