Company / Analytics

Analytics, 29 November 2021

What will drive the markets this week?

Global stocks closed lower last week, dragged down by the uncertainty regarding the discovery of the new Covid-19 variant. Investors pushed into safe-haven investments such as treasury bonds which got more expensive due to higher demands.

Stocks and oil markets are likely to experience some recovery this week, as calm appears to be returning to markets even as investors await more details on the severity of the economic impact of the new Omicron variant.

Companies will continue to watch Thanksgiving sales, which extend through Cyber Monday. Sales from Nov. 25 to Nov. 29 are projected to increase 12% from last year, led by middle-income households, according to a survey by Deloitte.

Investors will get the last bit of tech and retail earnings releases including from Salesforce, GlobalFoundries, and Hewlett Packard Enterprise, as well as key economic data from across the world including Manufacturing and Services (PMI).

The manufacturing and services Purchasing Managers Indexes (PMI) offer insights into how managers are feeling across a wide swath of industries. In the U.S., the outlook has stayed positive. Last month, surveys indicated negative PMIs for China.

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