Markets Week Ahead: Neuren trial results loom large, Nike earnings on watch
Rene Anthony
Economic Calendar and News
This week’s economic focus includes the Reserve Bank of Australia’s December Board meeting minutes set for release on Tuesday. Although it’s not anticipated to reveal significant insight into the bank’s rate hike campaign, the publication will be pored over to deduce whether the rate-hike campaign has finished. Later in the week, attention will turn to private sector credit data.
Internationally, the United States will be under the economic spotlight with key indicators such as building permits, housing starts, existing home sales, corporate profits, and the crucial PCE Price Index, where annual inflation is expected to have marginally decreased to 2.9%. From the United Kingdom, fresh inflation figures and a final GDP reading will provide additional global economic insights.
Stocks on Watch
These are the stocks that may capture the market’s attention this week:
Neuren Pharmaceuticals (ASX: NEU) kicked off the week with results for its Phase 2 clinical trial for Phelan-McDermid syndrome. Expectations were beaten, and company CEO, Jon Pilcher, said, “The strength and consistency of these results have exceeded our expectations, giving us high confidence as we strive to accelerate the development of a potential first therapy for PMS.” Shares leapt a whopping 29% during Monday trading, and are up 49% in the last month.
ANZ (ASX: ANZ) is gearing up for its annual general meeting in Brisbane on Thursday. Key points of interest for shareholders will likely include the bank’s views on the economic landscape, its climate initiatives, and the progress of its proposed acquisition of Suncorp’s banking division.
Property platforms such as Domain Holdings (ASX: DHG) and REA Group (ASX: REA) could face scrutiny as Sydney’s preliminary auction clearance rate dipped to its lowest level this year at 65.5%, signalling potential concerns about property buying demand.
In the US, with the Santa Rally in sight, investors will closely follow earnings announcements from major companies like FedEx (NYSE: FDX), BlackBerry (NYSE: BB), and Nike (NYSE: NKE), seeking insights into their performance and future prospects.
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