Upbeat music plays.
[Screen shows “Weekly Market Outlook with Jeffrey Kleintop”]
[Jeff holds up an illustration of the Canadian Flag ]
From Canada’s election, to major economic data and company earnings and a rate decision by the Bank of Japan, I’m Jeff Kleintop with 90 seconds on what you need to know for the week ahead.
On Monday, Canadians head to the polls in a vote called by new Prime Minister Carney. The election focuses on economic sovereignty and escalating trade tensions with the U.S.
Now this week is the peak week
[Jeff holds up an illustration of a mountain labelled “Peak Week”]
in the number of companies announcing Q1 earnings. On Thursday, Amazon and Apple will face scrutiny over their supply chain strategies due to the impact of Trump’s tariffs on Chinese imports. Several companies, including McDonald's, Coca-Cola, and Meta, are expected to report weaker-than-expected results, citing factors like inflation, the trade war, and consumer concerns. But it’s not all bad news, other companies, such as Visa, UPS, and Exxon, are expected to meet or exceed estimates, with some potentially raising their guidance due to factors like a weaker U.S. dollar.
And on Thursday, President Trump marks the 100th day of his second term
[Jeff holds up an illustration of a snail labelled GDP]
and U.S. first-quarter GDP data is released with preliminary forecasts pointing to weaker growth and last week’s updated GDP forecasts from the IMF suggest more weakness ahead. On a related note, this week marks the start of the drop off in port traffic import volume following the imposition of widespread U.S. import tariffs earlier this month.
And, again on Thursday, we get the Bank of Japan
[Jeff holds up an illustration of the islands of Japan imposed over a dark circle, labelled “Japan”]
rate decision. Markets expect no change to the 0.5% rate—but another rate hike may still be on the way later this year. The yen has risen about 10% against the U.S. dollar this year.
And on Friday, the monthly U.S. employment report
[Jeff holds up an illustration of an alarm clock labelled “Jobs”]
for April follows an unexpectedly strong result in March with economists expecting a slowdown to 133,000 jobs added, down from March’s 228,000. But don’t expect to hear much from the Federal Reserve members this week about it
[Jeff holds up an illustration of an index finger imposed over a pair of lips]
since we are in the communications blackout period in advance of May 7th policy meeting.
[Jeff holds up sign saying "Thank You"]
Thanks for watching.
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