Monday November 7, 2022: $138.92 +$0.54 +0.39%
Nov 7, 2022 2:15:02 GMT -8
artman1033 and Ted like this
Post by Dave on Nov 7, 2022 2:15:02 GMT -8
Good morning. We’re starting this week with a red pre-market at -1.15% at this moment.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, November 7
Activision Blizzard (ATVI), BioNTech (BNTX), Diamondback Energy (FANG), Welltower Inc. (WELL), International Flavors & Fragrances (IFF), Franco-Nevada Corp. (FNV), Tata Motors (TTM), Take-Two Interactive Software (TTWO), The Mosaic Company (MOS), Palantir Technologies (PLTR), Ryanair Holdings (RYAAY), Alliant Energy (LNT), SolarEdge Technologies (SEDG), and Viatris Inc. (VTRS) report earnings
Consumer Credit Change (Sep)
Tuesday, November 8
The Walt Disney Company (DIS), Occidental Petroleum (OXY), GlobalFoundries Inc. (GFS), Constellation Energy (CEG), DuPont (DD), Alcon Inc. (ALC), Lucid Group (LCID), Fidelity National Financial (FNF), News Corporation (NWS), and Norwegian Cruise Line Holdings (NCLH) report earnings
NFIB Business Optimism Index (Oct)
China Inflation Rate (Oct)
Wednesday, November 9
TC Energy Corp. (TRP), Southern Copper Corp. (SCCO), Manulife Financial Corp. (MFC), Coupang (CPNG), Rivian Automotive (RIVN), D.R. Horton (DHI), Roblox Corp. (RBLX), and The Trade Desk (TTD) report earnings
Thursday, November 10
AstraZeneca (AZN), Becton Dickinson (BDX), Brookfield Asset Management (BAM), NIO Inc. (NIO), NICE Systems Ltd. (NICE), Toast Inc. (TOST), Aegon (AEG), Celsius Holdings (CELH), U.S. Foods Corp. (USFD), Ralph Lauren (RL), Dillard’s Inc. (DDS), Weibo Corp. (WB), and WeWork (WE) report earnings
Consumer Price Index (CPI) Inflation Report (Oct)
Friday, November 11
Sumitomo Mitsui Financial Group (SMFG), Mizuho Financial Group (MFG), Algonquin Power & Utilities Corp. (AQN), and Embraer (ERJ) report earnings
University of Michigan Consumer Sentiment Index - Preliminary Reading (Nov)
U.K. GDP Growth Rate - Preliminary Reading (Q3 2022)
U.K. Industrial Production (Sep)
Germany Inflation Rate (Oct)
The Latest Update on Inflation
On Thursday, the Bureau of Labor Statistics (BLS) will release its Consumer Price Index (CPI) for October. Economists are projecting consumer prices rose 0.7% from a month earlier, accelerating from a 0.4% gain in September. On an annual basis, prices likely rose 8% from a year ago, decelerating slightly from an 8.2% gain in September. Core inflation, which strips away volatile food and energy costs, likely rose 0.5% from a month earlier. Year-over-year, core inflation is expected to hit 6.7%, accelerating from 6.6% in September and reaching a new 40-year high.
Is Consumer Sentiment Improving?
Next Friday, the University of Michigan will release the preliminary November reading of its Consumer Sentiment Index (MSCI)—a key barometer of consumer confidence in the U.S. The index is projected to show a reading of 60, which would mark a slight improvement from 59.9 recorded in October. Consumer sentiment has languished near multi-decade lows in recent months, as high inflation, rising borrowing costs, and an economic slowdown continue to impact U.S. households. The MCSI hit an all-time low of 50 in June, with overall pessimism surpassing that of the Great Recession in 2008 and the stagflation era of the 1970s and early 1980s.
A GDP Report From the U.K.
Also on Friday, the U.K.’s Office for National Statistics will report the advance estimate for U.K. gross domestic product (GDP) for the third quarter of 2022. The Bank of England (BoE) projects that U.K. GDP contracted 0.5% in the three months ended September, following a 0.2% advance in the second quarter of the year. The U.K. economy could be on the brink of a recession, as rising inflation, slowing growth, and a cost of living crisis impact the economy. To combat rising inflation, the Bank of England recently raised its benchmark interest rate by an additional 75 basis points (bps) on Thursday, conducting its largest rate hike in 33 years and raising rates to their highest level since 2008.
