What will drive the markets this week?
Global equities closed lower last week on weaker-than-expected US jobs report, and concerns over economic impacts of the Omicron variant and expectations of monetary policy challenges by leading central banks, including the US Federal Reserve, amid rising inflation in the US and the Eurozone.
This week, investors will parse a range of economic data including consumer sentiment and business optimism, and an update on supply chain logistics. The Logistics Managers Index (LMI) measures logistics activity in the United States, based on a survey of supply chain professionals. The LMI for November released this week is expected to show continued gains compared to pandemic lows, despite ongoing challenges. In October, the index registered a reading than September, as transportation utilization and pricing increased.
A range of companies including GameStop, Costco, Broadcom, and Lululemon among others will report earnings.
Monday, December 6:
- Earnings: MongoDB, and GitLab, report earnings.
- LMI Logistics Managers Index (November)
- China Exports and Imports (November)
- Japan Household Spending (October)
Tuesday, December 7:
- Earnings: Autozone reports.
- U.S. Nonfarm Productivity, Final (Q3)
- U.S. Exports and Imports (October)
- IBD/TIPP Economic Optimism (December)
Wednesday, December 8:
- Earnings: UiPath, GameStop, Campbell Soup Company, Udemy, and Rent the Runway report.
- JOLTS (October)
- China Consumer Price Index (November)
- China Producer Price Index (November)
- India RBI Interest Rate Decision
Thursday, December 9:
- Earnings: Costco, Broadcom, Lululemon, Chewy, and Hormel Foods report.
- WASDE Report
- Japan Producer Price Index (November)
Friday, December 10:
- U.S. Consumer Price Index (November)
- Michigan Consumer Sentiment Index, Preliminary (December)
- India Inflation Rate (November)
- India Industrial and Manufacturing Production (October)