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What to know this week in markets

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Minutes from the Federal Reserve Policy-making meeting in November It is expected to help form a holiday-shortened week on Wall Street as the market appears to rebound after a week of decline.

US stock and bond markets Closed on Thursday, November 24, in honor of the Thanksgiving holiday. Trading closes early on Black He Friday, with the market closing at 1pm ET.

readout of Discussions from the US Central Bank Meeting Due to be released on Wednesday earlier this month, it will be the highlight of a sluggish calendar in the coming days. The earnings calendar will also be relatively sparse as the third-quarter reporting rolls into the final stages.

registered shares Last week’s losses despite Friday’s slight gain later Hawkish Fedspeak Chorus Moist Optimism surfaced Lighter October inflation data.

The S&P 500 fell 0.7% last week, while the Nasdaq Composite fell about 1.6%. Central bank members argued In a dozen or so speeches throughout the week, they are pushing for aggressive policy tightening. The Dow Jones Industrial Average was broadly flat this week.

Minutes from the FOMC’s latest meeting, the Federal Reserve, which votes on monetary policy, may indicate officials are planning a 0.5 percentage point rate hike at the December meeting.

Atlanta Federal Reserve Bank President Rafael Bostic was the latest Fed member to hint at this possibility, speaking in Florida on Saturday. Comfortable moving from 75 basis points increase However, the purported rate could reach 4.75% to 5% before the Fed ends its current tightening cycle.

“If the economy goes according to my expectations, I believe an additional 75 to 100 basis points of tightening is warranted,” Bostic said in a speech at the Southern Economic Association in Fort Lauderdale. “It is clear that more is needed, and I believe this level of policy rate will be sufficient to keep inflation under control in a reasonable timeframe.” is not a member of

Atlanta Federal Reserve Bank President Rafael W. Bostic.Reuters/Clauda Kilcoyne

Investors have cheered for the easing of inflation reporting, but Bostic called the numbers “mixed”. Consumer Price Index (CPI) rose at a 7.7% clip last month, down from 8.2% in September. The numbers show that price gains cooled earlier than expected in October, but inflation remained below the Fed’s price stability target of 2% despite the Fed’s six rate hikes this year. is more than three times higher than Including four consecutive 0.75% rate hikes.

Fed Chairman Jerome Powell said in a post-meeting press conference this month that he and his colleagues “Several Ways To Go” It acknowledges that the outlook for inflation is becoming more difficult to ease soaring prices.

“This means that policies need to be made more restrictive, which narrows the path to a soft landing.

Aggressive Reversal of rate hike risk The U.S. economy is in recession, and Fed officials have recently become more open about acknowledging this risk.

“Fed Chair Powell realigned monetary policy at the November FOMC meeting, adopting a new ‘speed versus destination’ paradigm. This shows an intention to reach higher terminal fed fund rates at a slower pace,” he said in a recent note to Parthenon chief economist Gregory Daco. “The central bank’s determination to tighten monetary policy aggressively and the delayed impact of monetary policy on the economy have increased the potential for over-tightening.”

Federal Reserve Chairman Jerome Powell speaks at a press conference after the Federal Open Market Committee's two-day closed meeting on interest rate policy in Washington, USA, November 2, 2022.  REUTERS/Elizabeth Frantz

Federal Reserve Chairman Jerome Powell speaks at a press conference in Washington, USA, November 2, 2022. REUTERS/Elizabeth Frantz

Goldman Sachs is Raised Federal Reserve Terminal Rate Forecast Tackling another 25 basis point hike in May to a range of 5% to 5.25%, pointing to an upward tilt in investment bank risk to the Fed’s forecasts.

“Inflation is likely to remain uncomfortably high for the foreseeable future, which could put pressure on the FOMC to hold out next year’s modest rate hikes for longer,” said economists led by Jan Hatzius.

Somewhere on the economic calendar this week, durable goods orders and global PMI data readings give investors the latest snapshot of industrial and manufacturing activity. Measuring new home sales and consumer sentiment from in-depth research from the University of Michigan is also useful.

Wall Street surges towards the end of earnings season, but Dell Technologies results (Dell), JM Smucker (SJMMore), video zoom (ZM), and the dollar tree (DLTR) will be part of next week’s important corporate update.

Fewer companies expressed concerns about a recession in the third quarter compared to the second quarter, he said. Data from FactSet Research.

Among the S&P 500 companies that made earnings calls between September 15 and November 16, 26% fewer companies used the word “recession”, with 179 companies mentioning the term and This is down from 242 companies in the previous quarter.

Still, the quarter showed the third-highest number of companies highlighting fears of a potential recession since at least 2010, according to FactSet data.

economic calendar

Monday: There are no notable reports to be released.

Tuesday: Chicago Fed National Activity IndexOctober (previous month is 0.10). Richmond Fed Manufacturing Activity IndexNov (-7 expected, -10 last month)

Wednesday: MBA Mortgage Applicationthe week ending Nov. 18 (2.7% of the previous week). durable goods orderpreliminary figures for October (0.5% forecast, 0.4% last month). Durable Goods Excluding Transportreserves for October (0.1% expected, 0.5% last month); first unemployment insurance applicationthe week ending November 19 (forecast 225,000, previous week 222,000). Continuous billingthe week ending November 12 (1.507 million the previous week). S&P Global U.S. Manufacturing PMIpreliminary November (forecast 50.0, 50.4 in the previous month). S&P Global US Service PMINovember preliminary figures (forecast 48.0, previous month 47.8). S&P Global US Aggregate PMIprovisional for November (previous month was 48.2). University of Michigan Consumer Psychologythe final of November (55.5 expected, 54.7 prior). new home salesOctober (forecast 575,000, previous month 603,000). new home salesm/m, October (forecast -4.6%, previous month -10.9%). FOMC Minutes, November 1-2

Thursday: Thanksgiving. There are no notable reports to be released.

Friday: black friday. There are no notable reports to be released.

earnings calendar

Monday: Agilent (a), Dell Technologies (Dell), JM Smucker (SJMMore), Jacobs Engineering (J.), Riot (Li), Urban Outfitters (Urban), Weber (WEBR), video zoom (ZM)

Tuesday: best buy (bbee), HP (HPQ), Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Analog Devices (Analog Devices), Autodesk (ADSK),Baidu (BIDU), Burlington Stores (bar), Canadian Solar (CSIQ), Dick’s sporting goods (DKS), the dollar tree (DLTR), Guess? (GES), Jack in the Box (Jack), Medtronic (MDT), Nordstrom (JWN), Vipshop (VIPS), VMware (VMWs), Warner Music Group (WMGMore)

Wednesday: Dia (DE), SentinelOne (S.)

Thursday: Thanksgiving. There are no notable reports to be released.

Friday: black friday. There are no notable reports to be released.

Alexandra Semenova is a reporter at Yahoo Finance. follow her on her twitter @alexandraandnyc

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