Tuesday's Market Minute: Earnings, Ecodata & Central Bank Policies

Looks like we could be in for a busy week ahead! With a light schedule in terms of economic data, focus primarily will be on companies set to report quarterly results as well as central bank policy decisions. The Bank of Japan has already set the stage overnight, announcing its decision to leave rates unchanged at -0.10%.

The Japanese Yen rallied on the news but remains close to multi-month lows with strong risk-on sentiment for global equities and domestic economic struggles weighing on the currency. The BOJ was clear in their statement: “The current easy monetary policy bias will be sustained for some time.” The Bank of Canada meets tomorrow and the European Central Bank on Thursday, with both expected to leave rates unchanged.

In terms of ecodata, it’s mostly housing and manufacturing, but with earnings season in full swing, look for the focus on tech to dominate. Keep an eye this week on the Nasdaq with Netflix Inc NFLX, Tesla Inc TSLA, Paypal Holdings Inc PYPL, Microsoft Corporation MSFT, Intel Corporation INTC, and others reporting. The new all-time highs we saw last week after the move above 9K and its ability to hold above it will be watched closely. It’s not just the Nasdaq though – keep an eye S&P 500 and the Dow also in a well-defined trend up and into new all-time highs last week. Stay tuned to the TD Ameritrade network for coverage of all the breaking news and market commentary!

Image by David Mark from Pixabay