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The Key Takeaways
- The Consumer Price Index, wholesale inventories, and import prices are all part of the inflation reports that will be published this week.
- Investors can also expect to receive reports about wholesale inflation, optimism in small businesses and the first claims for unemployment, as Fed officials will be under a period of blackout, where they are prohibited from commenting publicly on monetary policy.
- This week GameStop, Oracle, Broadcom and Adobe will all report their earnings.
The November Consumer Price Index is due to be released on Wednesday. Reports on wholesale inflation, import prices and other data will also follow later this week.
Investors will also get reports on the initial unemployment claims and small business optimism. Federal Reserve officials will be in a state of blackout ahead of their December meeting.
GameStop Inc. (GME), Broadcom, Adobe (ADBE), Oracle and Costco Wholesale will all be reporting their quarterly earnings.
Monday, Dec. 9
- Wholesale inventories (October)
- Oracle, Toll Brothers C3.ai (AI), Casey’s General Stores Report earnings
Tuesday, Dec. 10
- NFIB Small Business Optimism for November
- U.S. productivity (revisions) for Q3
- AutoZone (AZO) GameStop, and Dave & Buster’s Entertainment (PLAY) Report earnings
Wednesday, Dec. 11
- Consumer Price Index, November
- Budget federal for November
- Adobe Nordson (NDSN). Report earnings
Thursday, Dec. 12
- First jobless claims for the week ending December 7
- Producer Price Index November
- Broadcom Costco Wholesale Report earnings
Friday, Dec. 13
- Index of import/export prices (November).
The December Fed Meeting will be preceded by the release of inflation data
The Federal Reserve is expected to make a rate decision in the near future, and will examine closely November’s inflation numbers.
On Wednesday, the CPI for November was released. This follows an increase in the October inflation rate of 2.6%. The rate of inflation has also increased in recent months, keeping it above the Federal Reserve target.
This week, the Producer Price Index for November will be released. It shows how wholesalers are affected by inflation. The Friday release of the Import/Export Price Index provides an insight into inflation within foreign trade.
Inflation readings will be among the final data the Fed receives before next week’s meeting, when officials will discuss whether or not to reduce federal funds rates that influence other borrowing costs in the economy. While most investors think the Fed is going to make a rate cut, Fed officials said that they were closely reviewing the inflation data in order to decide whether or not rates should be lowered. Federal Reserve officials will not be making any comments about monetary policy this week.
This week, other economic indicators will include wholesale inventory data for October on Monday, the small business confidence index on Tuesday and weekly initial claims of unemployment on Thursday.
Broadcom, Meme Stock GameStop and Broadcom Chipmaker Broadcom: Investors are watching earnings
After a recent post by an investor, the Tuesday earnings report of original meme stock GameStop is going to be watched closely. “Roaring Kitty” Keith Gill sent shares soaring in the last week. In its latest earnings report, the video game retailer reported a surprising profit despite declining revenue.
Oracle is expected to report earnings on Monday as analysts recognize the opportunities that the software giant has in the market for cloud computing. Broadcom, a semiconductor manufacturer, will report its earnings on Thursday after it posted a significant loss during its previous quarter due to its acquisition by 2023 of the software company VMware.
Adobe’s quarterly report, released this week, follows on from a disappointing revenue forecast. The graphics software company is expected to take advantage of artificial intelligence advancements.
Costco Wholesale reports its earnings after the retailer showed slower sales growth in its prior quarter, though it anticipates muted holiday sales this year due to the late timing of the Thanksgiving holiday.
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