This week, we saw mixed results in the market, as the S&P and Nasdaq were up week-over-week, whereas the Dow and Russell were down. These results come from a mixed bag of earnings this week. However, some key consumer companies, such as Lululemon and Ulta Beauty, reported better than expected earnings, indicating that the consumer is considerably stronger than anticipated. Unfortunately, though, we’re not out of the woods yet, as we have another big week ahead of us!
Last week, we saw very few upsets in terms of economic data releases. There were 0.2 million more job openings than expected. However, by the same token, there were a few more initial jobless claims than anticipated. Additionally, the unemployment rate ticked up slightly month-over-month, from 4.1% in November to 4.2%. Although there weren’t many upsets this week, the week ahead of us has some important economic data releases, so you never know what will happen!
This week, we kick the week off strong, with CPI data on Wednesday, followed by PPI data on Thursday. These key inflation indicators will give us an idea of where prices are heading and will also signal to the Fed whether they need to cut rates or keep them where they are. This is important because the next FOMC meeting is in two weeks!
This week, we have some very important companies reporting their earnings, such as:
12/09 – Oracle (ORCL), BHP Group (BHP), MongoDB (MDB), Caseys General Stores (CASY), Toll Brothers (TOLL)
12/10 – AutoZone (AZO), Ferguson Enterprises (FERG), GameStop (GME)
12/11 – Adobe (ADBE), Nordson (NDSN)
12/12 – Broadcom (AVGO), Costco Wholesale (COST), Lennar (LEN/LEN.B), Ciena (CIEN)
This week, all eyes will be on AVGO as the semiconductor giant reports their Q3 earnings. This earnings release will give us a good idea of how some of the other large semiconductor players will fare when they report their earnings in a few weeks. Additionally, analysts will be paying attention to TOLL and LEN to get an idea of where the housing market sits.
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.
