Is there anything scary about Friday the 13th?
Well, certainly not for global equity investors who have been applauding US inflation data that shows the Fed’s aggressive rate hikes are having the desired effect.
Asian stock markets rose to another seven-month high and were heading for a third straight session of gains, while the yen also hit multi-month highs.
European equities, perched at nine-month highs, are poised to open on a solid base on Friday.
On the corporate front, the Vodafone Group, which is looking for a new CEO, plans to cut several hundred jobs, most of which are at its London headquarters, to cut costs, according to the Financial Times. .
UK shoppers splurged Christmas, filling their carts with food, drink and festive clothes as they enjoyed the first COVID-free holiday season in three years, but retailers are preparing for a more 2023 difficult.
Meanwhile, the IMF is sticking to its growth outlook.
The head of the global creditor said the IMF was unlikely to cut its growth forecast to 2.7% in 2023, noting that a feared spike in oil prices had failed to materialize and global markets work remained strong.
Fed policymakers expressed relief that inflation continued to fall in December and signaled that a slowdown in rate hikes was ahead.
In Asia, Japanese government bond yields breached the new ceiling set by the central bank, the most direct challenge the market has faced in decades of ultra-loose monetary policy.
Friday is a big day for American profits. Four US banking giants are expected to report lower quarterly profits as creditors hoard reserve funds in anticipation of an economic downturn hitting investment banks.
Key developments that could influence markets on Friday: Economic data: UK Nov GDP, France, Spain Dec CPI (final), Euro zone Nov industrial production
US Economic Data: University of Michigan Sentiment Survey Jan
Rsultats amricains : Bank of America, Citigroup, JPMorgan, Wells Fargo, BlackRock et Delta Air Lines
Fed speakers: Neel Kashkari, President of the Minneapolis Fed, and Patrick Harker, President of the Philadelphia Fed.