The first week of 2022 begins with a flurry of activity, including labor data, income reports, and the annual CES, all at stake.
Markets open after New Years weekend, after a generally excellent year where most of the major indexes registered new highs. However, Omicron and the growing cases of Covid-19 as well as inflation and central bank monetary policies remain key concerns and indicators. .
Asian markets have seen a mixed opening, shares of struggling real estate giant Evergrande reportedly on hold as the company prepares to publish “inside information”.
Meanwhile, European markets are looking to open higher, although Monday’s session could see trade thinned out as traders return from the holidays. The German DAX was 0.2% higher; while the French CAC 40 climbed 0.8% as trade rallied from the higher close last year.
However, the pan-European Stoxx 600 index changed little at the start of the session on Monday.
As markets are expected to rise these first few days of the year, here’s what to watch for this week:
The week kicks off with plenty of economic data, including the manufacturing PMI and construction spending forecast for Monday.
There will also be December jobs data, due later in the week, with investors likely to be interested in the details of the FOMC’s minutes of the December 15 meeting. The minutes will be released on Wednesday and investor attention will focus on the Federal Reserve’s decisions regarding interest rate hikes in 2022.
This week will also see CES (Consumer Electronics Show) taking place in Las Vegas, albeit with a much smaller in-person presence and exposures due to an increase in Covid-19 cases.
Some of the main topics of discussion at this year’s event include electric vehicles, new digital health trends, the hot topic of the metaverse, and new display tech from industry giants Samsung and LG. . Non-fungible token (NFT) technology will also feature prominently at CES 2022, with a highlight being the 11:11 Media Paris Hilton CEO’s NFT discussion scheduled for Wednesday.
Big tech companies are expected to be among Facebook’s (FB) parent platforms, Amazon (AMZN), Microsoft (MSFT) and Google Alphabet (GOOGL).
Chipmaker Advanced Micro Devices (AMD), whose acquisition of Xilinx (XLNX) was blocked in December, will also appear at CES 2022. The company is expected to launch the latest products in processors and graphics cards.
Investors might also be interested in companies such as General Motors (GM) and Abbott Labs (ABT), which will seek to exhibit an electric van and digital health technology, respectively.
CES 2022 will officially take place January 5-7.
Main gains this week
Several companies are expected to release their quarterly results this week.
Smart Global Holdings (SGH) will release its first quarter earnings report on Tuesday, January 4. Acuity will report its first quarter tax results on Friday, with revenue and EPS expected to rise sharply.
Simply Good Foods (SMPL) is expected to release its first quarter results on January 5. Consensus estimates see the nutritional food maker rise 15% to $ 265, while earnings per share are expected to jump 17% to $ 0.34 per share.
Walgreens Boots Alliance (WBA) reports its first quarter results on January 6, the same day Bed Bath and Beyond (BBBY) also reports its third quarter results. Both companies publish earnings reports before the markets open.
Jefferies Financial Group (JEF) is also reporting its results this week, as are MillerKnoll (MLKN) and Mullen Automotive Inc. (MULN).