Stocks ended slightly higher despite sparse economic news. In the US, earnings season continued—two-thirds of companies beat earnings targets so far and over half beat revenue estimates. The Fed released minutes from its latest meeting—expectations for gradual rate increases remain intact.
United Kingdom Q4 2016 GDP was revised higher in its second release. The stronger posting was tied to better than expected consumption.
January Japanese trade data disappointed, with export volumes falling 0.3% y/y.
January Chinese loan data continued slowing.
Mexico’s Q4 2016 GDP grew 2.4% y/y, thanks to strong services output.
In the week ahead, the US releases January durable goods orders data. President Trump will address Congress for the first time. The UK releases January home prices. Japan reports January retail sales and industrial production.