Thursday preview: ECB, Amazon in focus
The market spotlight on Thursday would be on the European Central Bank.
Amazon.Com Inc.
$197.82
06:20 05/11/24
Nasdaq 100
20,179.08
06:20 05/11/24
At 1315 BST, rate-setters in Frankfurt were expected to announce that they kept rates steady at 4.5%.
However, what would matter most is what ECB chief, Christine Lagarde, had to say her in her press conference afterwards, starting from 1345 BST.
In between, at 1330 BST the Department of Commerce was scheduled to publish a preliminary estimate for third quarter domestic product growth.
Consensus was for a pick up in the pace of economic activity to a quarterly annualised clip of 4.3%, after growth of 2.1% over the preceding three months.
Also due out in parallel were readings for weekly jobless claims, alongside readings on durable goods orders and international trade in September.
On the corporate side of things, US online retailer Amazon was scheduled to post its third quarter financials.
The company had guided towards quarterly sales of between $138-143bn with analysts having penciled in earnings per share of US 58 cents.
"Investors will be looking for revenue growth in both online stores as well as AWS which is expected to see revenues increase to $23.2bn. Recent numbers would appear to suggest that Amazon has managed to bounce back from a disappointing 2022 when it reported significant losses, prompting significant cost cutting measures as well as headcount reduction," said Michael Hewson, chief market analyst at CMC Markets UK.
"Looking ahead to Q4 Amazon is likely to face challenges from a consumer slowdown, while the business is also looking to the future having invested up to $4bn in AI startup Anthropic."
Thursday 26 October
INTERIMS
Bloomsbury Publishing, e-Therapeutics, C&C Group (CDI), HarbourVest Global Private Equity Limited A Shs
Q3
PPHE Hotel Group Ltd
TRADING ANNOUNCEMENTS
WPP, Inchcape
AGMs
Brooks Macdonald Group, Mattioli Woods, Novacyt S.A. (CDI), Filtronic
Feedback, Alumasc Group, Mid Wynd International Inv Trust, Hipgnosis Songs Fund Limited NPV, South32 Limited (DI), TMT Acquisition, Made Tech Group
Global Invacom Group Limited (DI)
EGMs
Hipgnosis Songs Fund Limited NPV
GMs
Air China Ltd.
FINAL EX-DIVIDEND DATE
JPMorgan UK Smaller Companies Investment Trust, Dunelm Group, MJ Gleeson, Mulberry Group, Pacific Horizon Inv Trust, Sylvania Platinum Ltd (DI), Asia Dragon Trust, Thorpe (F.W.), Avingtrans
FINAL DIVIDEND PAYMENT DATE
Miton UK Microcap Trust
INTERIM EX-DIVIDEND DATE
Bankers Inv Trust, Pembroke Vct B, Morgan Advanced Materials, Serica Energy, Aew UK Reit, Abrdn New Dawn Investment Trust, Headlam Group, Abrdn Asian Income Fund Limited NPV, Ecofin Global Utilities and Infrastructure Trust, CQS Natural Resources Growth and Income, Henderson Far East Income Ltd., CQS New City High Yield Fund Limited, JPMorgan Global Core Real Assets Limited, Balfour Beatty, Sequoia Economic Infrastructure Income Fund Limited
INTERIM DIVIDEND PAYMENT DATE
Morgan Sindall Group, Smart Metering Systems, Trinity Exploration & Production
SPECIAL EX-DIVIDEND DATE
B.P. Marsh & Partners
QUARTERLY EX-DIVIDEND DATE
Tufton Oceanic Assets Limited NPV, Brunner Inv Trust, City of London Inv Trust, Custodian Property Income Reit, JPMorgan Claverhouse Inv Trust
QUARTERLY PAYMENT DATE
Law Debenture Corp.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
ECB Interest Rate (EU) (13:15)
Continuing Claims (US) (13:30)
Durable Goods Orders (US) (13:30)
GDP (Preliminary) (US) (13:30)
Initial Jobless Claims (US) (13:30)
Pending Homes Sales (US) (15:00)