Weekly preview – the company's profits to make worries on the smaller stock markets | new

But the question of how much the slowdown in trade between China and the United States eclipses the anticipation of the progression of company figures over the new week. "A potential trade war threatens global production chains and creates nervousness among investors around the world," said Helaba's strategist Ulf Krauss. Last week, the new pricing threats of US President Donald Trump against China shook the financial markets. The Swiss Market Index (SMI) closed last week at 8861 points, 1.9% more than the previous week

. "The question is to what extent a commercial war, in the opinion of companies, could affect their business," said Ewout van Schaick, market expert at NN Investment Partners. Due to the escalation of the tariff dispute, some dividend forecasts have already been lowered in Germany, says Andreas Hürkamp, ​​Commerzbank's strategist.

According to analyst Jochen Stanzl of the CMC Markets Trading House, central banks take the reins in the face of the dangers of economic growth. let him relax. "And that, in turn, is now the breeding ground for the next rescue rally."

US ahead at full speed – slowing growth in China

The fundamentals for the stock markets are Bank M.M. According to Warburg, well. "As long as there is no threat of a new recession, stock prices should rise, because despite the many negative news, earnings expectations have increased." In the United States, tax reform, increased public spending and the deregulation of important sectors of the economy have provided economic momentum. "We are also optimistic about the euro zone, even if we want to increase the volatility of Trump Tweet."

US economic data will give investors a more detailed look at the June retail trade figures. Thursday, next to the weekly labor market data, the Philadelphia Fed's industry index for July is on the chart. "In the United States, more and more arguments for the economy in the second quarter are as compelling as in the space of nearly four years," Christoph Balz said. , economist at Commerzbank. In contrast, growth in China is weakening. "In our opinion, deleveraging and the slowdown in real estate activity are now having an impact, as banks worry more and more about defaults," says Balz. Monday, the People's Republic intends to submit data on industrial production and gross domestic product

Focus on reports of activity

The balance sheet season is on the rise in Europe and the United States. United States. Goldman Sachs investment bank and Johnson & Johnson consumer products and pharmaceuticals group are expected Tuesday, followed by Visa credit card issuer, Morgan Stanley Bank and IBM heavyweight technology Wednesday . On Thursday, Microsoft figures are expected.

For investors in Switzerland on Wednesday will be exciting, with the figures of the two companies SMI Novartis and SGS and Georg Fischer, Temenos and Cassiopea. Thursday, ABB and Givaudan SMI will follow, as will Kuehne + Nagel, Bank Cler, Leonteq and Rieter

In Japan, stock exchanges will be closed Monday for a holiday.

(Reuters / cash)