Last week was a very good one for world sharemarkets. The S&P 500 in the US posted a 1.1% gain, having hit a new record high this month as inflation and economic indicators added to confidence a soft landing can be achieved. European shares surged 3.2% last week, the UK market rose 2.3%, and the Australian ASX 200 posted a 1.8% gain. The local market also had its best week since early November, with the NZX 50 gaining 1.8%. Looking ahead, this coming week is shaping up as a very busy one. In the US, the highlight will be the first Federal Reserve meeting of the year, while on the data front we'll get the latest ISM manufacturing index and the monthly jobs report. Here in New Zealand, the highlight of the week will be the ANZ Business Outlook survey for January. Markets will also be watching Reserve Bank of New Zealand Chief Economist Paul Conway’s speech on Tuesday morning, to get an update on how the central bank views some of the recent data. It'll be another busy week of earnings releases- too, with 75 S&P 500 companies scheduled to announce results. Big tech will be in focus, with Alphabet, Microsoft, Amazon, Apple and Meta all due to report.