FTSE 100: The outside day on Friday suggests that some consolidation could filter into the market. However, as long as the FTSE remains above support at 5,000 any weakness should be short-lived.

This week attention will focus again on corporate news with the US earnings season picking up. During the week, 13 Dow Jones companies and 135 S&P 500 companies are due to report. We have Apple due to report today, whilst later in the week bellweather’s such as Texas Instruments, Caterpillar and Wells Fargo are also due out. Fridays, earnings from GE and Bank of America reminded investors that not all companies will report good news and the sentiment of the equity market will be driven daily by these releases. Saying this, the underlying trend for the earnings season still remains positive and this should continue to fuel the overall underlying momentum of the stock markets, going forward.

Of more interest, from the economic standpoint, will be Bernanke speeches today and on Friday. Whilst this week, economic data’s main focus is on housing data coupled with the Beige book, Conference Board leading indicator and PPI reports.

In the UK, economic news becomes a focal point from Wednesday onwards, with the MPC minutes, Thursday sees the release of retail sales whilst on Friday advance Q3 GDP report is expected to show the first quarter of positive growth since Q1 2008. In the rest of Europe, advance manufacturing and service sector PMI’s due out on Friday is the key release. Although, business surveys from France and Germany’s IFO survey on Friday will also garner interest.

In Asia, it is also a big week particularly for Chinese data, with GDP, CPI and Industrial production reports all due out on Thursday. The Chinese stock market rose 2.2% last week boosted by the news that exports declined at their slowest pace in nine months.

Sources: Reuters: BBC: Bloomberg: Lawshare: Deutsche Bank (db): Proquote: Financial Times: Wall Street Journal: CLSA: Sharescope: Market News. Capital Economics: CNBC: Wikipedia:

Please note this report provides a guide to some of the relevant areas that individual investors should consider discussing with an authorised adviser in relation to their specific circumstances, it does not constitute individual advice. As a result no action should be taken or refrained from being taken as a result of its content.