US CPI and Apple’s new product launch will be the main themes next week, while Oracle’s earnings and trends in AI and semiconductor demand are emerging as key market focuses.
Tokyo markets are expected to lack a clear direction next week, supported by strong-performing stocks but constrained by upcoming monetary policy decisions in Japan and the US. Trading may be futures-led ahead of the major SQ on the 11th, while movements in long-term US Treasury yields will be a key market driver.
In the US market, the release of the August PPI and August CPI will be the main focus after the Labor Day holiday closure. Even after officials expressed differing views on the rate-hike outlook within the Federal Reserve, interest-rate expectations are expected to shift depending on the data.
Among corporate events, Apple’s fall product launch is scheduled for after the market close on the 10th. AeroVironment’s earnings, TSMC’s release of its August sales, and the earnings results of Oracle and Adobe are also due. Opportunities to assess the underlying strength of AI-related demand on a stock-by-stock basis are likely to increase.
The AI market remains healthy, but differences between stocks may widen based on the strength of their growth prospects and guidance. Dell, HPE and Snowflake are expected to demonstrate strong orders and earnings, while stocks that report weaker-than-expected gross margins or guidance may be more vulnerable to selling pressure.
Next week will see CPI and PPI intersect with developments at Apple, TSMC, Oracle and Adobe as two central market themes. Funds may concentrate in stocks backed by actual performance metrics such as revenue growth and profit margins.