Welcome to the Weekly Newsletter Update

Transition of Power in the US

As Joe Biden concludes his final week in the White House, preparations are underway for the inauguration ceremony that will reinstall Donald Trump as the president. Biden’s industrial policy legacy seems doomed, but he aims to end his term gracefully. A significant corporate story connected to this power shift involves TikTok, facing a potential shut down in the US due to security concerns. Despite efforts to overturn the bill, the video app may still be saved by Trump, who has shown support for the platform.

To gain insights into the upcoming phase of US politics, the FT is hosting a subscriber webinar on January 23, offering critical analyses of Trump’s potential second term. For more information and free registration, click here.

New Prime Minister in France

France’s new Prime Minister François Bayrou is set to present his policy priorities to the French parliament this week. To understand more about this "original centrist" politician, read this article.

Earnings Season and Economic Outlook

The earnings season is in full swing, with Wall Street banks gearing up to report fourth-quarter figures. Notably, Citigroup is expected to show improvements but potentially fall short of CEO Jane Fraser’s targets. Economic news on inflation and monetary policy updates from major economies will also shape the market in the coming days.

For a detailed list of company reports and economic data expected this week, refer to the following schedule:

Monday

• China: December trade figures
• EU: Q3 balance of payments data
• India: December consumer price index (CPI) inflation rate data
• UK: Annual Make UK/PwC senior manufacturing executives survey
• Results: HCL Technologies Q3, PageGroup Q4 trading update

Tuesday

• Bank of England deputy governor for financial stability Sarah Breeden speaks at the Financial Stability Law Forum in Zurich, Switzerland
• India: Monthly wholesale price index (WPI) inflation rate data
• US: December producer price index (PPI) inflation rate data
• Results: Card Factory trading update, Games Workshop HY, Grafton Group trading update, Gym Group FY pre-close trading update, JD Sports peak trading statement, MJ Gleeson trading update, Ocado Retail Q4 trading statement, OMV Q4 trading update, Persimmon trading update, Robert Walters Q4 trading update

Wednesday

• Bank of England Monetary Policy Committee external member Alan Taylor gives a speech at Leeds University, UK
• Opec and IEA monthly Oil Market Reports published
• EU: November industrial production figures
• France: December CPI inflation rate data
• Germany: Annual GDP first estimate
• UK: December CPI and PPI inflation rate data, January private rent and house price statistics
• US: December CPI inflation rate and real earnings data, Federal Reserve Beige Book published
• Ashley Buchanan becomes Kohl’s CEO, succeeding Tom Kingsbury
• Results: Ashmore Q2, Bank of New York Mellon Q4, BlackRock Q4, Citigroup Q4, Currys peak trading update, Fuller, Smith & Turner trading update, Goldman Sachs Q4, Hays trading update, International Distribution Services Q3 trading update, JPMorgan Chase Q4, Liontrust Asset Management 9M/Q3 trading update, Victorian Plumbing FY, Vistry Group trading update, Wells Fargo Q4

Thursday

• EU: European Central Bank publishes the minutes of its last monetary policy meeting
• Germany: December CPI and harmonised index of consumer prices (HICP) inflation rate data
• Japan: November revised retail sales figures
• UK: November GDP estimate, RICS residential property market survey
• US: January NAHB Housing Market Index
• Results: Bank of America Q4, Deliveroo Q4 trading update, Dunelm Q2 trading update, Infosys Q3, M&T Bank Q4, Morgan Stanley Q4, PNC Financial Services Q4, Rathbones trading update, Rio Tinto Q4 operations review (AM in Australia), Safestore FY, Taylor Wimpey trading update, Taiwan Semiconductor Manufacturing Company Q4, Trustpilot trading update, UnitedHealth Q4, US Bancorp Q4, Whitbread Q3 trading update

Friday

• China: Revised Q4 GDP estimate, December retail sales, House Price Index and industrial output figures
• EU: December HICP inflation rate data
• UK: December retail sales figures
• US: December industrial production, building permits, and housing starts data
• Results: Citizens Financial Group Q4, DFS Furniture interim trading statement, Schlumberger Q4, State Street Q4

World Events

For a comprehensive overview of other events and milestones happening this week, check out the schedule below:

• Monday:

  • India: Kumbh Mela in Prayagraj
  • Japan: Coming of Age Day (Adult’s Day)

• Tuesday:

  • Orthodox Christian New Year
  • France: François Bayrou’s policy speech

• Wednesday:

  • Belgium: Nato military committee in chiefs of defence session
  • US: SpaceX Falcon 9 rocket launch

• Thursday:

• Friday:

• Saturday:
  • Orthodox Christian Epiphany
  • US: President-elect Donald Trump rally and Academy Awards nominations

Don’t miss out on our recommended newsletters:

• Inside Politics: Keep up with UK politics here
• US Election Countdown: Dive into money and politics in the race for the White House here

For any inquiries or suggestions, feel free to email me at jonathan.moules@ft.com. Let’s make this week a productive one!