- Australia’s investor sentiment was higher on the last trading day of previous week on easing COVID-19 lockdowns in most of Victoria.
- On Friday, the benchmark ASX 200 index rose 0.5% to end at 7,406.6 points.
- On Wall Street, the Dow Jones fell 0.8%, the S&P 500 dropped 0.8%, and the NASDAQ tumbled 0.9% on Friday.
Australian shares opened lower on Monday, mainly weighed by losses in prominent mining and gold stocks due to weaker commodity prices. On Friday, the benchmark ASX 200 index rose 0.5% to end at 7,406.6 points but recorded its first weekly loss in three weeks. Investor sentiment was higher on the last trading day of previous week on easing COVID-19 lockdowns in most of Victoria.
Meanwhile, on Wall Street, the Dow Jones fell 0.8%, the S&P 500 dropped 0.8%, and the NASDAQ tumbled 0.9% on Friday. Benchmark US indices closed lower after the latest economic data showed inflation rose marginally in August.
Australian investors would be keeping a close tab on both domestic and global developments throughout the week, especially on the evolving scenario of the coronavirus pandemic and the economic recovery.
Here are five things that investors should watch out for this week:
Australia’s economic data
The Australian Bureau of Statistics (ABS) is scheduled to release some key economic data this week. It includes data on
- Overseas arrivals and departures in July (Tuesday).
- Residential property price indices of eight capital cities for June (Tuesday).
- Labour Force data for August (Thursday).
- Quarterly tourism labour statistics data for June (Friday).
Source: Copyright ©Shimanovichs | Megapixl.com
Several ASX-listed firms are scheduled to go ex-dividend this week. Chorus Ltd, Healius Ltd, and HUB24 Ltd are going ex-dividend on Monday. Here is a list of stocks that will go ex-dividend this week:
Source: Respective ASX-listed company reports
US inflation data
The US would be releasing its consumer price inflation data on Tuesday. Even as prices increases slowed in July, they remained at a 13-year high. Thus, inflation is expected to guide both US and global stocks going ahead as elevated figures could force the US Federal Reserve to withdraw emergency stimulus measures.
Investors would also be awaiting retail sales data, which are expected to fall for a second straight month. Data on industrial production and data from the University of Michigan on consumer sentiment would also be released.
China and UK data
China is scheduled to release data on industrial production, retail sales and fixed asset investment on Wednesday.
The UK will release data on inflation, employment, and retail sales ahead of Bank of England’s (BoE’s) monetary policy meeting on 23 September.
Meanwhile, appearances by European Central Bank (ECB) officials (ECB Chief Economist Philip Lane and Bank of Finland Governor Olli Rehn) may throw more light on last week’s decision to scale back bond purchases.
Source: Copyright © Rosshelen | Megapixl.com
Apple’s iPhone launch
Tech stock investors would be keeping a close eye on the launch of new iPhones and other highly anticipated products this week. California-based company Apple, has already sent out invitations for an event on 14 September 2021.
Apple would announce four new iPhone 13 models this year — the iPhone 13, iPhone 13 Mini, iPhone 13 Pro, and iPhone 13 Pro Max. Apple is also expected to talk more about more devices in its line-up at the event, including the Apple Watch Series 7.
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