What will drive the markets this week?
Wall Street closed lower last week on inflation worries, disappointing employment and consumer reading data in the US, ongoing supply chain constraints and re-emergence of high infection rates of Covid-19 in Europe.
This week, many of the largest retailers in the U.S., including Tyson Foods, Walmart, Home Depot, Target Corp, TJX , Ross Stores, Macy’s, Kohl’s Corporation, and BJ’s Wholesale Club will report earnings. Major retailers are likely to have gotten a boost from preemptive buying, as consumers stock up ahead of the holiday season on worries about supplies and delays.
China’s biggest internet and ecommerce giants, including Alibaba, JD.com, Bilibili and iQiyi will also report earnings. The firms are expected to report a slump in revenues as the impact of regulatory changes in China affected their advertising practices and restrictions.
Investors will also digest a range of economic data including an update on retail sales ahead of the holiday shopping season.
Here is a quick summary of events that will drive markets this week.
Monday, November 15:
- Earnings Reports: Tyson Foods, Warner Music Group, Oatly, and WeWork.
Tuesday, November 16:
- Earnings Reports: Walmart, Home Depot, NetEase, and Aramark.
- U.S. Retail Sales (October)
- U.S. Export/Import Prices (October)
- U.S. Industrial Production (October)
- U.S. Capacity Utilization (October)
- NAHB Housing Market Index (November)
- EA Employment (Q3)
- EA GDP Growth (Q3)
Wednesday, November 17:
- Earnings Reports: NVIDIA, Cisco Systems, Target Corp, TJX Companies, Baidu, Bilibili, and iQiyi.
- U.S. Housing Starts and Building Permits (October)
- EA Inflation (October)
Thursday, November 18:
- Earnings Reports: Alibaba Group, Applied Materials, JD.com, Ross Stores, Macy’s, Kohl’s Corporation, and BJ’s Wholesale Club.
- CB Leading Index (October)
Friday, November 19:
- Earnings Reports: Foot Locker.