This Week's US Employment Report Release... ECB Interest Rate Decision Also in Focus

Amazon, ExxonMobil, Ford, GM, and Others Announce Earnings Results

[Asia Economy Reporter Kim Hyunjung] This week, the release of the US January employment report and the European Central Bank (ECB) interest rate decision are scheduled. Earnings reports from major companies such as Amazon, ExxonMobil, Ford, and General Motors (GM) will also be announced.

On the 1st, the US Manufacturing Purchasing Managers' Index (PMI), December construction spending, December job openings and turnover report, and January automobile sales will be released.

Earnings reports from major companies including Alphabet, ExxonMobil, General Motors (GM), Starbucks, and UPS will also be disclosed. According to Refinitiv, among the companies that have reported their Q4 earnings so far, 77% have posted results exceeding expectations, with their net profits surpassing analysts' average forecasts by about 4%. This is approximately 16% below the average of the past four quarters.

On the 2nd, the private employment data firm Automatic Data Processing (ADP) will release its employment report. Experts expect the US January nonfarm payrolls to increase by only 178,000, which is below December's increase of 199,000. The unemployment rate is forecasted to remain steady at 3.9%, the same as the previous month. Additionally, earnings reports from Qualcomm, Sony, and Spotify are scheduled to be released.

On the 3rd, the European Central Bank (ECB) interest rate decision is also anticipated. The ECB is expected to pursue tightening measures this year. Earnings reports from Amazon, Merck, Honeywell, Ford, Eli Lilly, and Royal Dutch Shell will also be announced on this day.

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