Key takeaways:

• This week sees earnings reports from major names such as Microsoft, Alphabet, Meta, and Amazon, with fresh inflation data also on the cards 

Economic Calendar and News:

This week teems with pivotal economic events. A standout for local investors is Wednesday’s third-quarter CPI data release. With petrol prices climbing, an annual inflation rate of 5.3% is anticipated, rising by 1.1% from the previous quarter.

Additionally, the newly appointed RBA Governor, Michele Bullock, isn’t wasting any time. She’ll be sharing insights at the Commonwealth Bank of Australia Global Markets Conference and later, engaging with the Senate Economics Legislation Committee.

Internationally, the U.S. isn’t lagging. The third-quarter US GDP data is on the horizon, with a promising projection of 4.2% growth. As the week progresses, all eyes will be on the Personal Consumption Expenditures (PCE) Index from the US. A yearly rise of 3.4% for September, bolstered by a 3.7% increase in core goods and services, is the current forecast.

Wrapping up the international outlook, the European Central Bank convenes this week. Yet, insiders hint that further rate hikes might be off the table for now.

Stocks on Watch:

The stock landscape is looking turbulent. Recent news suggests China might reconsider tariffs on Australian wine exports. If this materialises, (ASX: TWE) could see a renaissance in the Chinese market.

In the tech domain, heavyweights like (NASDAQ: MSFT), (NASDAQ: GOOGL), (NASDAQ: META), and (NASDAQ: AMZN) are gearing up for their report releases, with cloud computing and advertising metrics being the talk of the town.

Amid the AGM season frenzy, companies like (ASX: ANN), (ASX: BEN), (ASX: APA), (ASX: S32), (ASX: WES), (ASX: WHC), and (ASX: WOW) are poised to potentially drop trading updates. Meanwhile, with iron ore prices in flux, (ASX: FMG) preps for its quarterly production report, set for Thursday’s release.