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Global Markets Week Ahead: China Q3 GDP, Housing Starts, Big Earnings

China reports third-quarter GDP on Monday, Oct. 19, and big U.S. earnings are scheduled next week after a Kospi rout cut the index 16.2% from Oct. 8 to Oct. 15.

By Global Terminal Staff · · 3 min read

Aerial view of the Shanghai skyline lit up at night beside the Huangpu River
Photo: Zhou Xian / Unsplash

Why it matters

  • China's statistics bureau releases third-quarter GDP and September industrial output, retail sales and investment at 10 a.m. Beijing time Monday, Oct. 19. Hong Kong's stock market is closed that day.
  • The U.S. calendar is light. September housing starts come Tuesday, Oct. 20, at 8:30 a.m. ET. Netflix is scheduled to report Tuesday and Tesla Wednesday, according to Nasdaq's earnings calendar.
  • Asia took the worst of this week's chip selloff. From last week's closes to Thursday, Oct. 15, the Kospi fell 16.2% and the Nikkei 225 6.7%, while the STOXX Europe 600 rose 1.4%.

Analysis: this piece includes our interpretation of the facts reported.

China's third-quarter GDP report on Monday, Oct. 19, leads the global calendar for the week of Oct. 19–23. The National Bureau of Statistics publishes it at 10 a.m. Beijing time with September output, retail sales and investment. In the U.S., a quiet data week leaves the focus on earnings from Netflix, Tesla and other big companies.

The week before was rough for Asian stocks. Korea's Kospi fell 7.57% on Thursday alone, to its lowest close since April, as Samsung Electronics fell 9.48% and SK hynix 10.85%, Trading Economics said.

How did markets do this week?

MarketPrior week's closeThu., Oct. 15 closeChange
S&P 5007,811.547,744.06−0.86%
Nasdaq Composite27,366.1726,713.03−2.39%
Kospi (South Korea)6,625.93 (Oct. 8)5,554.22−16.17%
Nikkei 225 (Japan)69,030.9264,425.95−6.67%
STOXX Europe 600631.55640.16+1.36%
U.S. 10-year yield5.24%5.10%−0.14 pt
Brent crude ($/barrel)104.72105.92+1.15%
Gold futures ($/ounce)4,216.304,170.10−1.10%
USD/JPY158.06157.96−0.07%

Monday, Oct. 12, through Thursday, Oct. 15, against Friday, Oct. 9, closes unless noted. Korea did not trade Oct. 9 and Japan did not trade Oct. 12, Yahoo Finance data show. USD/JPY uses Yahoo's daily London-time bars for Oct. 9 and Oct. 15. Sources: Yahoo Finance chart data; the 10-year yield is the Treasury Department par yield.

Asia bounced on Friday. The Kospi rose 2.05% to 5,668.05 and the Nikkei 1.39% to 65,324.29. Trading Economics tied the Nikkei's gain to easing tech selling after TSMC reported record third-quarter profit. The Nikkei still fell 5.37% for the week. Our chip stock selloff analysis has the background.

What is on the calendar next week?

DateEvent
Mon., Oct. 19China Q3 GDP, September output, retail sales, investment and property data (10 a.m. Beijing); home prices (9:30 a.m.)
Mon., Oct. 19Hong Kong stock market closed
Mon., Oct. 19Bank of Canada Business Outlook Survey (11:30 a.m. ET)
Tue., Oct. 20China preliminary Q3 value added by industry (9:30 a.m. Beijing)
Tue., Oct. 20U.S. September housing starts and permits (8:30 a.m. ET); state jobless rates (10 a.m.)
Tue., Oct. 20GE Aerospace, RTX, 3M and GM before the open; Netflix after the close
Wed., Oct. 21U.S. third-quarter usual weekly earnings (10 a.m. ET)
Wed., Oct. 21Tesla, IBM, SAP and Texas Instruments after the close
Thu., Oct. 22Procter & Gamble, Union Pacific, Blackstone and Barclays before the open
Fri., Oct. 23American Express, SLB and Eni before the open

Earnings dates and times are from Nasdaq's earnings calendar; companies can change them. China's statistics bureau calls its dates preliminary. The Fed's October calendar lists no Board speeches for Oct. 19–23.

When do central banks meet next?

Not next week. The Federal Reserve meets Oct. 27–28, and the Bank of Canada announces its rate decision Oct. 28. The European Central Bank decides Oct. 29 after a two-day meeting. The Bank of Japan meets Oct. 29–30. The Bank of England's next decision is Nov. 5. See our yen and Bank of Japan analysis, China's September inflation data and live levels on the world markets page.

Sources