Premarket: Stocks gain in packed week of earnings and rate decisions

Global stocks edged up on Monday in a week packed with earnings and a trio of central bank meetings that could see the United States and UK open the door to interest rate cuts, while Japan might lift borrowing costs in a step toward “normality”.

“U.S. markets are approaching crunch time. This coming week could very well set the path for markets over the near term,” Matt Britzman, senior equity analyst at Hargreaves Lansdown, said. Futures are fully priced for a quarter-point easing and even imply a 12% chance of 50 basis points, and have 68 basis points of easing priced in by December.

The Bank of Japan also meets Wednesday and markets imply a 70% chance it will hike rates by 10 basis points to 0.2%, with some chance it could move by 15 basis points. The consumer products sector offset some of that uplift, as shares in Enfamil formula maker Reckitt Benckiser hit their lowest since early 2013 following a U.S. court ruling against rival Abbott in a case on infant formula.

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