Last week, the shortened trading week ended green, with all of the major US indices up between 1%-2% on the week. However, with next to no new economic data or earnings releases, this slightly green week was far from surprising. Don’t get too excited though – there will be plenty of economic data and earnings releases this week to shake things up!
Aside from some relieving commentary in the FOMC minutes, there wasn’t a whole lot of news last week, due to the holidays. However, the fact that new home sales beat by such a wide margin was quite perplexing!
This week we will see quite a few important economic data releases, starting with the Q3 GDP revision on Wednesday. We’ll also get to hear about job openings as well as quits on Wednesday, which will be important to keep an eye on. On Thursday, we’ll get to see the latest numbers on real disposable income and real consumer spending, as well as motor vehicle sales. Lastly, on Friday, we’ll get data on nonfarm payrolls, average hourly earnings, and the unemployment rate.
All of these metrics will help give us a better idea of how the consumer is doing. This is key, since there has been so much conflicting data around the consumer, it’s been tough to pin down how they are doing financially.
On top of a jam-packed week of economic releases, we’ve also got a few key companies releasing their Q3 earnings:
11/29 – The AZEK Company (AZEK),
11/29 – Intuit Inc. (INTU), Workday (WDAY), CrowdStrike Holdings (CRWD)
11/30 – Salesforce (CRM), Snowflake (SNOW), Hormel Foods (HRL), Five Below (FIVE), Okta (OKTA)
12/01 – Toronto Dominion Bank (tD), Dollar General Corporation (DG), Kroger Company (KR), Ulta Beauty (ULTA)
This week, we’ve got some more established tech companies, such as CRM and INTU reporting earnings. While they likely won’t have anything shocking to say, it’ll be important to hear what they have to say regarding the business landscape.
We’ll also see some important consumer companies, like DG, FIVE, KR, and ULTA report earnings. Everyone will be listening intently to what they have to say about supply chains as well as consumer spending behavior.
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.
