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What you need to know
- The markets will be closed on Thursday, November 22, for Thanksgiving. Bond markets will close early at 2 pm EST Friday.
- Wednesday will bring the PCE Inflation rate for October. This week, we’ll also get the third-quarter GDP, minutes of the November Fed meeting, consumer confidence, and housing market data.
- Dell Technologies CrowdStrike HP Analog Devices and others will release their quarterly earnings reports prior to the Thanksgiving holiday.
The markets are closed for Thanksgiving on Thursday, and the bond market will close early Black Friday, which is one of the largest shopping days in the year.
Investors will also get important economic data Wednesday, when the Personal Consumption Expenditures Index (PCE) for October is released. Investors will also be interested in the minutes of the Federal Reserve’s November meeting and the third-quarter Gross domestic product (GDP). Investors will also be interested in consumer confidence and housing market statistics.
Earlier this week, the earnings reports of tech companies Dell Technologies (DELL), CrowdStrike(CRWD), HP(HPQ), Analog Devices(ADI), will be amongst the highlights on the corporate calendar.
Monday, Nov. 25
- Agilent Technologies A Zoom Video Communications ZM and Bath & Body Works (BBWI) Report earnings
Tuesday, Nov. 26
- S&P Case-Shiller Home Price Index (September)
- Consumer confidence (November).
- New home sales (October)
- Minutes from the Federal Open Market Committee meeting held in November
- Analog Devices (ADI), Dell Technologies (DELL) CrowdStrike Workday (WDAY), Autodesk (ADSK) HP (HPQ) Best Buy (BBY), Burlington Stores Report earnings
Wednesday, Nov. 27
- Initial claims for unemployment (week ending November 23)
- Orders for durable goods (October)
- Retail inventories for October
- Advance wholesale inventories for October
- 3Q Gross domestic product (first revision).
- Inflation index for Personal Consumption Expenditures in October
- Pending home sales (October)
Thursday, Nov. 28
- Thanksgiving Holiday
Friday, Nov. 29
- The bond market closes by 2 pm EST
- Chicago Business Barometer for November
The highlights of Thanksgiving week will be the PCE inflation data, Q3 GDP updates, and Fed meeting minutes.
The trading week has been shortened by the Thanksgiving holiday. Thursday is a holiday, and the markets will be closed. Friday’s bond market will also close at 2:00 pm.
Investors can get a crucial inflation update Wednesday when the Personal Consumption Expenditures price index for October is released. The October reading will be released after the September report, which showed that inflation was almost at the Federal Reserve’s 2% target. Other measures have shown that inflation could be on the rise. Fed officials say they will closely monitor inflation as they continue to consider further interest rate cuts.
On Wednesday, the first revised estimate of the gross domestic product for the third quarter will reveal if there have been any changes to initial estimates that indicated the economy had grown by 2.8% compared to the previous quarter.
On Tuesday, the Federal Reserve will release the minutes of the November meeting of the Federal Open Market Committee (FOMC). The report will provide details about the committee members’ discussion during the Nov. 6-7 meeting, during which officials voted to lower interest rates by a quarter percentage point, and may offer insights into what’s next for the Fed’s rate-cut plans.
The October survey showed that the most significant increase in consumer confidence since 2003 was seen following the November report. Tuesday will also feature several noteworthy housing reports, including the S&P Case-Shiller Home Price Index and data on new home sales.
Earnings Calendar Features Tech Firms Dell, HP, CrowdStrike
As the earnings season comes to an end, there will be fewer results released during this holiday-shortened period. However, some notable technology companies are expected to release their numbers.
Dell Technologies (DELL), a computer manufacturer, will release its quarterly earnings on Tuesday. Analysts have grown more excited about the potential for long-term gains from artificial intelligence (AI). HP’s quarterly report will also focus on sales of AI enabled PCs and Servers, while Best Buy’s will place a special emphasis on tech sales.
CrowdStrike reported its earnings at a time when the share price of the cybersecurity provider has recovered after it dropped following a major service interruption this summer.
Analog Devices, a semiconductor manufacturer, will also be reporting on Tuesday. It is looking to improve upon the results of its last quarterly report. In that report, it reported an annual revenue decline of 25%, which was higher than what analysts polled for Visible Alpha.
Laboratory supplies maker Agilent Technologies will report its quarterly earnings on Monday, along with Zoom Video Communications which posted better-than-expected profit and sales and set a record for customer retention in its prior quarter. Retailers Burlington Stores and Bath & Body Works also report this week.
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