Weekly Commentary

Last week, U.S. stock indices demonstrated positive performance: the S&P 500 rose by 1.7%, and the Nasdaq gained 1.6%. The European index, EUR STOXX 50, increased by 1.4%. Meanwhile, the price of Brent crude oil fell by $2.3, closing at $78.5.

In the U.S., 80% of companies reporting Q4 earnings beat EPS expectations. This is above the 5-year average of 77% and the 10-year average of 75%. However, 62% of companies exceeded revenue expectations, which is below the 5-year average of 69% and the 10-year average of 64%.

The Bank of Japan raised its interest rate by 0.25%, reaching 0.50%—the highest level in 16 years. This marks the third rate hike in less than a year, following a 17-year period without increases. The central bank noted accelerating inflation and stated that it would continue raising rates if the trend persists.

Key events of this week:

• 29.01.2025: Meetings of the Federal Reserve and the Bank of Canada.
• 30.01.2025: European Central Bank meeting, U.S. labor market data (Initial Jobless Claims), and U.S. GDP report.
• 31.01.2025: Release of the U.S. Personal Consumption Expenditures (PCE) Price Index for December.

Earnings reports this week include:

• 27.01.2025: Ryanair, AT&T, Nucor;
• 28.01.2025: SAP, Lockheed Martin, Boeing, Starbucks, RTX, GM, Chubb, Stryker, Sysco, Kimberly-Clark, Royal Caribbean Group;
• 29.01.2025: ASML, T-Mobile US, Microsoft, Tesla, Meta, IBM, Levi Strauss, Progressive, ADP, ServiceNow, Danaher, Brinker, General Dynamics, MSCI, Waste Management;
• 30.01.2025: Shell, Cigna, Comcast, Blackstone, Mastercard, Intel, Visa, Apple, UPS, Dow, KLA, Nokia, Atlassian, Caterpillar, Baker Hughes, Altria;
• 31.01.2025: Novartis, Chevron, Exxon Mobil, AbbVie, LYB, Phillips 66, Eaton.