Monday 3 May
-Manufacturing purchasing managers’ indices (PMIs) in Asia, Europe and the US
-In Europe, quarterly results from Siemens Healthineers
-In the US, quarterly results from Berkshire Hathaway, Estee Lauder, Alexion Pharmaceuticals and Vornado Realty Trust
Tuesday 4 May
-Monetary policy decision from the Reserve Bank of Australia
-UK manufacturing purchasing managers’ index (PMI)
-UK mortgage approval and consumer lending data
-UK money supply data
-US trade balance
-In Europe, quarterly results from silicon chipmaker Infineon, Ferrari, HelloFresh and Pandora
-In the US, quarterly results from Pfizer, ConocoPhillips, ActivisionBlizzard, Zillow, Xilinx, Lyft, Warner Music and Caesar’s Entertainment
Wednesday 5 May
-Full-year results from Boohoo
-First-half results from Virgin Money UK
-Trading statements from ITV, OSB and Direct Line
-Services industry purchasing managers’ indices (PMIs) in Asia, Europe and the US
-EU producer price index
-US ADP payrolls data
-US weekly oil inventory figures
-In Europe, quarterly results from Novo Nordisk and Vestas Wind Systems
-In the US, quarterly results from CostCo, Uber, General Motors, Barrick Gold and Fox
Thursday 6 May
-Barratt Developments third-quarter update
Shares in the FTSE 100 house builder are up by more than 40% over the past 12 months and trade within touching distance of the all-time highs reached in late 2006 and early 2020, said AJ Bell investment director Russ Mould and financial analyst Danni Hewson.
The government’s 95% mortgage guarantee scheme, the stamp duty land tax holiday extensions and surging house prices, which are up 8.5% year-on-year according to the Office for National Statistics, all make the timing of this update interesting.
Analysts will look for any sign of cost price inflation as the private average selling price was just short of £320,000 in the first half.
-Bank of England monetary policy decision
Economists do not expect Andrew Bailey to announce any changes, according to Hewson. The most recent change was November’s £150bn asset purchase increase, while the headline base rate has been anchored at record lows since last March.
Signs of inflation are starting to show with the consumer price index reading for March showing an increase of 0.7% year-on-year and the Bank of England’s CPIH, which includes housing costs, rose 1%, still below its 2% target.
-Full-year results from Trainline
-Trading updates from Next, Mondi, Rio Tinto and Superdry
-UK services industry purchasing managers’ indices (PMI)
-Challenger, Gray and Christmas monthly job losses survey in US
-US weekly unemployment claims
-In Japan, quarterly results from Nintendo
-In Asia, quarterly results from APAC Budweiser Brewing
-In Europe, quarterly results from ABInBev, Volkswagen, ArcelorMittal and Continental
-In the US, quarterly results from Square and Peloton
Friday 7 May
-US non-farm payrolls
March’s payrolls were stronger than expected with 916,000 jobs added as the US’s vaccination programme and lockdown easing helping, according to Mould.
Observers will be looking for revisions to the estimates for the prior two months as upward revisions occur when the US economy is gaining traction.
The Fed will be watching these numbers to help fulfil its two mandates, 2% inflation and full employment. Chair Jerome Powell has begun to reference the U6 employment rate which includes discouraged workers and those who are working part-time but want a full-time job, as well as those out of work.
Mould said that this suggests the Fed is in no hurry to raise interest rates or rein in its quantitative easing programme despite concerns that cheap-and-easy money is leading to bubbly financial markets.
-Trading statement from International Consolidated Airlines and InterContinental Hotels
-UK construction industry purchasing managers’ index (PMI)
-Chinese inflation data
-Chinese trade figures
-In Japan, quarterly results from Japan Airlines
-In Europe, quarterly results from Siemens, BMW and Adidas
-In the US, quarterly results from Liberty Broadband
