Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Dan Squires
Head of Sales - UK
Summary: European stocks have started the week with small moves, as markets await a week of political risks, some earnings events and inflation data, which may guide to the outlook for global interest rates. The first US presidential debates are scheduled this week, and the first round of voting in the French legislative election is set for the weekend with the CAC 40 notably now the worst performing stock index of 2024 YTD.
German IFO survey for June - a survey across 9,000 companies on the outlook for the German and Eurozone economy
Earnings from Fedex, interesting from a macro perspective because the company is plugged into the global logistics network and thus is a good barometer for economic activity.
Earnings from Micron Technology, interesting because its memory chips are used across many different consumer electronic devices.
Earnings from Nike, having had some disappointing quarters, investors will be looking for glues that the Euro Championship in football and the Olympics later in July can help on demand. Also, the first of two head-to-head debates between Biden and Trump for the 2024 campaign, is scheduled.
US PCE inflation data for May, the price gauge preferred by Fed officials
To get a head-start on the macro factors to watch out for before the week begins you can join our webinar, "The Edge", every Sunday at 7pm BST. Here’s a recording of last night’s session. And to sign up for next week, you can use this link.
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