The S&P/ASX 200 Index (ASX: XJO) ended its winning streak last week and tumbled lower after oil prices collapsed. The benchmark index ended the period with a weekly decline of 4.5% to 5,242.6 points.
Next week looks set to be a very busy one for investors. Will it be a better one? Here are a few things to watch:
Wall Street ends the week on a high.
U.S. equities had a positive night of trade on Friday and this looks set to boost the local market on Monday. The Dow Jones climbed 1.1%, the S&P 500 rose 1.4%, and the Nasdaq index stormed 1.7% higher. Current SPI futures are pointing to a gain of 82 points at the open on Monday for the ASX 200 index.
ANZ half year result.
Australia and New Zealand Banking Group (ASX: ANZ) will release the first of a series of half year updates in the banking sector on Thursday. All eyes will be on the bank's provisions for remediation and bad debts relating to the coronavirus pandemic. The following week, rivals National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) will be releasing their respective results.
Coles and Woolies third quarter updates.
Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW) are scheduled to release their respective third quarter updates next week. Coles will release its update on Wednesday and is expected to deliver third quarter group sales growth of 12.1% to $9,163 million. On Thursday Woolworths is due to release its update and is forecast to post a 10.2% jump in third quarter sales to $16,423 million.
Fortescue quarterly update.
The Fortescue Metals Group Limited (ASX: FMG) share price will also be on watch on Thursday when it becomes the final major mining company to release its quarterly update. Expectations are high for the iron ore producer following strong updates by rivals BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) this month.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
