Elections, central banks and earnings on the menu
SPY•Wall Street futures and most Asian markets were slightly lower as investors looked ahead to central bank decisions and earnings from major US technology companies. Brent crude rose more than 6% last week, while markets expect rate hikes in Canada and New Zealand and no change from the Federal Reserve, Bank of Japan or European Central Bank.
1. Markets and energy
Wall Street futures and most of Asia were slightly lower. Oil prices eased, while Brent futures had risen more than 6% last week to their highest weekly close since mid-2022, after Houthi attacks in Saudi Arabia stoked energy supply concerns.
2. Central banks and earnings
Central banks meeting this week are likely to sound hawkish, with markets wagering on rate hikes in Canada and New Zealand and expecting the Federal Reserve, Bank of Japan and European Central Bank to hold rates steady. Alphabet, Microsoft and Amazon are among the major companies reporting; consensus estimates put their revenues at $128 billion, $90.6 billion and $202 billion, respectively.
3. Other reports to watch
Intel and Sandisk results could influence the AI trade. In Asia, SK Hynix and Samsung Electronics report this week, and SK Hynix said it will announce shareholder return measures on Wednesday.
