March 29, 2024

Taylor Daily Press

Complete News World

Financial week: Earnings season begins in the US

Financial week: Earnings season begins in the US

Investors on the stock market in Amsterdam face a shortened trading week as European markets are closed on Easter Monday. No trading on Good Friday either. But Friday’s U.S. jobs report promises to be an important week, with more jobs still available. There will be new inflation figures from the US and quarterly earnings season will begin in New York with results from major banks.

Wall Street was closed on Friday but will open on Monday. US employment growth weakened further in March, the jobs report showed. Lately, there have been signs that the US economy is cooling, and there are even fears of a recession. As a result, the US central bank, the Federal Reserve, may be even slower to raise interest rates to tackle inflation. The central bank may stop raising interest rates.

US Inflation Statistics

Inflation data from the US for March will be announced on Wednesday. Minutes from the central bank’s most recent policy meeting will also be released, which may clarify interest rate policy. New inflation data is also rolling in across Europe, including the Netherlands.

Major US banks JPMorgan Chase, Citigroup and Wells Fargo will report quarterly results on Friday. These will be scrutinized in view of the recent turmoil in the banking sector. JPMorgan Chase, America’s largest bank, CEO Jamie Dimon recently said the crisis is over and expects a good quarter of performance for banks.

First figures on Damrock

This week, navigation service provider TomTom, pharmacy supplier Facron and charging station operator FastNet will open the books at TomRock. Also, supermarket group Ahold Delhaize will hold a shareholders’ meeting on Wednesday. The trade union FNV plans actions at the meeting to draw attention to the huge income inequality for Ahold Delhaize store workers. Milieudefensie will also stage a protest as the parent company of Albert Hein and bol.com does very little against climate change. Telecom giant KPN also holds its annual meeting.

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The Amsterdam AEX index rose 0.5 percent to close at 759.84 points on Thursday. Elsewhere in Europe, prices rose by up to 1 percent. Key indicators in New York advanced as much as 0.8 percent.

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