Wall Street week ahead: Tech stocks in focus after tariff exemption on consumer electronics, investors eye economic data | Stock Market News
Source: Live Mint
After wild swings in recent trading sessions on Wall Street and global markets, driven by the chaos of US President Donald Trump’s multi-front trade war, investors in the week ahead will closely track the economic developments.
The United States and China’sescalating tariff battle has raised fears of an enduring trade war between the world’s two largest economies.
On Wednesday, Trump had announced a 90-day pause on sweeping tariffs, affecting more than 75 nations, while ramping uplevies on China to 125% from 104%.
The week ahead will see the release of economic data including, retail sales, industrial production, Export and Import Price Index, and business inventories.
In earnings calendar, big companies such as Goldman Sachs, J&J, Bank of America, Citigroup, United Airlines, and Abbott Labs are slated to report first quarter results in the week.
Tech Stocks in Focus
Shares of technology companies will be in focus as the Trump administration has exempted a raft of consumer electronics from its punishing import tariffs.
Late Friday, a statement by the US Customs and Border Protection office said smartphones, laptops, memory chips and other products would be excluded from the global levies President Trump had imposed a week ago.
Economic Calendar
On April 15 (Tuesday), separate reports on Import Price Index for March and Empire State manufacturing survey for April will be released.
On April 16 (Wednesday), separate reports on US retail sales for March, industrial production for March, capacity utilization for March, business inventories for February, and Home Builder Confidence index for April will be unveiled.
On April 17 (Thursday), initial jobless claims for the week ended April 12, housing starts for March, building permits for March, and Philadelphia Fed manufacturing survey for April will be released.
Earnings
Following companies are due to report first quarter earnings in the week ahead — Goldman Sachs, FB Financial, J&J, Bank of America, Citigroup, United Airlines, Abbott Labs, Kinder Morgan, Taiwan Semiconductor, UnitedHealth, Blackstone, and KeyCorp.
Markets Last Week
US stock indices posted solid gains on Friday as big banks kicked off first quarter earnings season.
The Dow Jones Industrial Average rose 619.05 points, or 1.56%, to 40,212.71, the S&P 500 gained 95.31 points, or 1.81%, to 5,363.36 and the Nasdaq Composite gained 337.15 points, or 2.06%, to 16,724.46.
All the three major benchmarks ended the session sharply higher after assurances from Boston Federal Reserve President Susan Collins that the Fed is prepared to keep financial markets functioning should the need arise.
