 Okay, very good morning. Welcome to a brand new week before I begin whether you're new to the channel or you watch more frequently Don't forget to like and subscribe so the channel be much appreciated But look, let's get straight into it because a big week ahead We've got a whole ton of earnings coming out from all of the mega cap tech names We've also got the FMC meeting as well happening this week. So let's start with earnings. They're in fact 175 S&P 500 companies reporting this week by far the busiest one that we'll see throughout the earnings season and almost half 12 of the Dow 30 components are also reporting as you can see here Some of the highlights include the likes of alphabet and Microsoft aftermarket on Tuesday We also get Boeing pre-market Wednesday with meta aftermarket and then Thursday a big day because we get the likes of Apple and Amazon and then if we just zoom out a little bit We've got Exxon and Chevron to finish off the week on a Friday So a super busy day ahead on that front and something I'll be going over in much more detail If you want to follow us on LinkedIn or on other social channels We'll be covering all of those in a lot more detail when they come out Otherwise the other things I'm looking at this morning are WTI crews trading a little bit lower We've actually moved below a $94 handle going into the beginning of the week here in mainland Europe and it comes As you can see here after capping a third weekly decline on Friday what we saw last week In fact, that's the longest streak of losses so far this year Again having been predominantly elevated by lots of other things, but namely that of the energy crisis We're now reversing course of that even though the fighting there particularly in the eastern side of Ukraine continues to rage on Concerns predominantly outweighing that though are on the expectation of an economic slowdown Overshadowing the tightness of the physical crude market on the supply side as well something to be aware of is the Libya updated at the weekend and national oil Corporation otherwise known as knock aims to bring back production of around one or bring back to the production to 1.2 million barrels a day in the next two weeks as well The other thing that potentially as well as feeding into this a little bit has been a little bit more of a positive development on the Chinese COVID situation which we continue to watch with great interest COVID-19 cases fell to their lowest in a week even as officials in financial hub is Shanghai and Macau they continue to ramp up testing at this point in time But moving forward into one of the main things we're looking out for this week and undoubtedly the FMC is really has top billing As you can see here the market implied rates World would indicate around a seventy eight point seven percent probability of a seventy five basis point rate hike from the FMC on Wednesday night as they try to really arrest Persistent inflation that would take then the interest rate the federal funds rate to a new target range of two and a quarter to two and a half percent talk of a bank of Canada style one hundred basis points, which was briefly Priced in after we had that red-hot US inflation data print about two weeks ago has dissipated We've had a softer batch of recent economic activity data and indications Or indicators have come out a little bit on the weaker side And that's tempered those expectations a little bit in combination as well as some of the most hawkish members of the of the Fed Namely Bullard and Waller have come out and really talk down a hundred and more committed to seventy five at this point in time So hence the readjustment that we've seen In terms of other things we're looking out for US GDP also comes out this week And of course, it'll be closely watched as I mentioned which is kind of weighing on concerns for oil markets It's this inevitability around the potential for a US but more global level recession Looming on the horizon and the impact that I have on demand and in terms of US GDP on Thursday It's forecast to have risen an annualized point five percent during the April June period according to a survey from Bloomberg speaking to lots of different economists across the street while infantry's probably weighed heavily on the second quarter results The demand picture also darkened As consumer spending business investment and housing may have all taken bit of a step back And of course this is as that cost of living crisis really rages on that's impacting as we've seen from the lights of soft sentiment based surveys like University of Michigan confidence has seen Quite a aggressive fall in the state of the US consumer psyche Other things to look out for in the US this week We've got consumer confidence data happening on Tuesday during a good Wednesday your weekly jobs claims as usual on a Thursday Alongside core PCE pricing next personal income spending and Chicago PMI all happening on Friday So pretty busy week really if you look at that calendar of all the economic data points You got the FMC with their expected 75 basis point hike as well coupled in then with a hundred and seventy five S&P companies reporting with all the mega cap tech names. Yeah, it's going to be quite a busy one for sure Looking over in mainland Europe. What are the main things we've got? We've got German iPhone That's business sentiment out later on this morning It's expected by economists to touch a fresh two-year low Meanwhile your era economic confidence on Thursday is anticipated to drop to its lowest since Feb of 2021 so really in the doldrums of where we were and the most onerous lockdowns that we had across Europe Eurozone inflation is expected on Friday to accelerate to eight point seven percent We're looking at your area inflation rate year-on-year here on this chart You can see and hence there are the move that we had from the European Central Bank of last week who hike rates Of course for the first time 11 years by a margin of 50 basis points the largest then incline We've had since the year 2000 as they've chiefly got in mind trying to tackle this inflation issue and have actually seen one ECB member Kazakhs this morning who said that a large interest rate hike may not be over and two week a euro is a problem The hike in September needs to be quite significant and should be open to larger hikes And actually euro got a little bit of a bump this morning on the back of that comment Albeit from a lesser known ECB council member the other thing we've got from Europe to look out for is going to be that of here euro area GDP That's also coming out at the back end of the week It's out to forecast and show a minimum a bare minimum level of growth in the second quarter This comes amid as well euro area economic confidence data We're going to get on Thursday anticipated to as well drop quite sharply The inflation reading as I said in combination with GDP That's all going to be coming out on Friday will be key ones to watch for the eurozone And then finally over in China something that's probably not so regularly on your radar But worth just being aware of is the China political bureau These are really the decision-makers over top-level policy in China They're likely to meet at some time later in the week still yet to be confirmed the exact details With the property market tanking zero covid policy testing Is very much in full flow at the moment giving a lot of the fresh upticks in cases albeit slight tempering We've had in the last week and in the global growth outlet dimming a lot of people watching out for these talks Are any signals of more monetary fiscal stimulus on their way or whether officials acknowledge or not that their 2022 growth target is unachievable and this comes after that Very minor growth print that we had out of China, which continues to go through quite a steep Deselevation of growth at this point in time That is it. So hopefully that was useful again Don't forget to like and subscribe to the channel if you're new here really appreciate that Otherwise have yourself a good week ahead. Take care