Week ahead: Fed, ECB and BOJ decisions, Alphabet-Microsoft-Amazon earnings and a UK budget test markets

Investors face one of the busiest weeks of the autumn, Reuters wrote in its weekly preview on 24 October.

Central banks

The Federal Reserve, Bank of Canada and Reserve Bank of New Zealand announce decisions on Wednesday, the ECB on Thursday and the Bank of Japan on Friday. According to Reuters, the Fed, ECB and BOJ are under no immediate pressure to raise rates again after tightening last month, while markets expect Canada and New Zealand to hike to contain inflation. Fed Chair Kevin Warsh will be pressed on the outlook, and the ECB is expected to face questions about surging French borrowing costs.

AI earnings

Alphabet, Microsoft and Amazon report results as investors grow wary of data-centre spending; about a third of S&P 500 companies report, including Eli Lilly, Exxon, Chevron and Caterpillar.

Politics and budgets

British finance minister John Healey presents his first budget on Wednesday; analysts polled by Reuters think his fiscal headroom could almost halve to about £15 billion without spooking markets. Israel holds an election on Tuesday that polls call a coin toss, and Brazil also votes.

Where markets stand

On Friday Brent crude settled at $116.72, its highest close since 29 April, while the Dow fell 1.23% and the S&P 500 0.52%; the 10-year Treasury yield ended at 4.99%.