Next week's financial results and economic calendar (10/23 to 10/27) Will the high-tech stock advantage continue as US high-tech financial results have been announced one after another?

Next week's points
It is expected that Japanese stocks will continue to be volatile next week due to rising US interest rates and caution against the situation in the Middle East. Financial results announcements by major companies at home and abroad are in full swing, and developments that will leave them feeling disappointed by performance trends are also expected.

Also, it is necessary to continue to pay attention to developments in the situation in the Middle East. There is no sign that long-term US interest rates will peak out, and if the ground war in the Palestinian Autonomous Region of Gaza by the Israeli military is not avoided and intensifies, there is a possibility that the trend of risk aversion will be rekindled.

This week's market points
1. The Nikkei Average fell for the first time in 2 weeks, over 1000 yen lower
2. Be wary of geopolitical risks in the Middle East
3. Strong rice retail sales clearly show the strength of the US economy
4. Fed Chairman Powell suggests continued suspension of interest rate hikes
5. Long-term US interest rates break through 5% for the first time in 16 years due to tightening long-term observations
6. The yen depreciates and is back in the 150 yen range

The Nikkei Average fell sharply in the Tokyo stock market this week to 31,259 yen, 1056 yen (3.3%) lower than the previous weekend, for the first time in 2 weeks. The gain/fall ratio (25-day moving average) of the Nikkei Stock Average was over 120 at one point, but it has now fallen to around 80. If it falls below 80, it's just called “oversold”Maybe the phase of picking up pressure points is getting closer。

Retail sales of rice in September were significantly higher than expected,It suggested the strength of private consumption. In his speech on the 19th, Fed Chairman Powell suggested the possibility of forgoing interest rate hikes at the next US FOMC, but if high economic growth and tight employment continue,There is still a possibility of additional interest rate hikes in the futureI emphasized that. Long-term US interest rates are temporary5.0%Long-term observations of policy interest rates that have risen to a high level have weighed on the stock market. Bank of Japan Governor Ueda gave a speech on the 20thEmphasize once again the policy of continuing large-scale monetary easing. The yen is against the dollar, and 1 dollar is temporarily in the 150 yen range,Vigilance against intervention continues。