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The US equity markets recently reacted to weaker-than-expected numbers, with the Nasdaq Composite Index rallying by 1.99% on Friday (May 3). The Dow and the S&P 500 also saw gains of 1.18% and 1.26%, respectively. These moves in the US economic indicators and equity markets are set to influence the upcoming Asian session on Monday.
In our exclusive Asian Economic Calendar segment, we highlight the key events to watch out for on Monday (May 6). Economic indicators from Australia and China could have a significant impact on buyer appetite for ASX 200 and Hang Seng Index-listed stocks.
Investors will be closely watching the ANZ-Indeed Job Ad numbers for April, as better-than-expected figures may lead to speculation about a more hawkish stance on monetary policy by the RBA. Economists are forecasting job ads to increase by 1.1% in April, following a 1.0% decline in March.
Additionally, service sector PMI numbers from China will play a crucial role in influencing market risk sentiment. Economists expect the Caixin Services PMI to decrease from 52.7 to 52.5 in April. Any surprises to the upside would indicate an improving macroeconomic environment and potentially drive demand for riskier assets.
Aside from the economic calendar, investors should also keep an eye on corporate earnings reports. Companies like Hang Seng Bank (HK0011), Westpac Banking (ASX: WBC), and Harvey Norman Holdings (ASX: HVN) are among the major players scheduled to release earnings results, which could impact their respective stock prices.
Stay tuned to Extreme Investor Network for more exclusive insights and analysis on the latest trends and developments in the stock market. Join us as we navigate the complexities of trading and provide you with the information you need to make informed investment decisions.
