Week ahead 8/1/24: US earnings UK GDP

Fourth quarter earnings will be interesting as it will give an insight into how much damage high rates have caused the global economy. There is already a lot of anecdotal evidence to suggest that the consumer is having to row back on most discretionary spending, but how far this has eaten into corporate earnings will remain to be seen. This next week heralds the start of the earnings season for the back end of 2023 with US banks. Additionally there is monthly GDP, for November, in the UK which may go some way to confirm if the economy has tipped into recession in Q4. There is also US consumer price inflation. Fears are that the Fed’s job is still far from done, will this number confirm that or will the way be cleared for the Fed to begin cutting the Federal Funds Rate?  Any opinion, news, research, analysis, or other information does not constitute investment or trading advice. Follow us on Twitter, Instagram, and YouTube