What will drive the markets this week?
US stocks closed lower on Friday as rising coronavirus cases and an apparent rift between the Treasury Department and the Federal Reserve on the expiration of some of the Feds fiscal emergency programs cast doubt on a swift economic recovery, despite progress in vaccine development.
In addition to rising coronavirus infections and vaccine development news, this week markets will react to preliminary Q3 US, German and French GDP, U.S. consumer confidence and sentiment, and various economic data from Europe.
Wall Street will see a shortened week with the market closed on Thursday and open for a half-day of trading Friday due to the Thanksgiving holiday. Read more on this and other insights on what will drive the market this week.
Monday, November 23:
- Market Holiday in Japan for Workers Day
- Preliminary German Manufacturing and Services Purchasing Manager’s Indexes (PMIs) (November)
- Preliminary U.K. Manufacturing and Services PMIs (November)
- Preliminary French Manufacturing and Services PMIs (November)
- Preliminary U.S. Manufacturing and Services PMIs (November)
- Preliminary Eurozone Manufacturing and Services PMIs (November)
Tuesday, November 24:
- Earnings: Best Buy, Medtronic, Dell Technologies, Nordstrom, American Eagle Outfitters, and others
- German Q3 Gross Domestic Product (GDP) (Q3)
- French Preliminary GDP (Q3)
- German Ifo Busines Climate Index (November)
- U.S. S&P/CS Housing Price Index
- U.S. Conference Board Consumer Confidence (November)
Wednesday, November 25:
- Earnings: Deere
- U.S. Core Durable Goods Orders (October)
- U.S. Core Personal Consumption Expenditures (PCE) Price Index (October)
- U.S. Preliminary GDP (Q3)
- U.S. Michigan Consumer Sentiment and Expectations (October)
- U.S. New Home Sales (October)
- U.S. Federal Open Markets Committee (FOMC) Meeting Minutes Released
Thursday, November 26:
- Market Holiday in the U.S. for Thanksgiving
- European Central Bank (ECB) Publishes Account of Its Monetary Policy Meeting
- ECB Monetary Policy Statement
- Japanese Tokyo Core Consumer Price Index (CPI) (November)
Friday, November 27:
- Early Market Close (1 p.m. EST) for Day After Thanksgiving in the U.S.
- French GDP (Q3)
- Brazilian Unemployment Rate _______
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