What will drive the markets this week?
Global stocks closed lower last week as with concerns over the economic impact of coronavirus omicron variant and moves by central banks around the world raising the Cboe Volatility Index (VIX) or the “fear index”. Investors use the VIX to measure the level of risk, fear, or stress in the market when making investment decisions.
This week will be a short trading week as markets in the U.S. and around the world close on Friday in observance of the Christmas Eve holiday. Ahead of the closures on Friday, investors can expect data releases from around the world, including home sales, durable goods orders, and consumer sentiment reports in the US.
Investors will also parse earnings from Nike, Micron Technology, Braze, General Mills, FactSet, and BlackBerry. Notably, Nike is expected to report declines after spikes in COVID-19 cases led to factory closures in Vietnam and Indonesia. Last quarter Nike beat expectations as consumer demand remained strong, and digital sales grew.
Monday, December 20:
- Earnings: Nike, Micron Technology, and Braze report.
- CB Leading Index (November)
Tuesday, December 21:
- Earnings: General Mills, FactSet, Rite Aid, and BlackBerry report.
- Canada retail sales (October)
- EA Flash Consumer Confidence (December)
Wednesday, December 22:
- Earrings: Cintas, Paychex, and CarMax report.
- U.S. Existing Home Sales (November)
Thursday, December 23:
- U.S. Personal spending and Income (November)
- Durable Goods Orders (November)
- PCE Price Index (November)
- New Home Sales (November)
- Michigan Consumer Sentiment, Final (December)
- Canada CFIB Business Barometer (December)
Friday, December 24:
- U.S. markets closed for the Christmas Eve holiday