Busy week ahead: New iPhone, US CPI, ECB verdict, ARM IPO [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The S&P 500 ended last week on a meagre positive note, as the selloff in Apple shares slowed. Apple will be unveiling the new iPhone15 after the Chinese storm.

China announced this morning that consumer prices rose by 0.1% y-o-y in August, slower than 0.2% penciled in by analysts and after recording its first drop in over two years of 0.3% a month earlier. The US CPI data is in focus this week and should help shaping Fed expectations for November.

The US dollar is under a decent selling pressure this morning, particularly against the yen, after comments from the Bank of Japan (BoJ) Governor Ueda were interpreted as being ‘hawkish’.

For the European Central Bank (ECB), the base case scenario is a no rate hike at this week’s monetary policy meeting, but the European policymakers could announce a 25bp hike despite the latest weakness in economic data.

On the corporate calendar, ARM will go public this week, in what is going to be this year’s biggest IPO. The company is expected to price on the 13th of September with a price range of $47-51 per share, and will start trading on Nasdaq the following day. ARM is expected to be valued at around $52bn, roughly 20 times its last disclosed annual revenue on expectation that the chips needed to power the generative AI will make ARM a sunny to-go place.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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