Tuesday preview: UK employment, US banks, Powell in focus

(Sharecast News) - All eyes on Tuesday will be on the latest UK employment and wage data. According to City analyst Michael Hewson, the former may show that the prospect of further interest rate cuts from the Bank of England "remains less likely than the government would like".

Then, come afternoon investors will be scanning the headlines for the latest quarterly results from several of the largest US lenders, JP Morgan, Citigroup and Wells Fargo.

For Hewson, what investors are most keen to know is what those banks have to say regarding the current strength of consumption.

Worth noting, those lenders' results will kick off the third quarter earnings season on Wall Street.

And what investors will be especially attentive to will be any news or commentary that validates - or not - the very lofty expectations for all things related to artificial intelligence.

As at 30 September, the S&P 500's 12-month forward price-to-earnings multiple was at roughly 22.8, putting it over one standard deviation above the 30-year average of 17.0 times' earnings, according to JP Morgan Asset Management.

Also potentially key for markets could be any fresh news regarding the ongoing trade tensions between China and the US.

A speech from Federal Reserve chairman, Jerome Powell, scheduled for 1720 BST will also garner a lot of attention as will any policy relevant remarks from global policymakers gathered for the IMF and World Bank's annual meetings in Washington D.C..

Friday 17 October

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