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Last Week’s Market Activity

Last week we saw another week of green in the markets, with the Dow up 2.05%, the S&P 500 up 2.64%, the Nasdaq up 3.06%, and the Russell up a whopping 6.2% on a week-over-week basis. This rally came on the back of some much better than anticipated CPI data, with month-to-month CPI coming in at 0.0%. Although we’ve seen a lot of green over the past couple of weeks, we’re not completely in the clear year, as we still have some very important companies reporting earnings this week.

Macroeconomic Indicators

As we mentioned in the previous section, CPI came in much better than anticipated, and so did PPI. This fueled the markets as they rocketed upwards throughout the week. This, of course, signaled that the Fed is very unlikely to continue hiking interest rates, as inflation has largely been culled.

Upcoming Market Catalysts

Given the Thanksgiving holiday this week, we’ve had a relatively uneventful week in terms of economic data reports. However, it will be important to pay attention to the Fed’s FOMC meeting minutes and existing home sales on Tuesday, as well as consumer sentiment on Wednesday. The FOMC meeting minutes will give us a good idea of how Fed officials are thinking about rates.

Notable Earnings Releases

Although most of the largest companies in the world have reported their earnings, we still have some very important companies reporting earnings this week, such as:

11/20 – Agilent Technologies (A), Keysight Technologies Inc. (KEYS), Trip.com Group Limited (TCOM), Symbotic Inc. (SYM), Zoom Video Communications Inc. (ZM)

11/21 – NVIDIA Corporation (NVDA), Lowe’s Companies, Inc. (LOW), Medtronic plc (MDT), Analog Devices, Inc. (ADI), Autodesk, Inc. (ADSK), Baidu, Inc. (BIDU), HP Inc. (HPQ), Best Buy Company, Inc. (BBY), Dick’s Sporting Goods, Inc. (DKS)

11/22 – Deere & Company (DE)

11/23 – Johnson Controls International plc (JCI), Aegon Ltd. (AEG), NIO Inc. (NIO)

All eyes will be on NVDA this week. Since they have had tremendous earnings beats the past couple of quarters, analysts and retail investors alike will be on the edge of their seats, waiting to hear what the largest chip company has to say about the state of their business.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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