Company / Analytics

Analytics, 30 November 2020

What will drive the markets this week?

U.S. stocks gained last Friday with shares of technology and health-care companies pushing the S&P 500 and Nasdaq Composite to new records in a shortened trading week, which saw bonds and commodities signaling a growing optimism that economic activity will strengthen into the new year. In Asia, Japan’s Nikkei-225 Stock Average advanced to its highest level since May 1991.

Last week, investors noted healthy online retail sales with the holiday shopping season beginning and parsed an update about the presidential transition as well as news related to vaccines for COVID-19.

This week, investors will assess a range of economic data from Canada and the US including GDP (Canada), Purchasing Managers Indices, employment reports, trade balance, and construction spending. In earnings, investors will get fiscal reports from Zoom and Salesforce.

Oil cartel OPEC and its allies meet on Monday to plot their next moves, Eurozone finance ministers meet Tuesday as UK Parliament votes on a tiered system of Covid-19 restrictions. Meanwhile, S&P Global to buy #IHS Markit for about $44 billion as TikTok owner ByteDance faces a Friday deadline to sell off its US business. Read more on these and other insights on what will drive the market this week.

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