Monday 7 April
- Trading statement from Ferrexpo
- Halifax UK house price index
- Japanese wage growth
- German industrial production
- EU retail sales
Tuesday 8 April
- Full-year results from Hilton Foods and Staffline
- BRC UK retail sales index
- US NFIB smaller companies survey
Wednesday 9 April
- Full-year results from Saga
- Interest rate decision from the Reserve Bank of New Zealand
- US oil inventories
- In Japan, quarterly results from Seven & i
- In the US, quarterly results from Constellation Brands and Delta Air Lines
- JD Sports Fashion full-year trading update
Thursday 10 April
- Full-year results from Brave Bison
- US inflation
- US Federal budget deficit
- US weekly initial unemployment claims
- In Japan, quarterly results from Fast Retailing
- In Asia, monthly sales figures from Taiwan Semiconductor Manufacturing (TSMC)
- In Europe, quarterly results from Barry Callebaut
- In the US, quarterly results from CarMax
- Tesco full-year results
On Thursday, leading supermarket Tesco will publish its full-year results. The company’s shares hit a multi-year high earlier in 2025, though it has fallen sharply since on fears over a price war with Asda as the latter bids to regain market share.
“Only time will tell whether such worries are legitimate or not,” Russ Mould, AJ Bell investment director, Danni Hewson, AJ Bell head of financial analysis and Dan Coatsworth, AJ Bell investment analyst, said, “but Tesco has done a good job of defending and taking market share, according to data produced by consultants Kantar.
“However, any such an attack would come at a potentially testing time, given imminent increases in the bill for wages and also national insurance contributions, so analysts and shareholders will look to chief executive Ken Murphy not just for the headlines for the year to February 2025 but any guidance for the new year to February 2026.
“Tesco upgraded its profit guidance alongside its half-year results and stuck to the newly raised bar when it released an upbeat Christmas trading update in January.”
Friday 11 April
- UK GDP growth
- UK construction, manufacturing and industrial production
- US producer price inflation
- In the US, quarterly results from Wells Fargo, Morgan Stanley, BlackRock, Bank of New York Mellon and Fastenal
- JPMorgan Chase first-quarter results
JPMorgan Chase will reveal its first-quarter results, following a turbulent quarter for the S&P 500. Markets have tumbled in recent days on the back of the ‘Liberation Day’ tariffs announcement.
“After two straight years of 20%-plus capital gains, the S&P 500 may be catching many investors on the hop with its sluggish first-quarter performance in 2025, with a loss of nearly 5%, the AJ Bell trio said.
“The last two years of bumper gains, enthusiasm for all things related to AI and a fresh surge in the so-called Magnificent Seven mean that 2022’s poor year seems forgotten, even if the recession worries and relative weak corporate profits growth that accompanied them could carry some interest parallels with today, given the uncertainty over what Trump, tariffs and trade could mean for the US economy and company earnings in 2025.”
They added that it seems fair to say that JPMorgan Chase is likely to be a “pretty good bellwether” for the US economy and events on Wall Street.
“The shares hit a new all-time high in February and are now trying to rally, so analysts and investors will be looking for reassurance from a strong set of numbers from chair and chief executive Jamie Dimon.”
“The first number to watch will be the headline earnings per share figure. The consensus forecast is $4.57, up from $4.44 a year ago, helped by the lower share count that results from the bank’s substantial share buybacks.
“Analysts will then look at a number of other key figures, and for any guidance, so they can shape estimates for the second quarter and beyond. The current Q2 consensus is $4.53 compared to $6.12 in the April-to-June period in 2024.”