Global equity markets settled higher last week after cooling inflation reports raised hopes of an end to interest rate hikes. Moving ahead, with a shorter week with the market being closed on Thursday and a half-day on Friday for Thanksgiving. However, before the Thanksgiving holidays, some intriguing US data is scheduled to be published. Minutes from the latest November 1 FOMC meeting will be released on Tuesday.
The new trading week has started off fairly quietly in terms of price action as the macroeconomic calendar is completely empty at the beginning of the week, but the volatility is expected to increase from Tuesday onwards when we get global PMI readings. Attention this week will be on planned central bank meetings and US PCE inflation numbers.
Global equity markets started the new week slightly higher after Israel, the United States and Egypt agreed to a ceasefire in southern Gaza, say Egyptian sources. For this week, the main drivers for the markets remain the speeches from the Fed and ECB policymakers and the ongoing conflict between Israel and Palestine.
Snack and beverage maker PepsiCo Inc. (NASDAQ: PEP) stock gained almost 2% in pre-market trading on Tuesday after the company reported upbeat third-quarter financial results.
Global markets started the new week on a nervous note due to escalating tensions in the Middle East. Moving ahead, the markets have a lot of economic data to digest this week and the main highlights of the economic calendar. On the other hand, investors await the next round of earnings results. Q3 Earnings season kicks off this week and all eyes are on the largest U.S. financial institutions.