What will drive the markets this week?
Global stocks were mostly mixed throughout last week. Indices on Wall Street edged higher on Friday after a choppy trading session but gains in the day could not offset losses earlier in the week, leaving the three major indices in weekly losses.
This week will be a holiday-shortened one in the U.S., with the Thanksgiving holiday on Thursday. On Wednesday, investors can expect data on October new home sales, a PMI reading from S&P Global, and the final reading of the University of Michigan’s Consumer Sentiment Index (MCSI). Also, the Federal Reserve will release meeting minutes from the FOMC’s latest monetary policy meeting. Earnings reports this week will arrive from Dell Technologies, Zoom, Dollar Tree, HP, Baidu, Dick’s Sporting Goods, and Nordstrom, among others.
The day after Thanksgiving is Black Friday in the U.S., a day filled with shopping deals and discounts that typically marks the beginning of the holiday shopping season. Economists often view Black Friday shopping as a key bellwether for the retail sector and overall consumer confidence. Analysts project that stubbornly high inflation and ongoing supply chain bottlenecks could adversely affect consumers and retailers this holiday season, as consumer purchasing power has declined while stores grapple with higher costs and declining revenues.
Monday, November 21
- Agilent Technologies (A), Dell Technologies (DELL), Zoom Video Communications (ZM), Jacobs Solutions (J), J.M. Smucker Company (SJM), Futu Holdings (FUTU), and Urban Outfitters (URBN) report earnings
- Chicago Fed National Activity Index (Oct)
Tuesday, November 22
- Medtronic (MDT), Analog Devices (ADI), Vmware (VMW), Autodesk (ADSK), Dollar Tree (DLTR), Baidu (BIDU), HP (HPQ), Best Buy (BBY), Warner Music Group (WMG), Burlington Stores (BURL), Dick’s Sporting Goods (DKS), Signify Health (SGFY), Nordstrom (JWN), Cracker Barrel Old Country Store (CBRL), Canadian Solar (CSIQ), American Eagle Outfitters (AEO), and Abercrombie & Fitch (ANF) report earnings
- Richmond Fed Manufacturing, Services Indexes (Nov)
Wednesday, November 23
- Deere & Company (DE) reports earnings
- New Home Sales (Oct)
- Durable Goods Orders (Oct)
- S&P Global Composite PMI - Flash Estimate (Nov)
- University of Michigan Consumer Sentiment Index - Final Reading (Nov)
- FOMC Meeting Minutes
Thursday, November 24
- U.S. markets closed for the Thanksgiving holiday
Friday, November 25
- U.S. markets close early at 1 P.M.
- Pinduoduo (PDD) reports earnings
- Black Friday in the U.S.
- Germany GDP Growth - Final Reading (Q3 2022)