What will drive the markets this week?
Global stocks closed mixed last week as investors worried about a surge in Covid-19 cases in Europe and its impact on the global economic recovery.
Retail sales and earnings came in strong last week, raising concerns that consumers are spending despite rising prices, risking even higher inflation. Economic data this week will reveal whether high prices continued to weigh on consumers with the University of Michigan’s final reading of its Consumer Sentiment Index (MCSI) for November.
Retail and tech earnings continue this week with Best Buy, Dollar Tree, and Dick’s Sporting Goods, among retail companies reporting. Tech companies reporting include Zoom Video Communications, Medtronic, Autodesk, Dell Technologies, XPeng & HP.
In the US, markets will close on Thursday for the Thanksgiving holiday and early on Friday for Black Friday which starts the holiday shopping season. The holiday shopping season starts runs from Black Friday through the end of December and typically accounts for just under a fifth of U.S. total annual retail sales.
Monday, November 22:
- Earnings: Zoom Video Communications, Agilent, Keysight, and Zhihu report.
- U.S. Existing Home Sales (October)
- EA Consumer Confidence Flash Index (November)
Tuesday, November 23:
- Earnings: Analog Devices, Medtronic, Autodesk, Dell Technologies, XPeng, HP, Best Buy, Dollar Tree, J.M. Smucker, Dick’s Sporting Goods, and Gap report.
- U.S. Markit Manufacturing and Services Flash PMI (November)
- EA Markit Manufacturing and Services PMI (November)
Wednesday, November 24:
- Earnings: Deere & Company, and Futu Holdings report.
- U.S. Durable Goods Orders (October)
- U.S. Wholesale Inventories, Advance (October)
- U.S. GDP Growth, Second Estimate (Q3)
- U.S. New Home Sales (October)
- U.S. Personal spending and income (October)
- U.S. PCE Price Index (October)
- Michigan Consumer Sentiment Index, Final (November)
- FOMC Meeting Minutes
Thursday, November 25:
- U.S. Markets closed for the Thanksgiving holiday.
Friday, November 26:
- U.S. Markets close early.
- Black Friday in the U.S.
- Earnings: Kanzhun reports.
- EA Loans to Companies and Households (October)