This past week, we saw a relatively calm market, with the Dow, S&P, and Nasdaq being slightly up week-over-week and the Russell being slightly down week-over-week. This isn’t very surprising, considering the last week of the year is typically very slow. Likewise, we’re probably going to have another relatively slow week this week as both Wall Street firms and publicly traded companies slowly get back into the swing of things after the holidays.
We didn’t see any noteworthy indicators last week. However, this week will be jam-packed with important data!
Things will pick up this week in terms of economic data reports, as we get to see US job openings and the minutes from December’s Fed meeting on Wednesday. On Thursday, we’ll see the ADP employment report, followed by the US employment report, unemployment rate, and hourly wages on Friday. It’ll be important to pay attention to these key employment reports, as well as the Fed minutes, as it will give us a better idea of what the Fed is looking to do going forward.
Given the shortened trading week and the start of the new year, earnings will be slow this week. However, there are still some important companies reporting their earnings, such as:
01/04 – Walgreens Boots Alliance (WBA), Lamb Weston Holdings (LW), and ConAgra Brands (CAG)
01/05 – Constellation Brands (STZ)
It will be important to pay attention to what all of these companies have to say, as they are all in the consumer staples business. They will undoubtedly provide some important insight as to where consumers are spending their money.
Monitoring the market conditions this week.
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