This week, we recovered from the pullback we saw last week, with markets continuing to surge upward on the back of excellent earnings releases and better than anticipated economic data. We’ve been through quite a few turbulent weeks this quarter, so it will be nice to see things slow down a bit so we can all breathe as we enter Thanksgiving week! However, there will still be some important metrics to pay attention to this week!
The past week was relatively quiet on the economic data front. There weren’t many economic data releases, and the results that we did see didn’t rock the boat in a major way. However, we’re not out of the woods yet. Despite a holiday week, we still have some important economic data coming out this week!
We kick things off on Tuesday this week, with consumer confidence, new home sales, and the minutes from the Fed’s FOMC meeting. We then have a jam-packed day on Wednesday as we cram a week’s worth of data into a single day. On Wednesday, we’ll get the first revision of Q3 GDP, personal income data, personal spending data, PCE, and pending home sales. Markets will undoubtedly be moved in a huge way if any of these datapoints come in higher or lower than anticipated.
Last, but certainly not least, we have quite possibly the most important macroeconomic indicator out there this week, Black Friday. Data from retailers will give us an idea of how the consumer is faring amidst these confusing economic times and will more than likely move quite a few different stocks in a significant way!
This week, earnings season slows down a bit as we approach Thanksgiving and the holiday season. However, there are still some important companies reporting their earnings this week, such as:
11/25 – Agilent Technologies (A), Zoom Video Communications (ZM), Woodward (WWD), Bath & Body Works (BBWI)
11/26 – Analog Devices (ADI), Dell Technologies (DELL), CrowdStrike Holdings (CRWD), Workday (WDAY), Autodesk (ADSK), HP (HPQ), Nutanix (NYNX), Best Buy (BBY), Burlington Stores (BURL), Dick’s Sporting Goods (DKS), The J.M. Smucker Company (SJM), Abercrombie & Fitch (ANF)
This week, everyone will be paying attention to what CRWD has to say on their earnings call. This will be the first full quarter since their notorious outage that has been the target of countless lawsuits. It will be interesting to see what they have to say regarding customer retention!
Monitoring the market conditions this week.
Want to stay in the know? Want tips delivered right to your inbox? Simply provide your email address below and you’ll get a high-value newsletter, designed to help you trade stronger.
