Nineteen companies are listed on the S&P are due to post their results before Friday, starting, as usual, with large US banks. Meanwhile, oil prices continue to rise, with Brent crude close to $84, and central banks are multiplying statements to prepare markets for a rate hike. Bank of England policymaker Michael Saunders warned a "significantly earlier" interest rate rises, the Telegraph newspaper said on Saturday.
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In corporate news, online clothing store ASOS dropped 11.4% after the departure of Chief Executive Officer Nick Beighton. It also said that supply chain disruption and higher costs could hit profits by over 40% next year.
Things to read:
UK funds split over disclosing how much ‘skin in the game’ they have (Financial Times)
US mortgage bonds feel strain of Fed pullback plans (Financial Times)
Investors Watch for Rising Costs in Earnings This Week (WSJ)