Market News

This week the economic calendar will bring investors the fourth quarter US GDP report, PCE price index and durable goods orders data. The main event on the calendar for monetary policy this week is the meeting of the Bank of Canada on Wednesday.

Bitcoin price extended its increase and surged above $21600 early this week, which is the highest level since September 2022. While the last 2 sessions we saw that the price of Bitcoin and other cryptocurrency pairs struggling to break new highs following the release of weak economic data added to worries about a looming recession.

The world’s largest airline by passenger capacity American Airlines (NASDAQ: AAL) stock jumped almost 25% so far this month. The company is scheduled to report its fourth-quarter earnings on Thursday, January 26.

Global stock markets started the new week on a bullish note with Chinese equities the star performer. This week, Investors and traders should shift their emphasis from inflation risks to the Q4 earnings season. The fourth quarter earnings season is expected to be strong with sectors such as banking, entertainment and airlines likely to report the latest financial results.

Shares of the sports entertainment company World Wrestling Entertainment WWE (NYSE: WWE) have risen from about $68 to as much as nearly $94 after Vince McMahon returned to WWE as executive chairman in the last 5 days.