Monday, November 7
Activision Blizzard (ATVI), BioNTech (BNTX), Diamondback Energy (FANG), Welltower Inc. (WELL), International Flavors & Fragrances (IFF), Franco-Nevada Corp. (FNV), Tata Motors (TTM), Take-Two Interactive Software (TTWO), The Mosaic Company (MOS), Palantir Technologies (PLTR), Ryanair Holdings (RYAAY), Alliant Energy (LNT), SolarEdge Technologies (SEDG), and Viatris Inc. (VTRS) report earnings
Consumer Credit Change (Sep)
Tuesday, November 8
The Walt Disney Company (DIS), Occidental Petroleum (OXY), GlobalFoundries Inc. (GFS), Constellation Energy (CEG), DuPont (DD), Alcon Inc. (ALC), Lucid Group (LCID), Fidelity National Financial (FNF), News Corporation (NWS), and Norwegian Cruise Line Holdings (NCLH) report earnings
NFIB Business Optimism Index (Oct)
China Inflation Rate (Oct)
Wednesday, November 9
TC Energy Corp. (TRP), Southern Copper Corp. (SCCO), Manulife Financial Corp. (MFC), Coupang (CPNG), Rivian Automotive (RIVN), D.R. Horton (DHI), Roblox Corp. (RBLX), and The Trade Desk (TTD) report earnings
Thursday, November 10
AstraZeneca (AZN), Becton Dickinson (BDX), Brookfield Asset Management (BAM), NIO Inc. (NIO), NICE Systems Ltd. (NICE), Toast Inc. (TOST), Aegon (AEG), Celsius Holdings (CELH), U.S. Foods Corp. (USFD), Ralph Lauren (RL), Dillard’s Inc. (DDS), Weibo Corp. (WB), and WeWork (WE) report earnings
Consumer Price Index (CPI) Inflation Report (Oct)
Friday, November 11
Sumitomo Mitsui Financial Group (SMFG), Mizuho Financial Group (MFG), Algonquin Power & Utilities Corp. (AQN), and Embraer (ERJ) report earnings
University of Michigan Consumer Sentiment Index - Preliminary Reading (Nov)
U.K. GDP Growth Rate - Preliminary Reading (Q3 2022)
U.K. Industrial Production (Sep)
Germany Inflation Rate (Oct)
The Latest Update on Inflation
On Thursday, the Bureau of Labor Statistics (BLS) will release its Consumer Price Index (CPI) for October. Economists are projecting consumer prices rose 0.7% from a month earlier, accelerating from a 0.4% gain in September. On an annual basis, prices likely rose 8% from a year ago, decelerating slightly from an 8.2% gain in September. Core inflation, which strips away volatile food and energy costs, likely rose 0.5% from a month earlier. Year-over-year, core inflation is expected to hit 6.7%, accelerating from 6.6% in September and reaching a new 40-year high.
Is Consumer Sentiment Improving?
Next Friday, the University of Michigan will release the preliminary November reading of its Consumer Sentiment Index (MSCI)—a key barometer of consumer confidence in the U.S. The index is projected to show a reading of 60, which would mark a slight improvement from 59.9 recorded in October. Consumer sentiment has languished near multi-decade lows in recent months, as high inflation, rising borrowing costs, and an economic slowdown continue to impact U.S. households. The MCSI hit an all-time low of 50 in June, with overall pessimism surpassing that of the Great Recession in 2008 and the stagflation era of the 1970s and early 1980s.
A GDP Report From the U.K.
Also on Friday, the U.K.’s Office for National Statistics will report the advance estimate for U.K. gross domestic product (GDP) for the third quarter of 2022. The Bank of England (BoE) projects that U.K. GDP contracted 0.5% in the three months ended September, following a 0.2% advance in the second quarter of the year. The U.K. economy could be on the brink of a recession, as rising inflation, slowing growth, and a cost of living crisis impact the economy. To combat rising inflation, the Bank of England recently raised its benchmark interest rate by an additional 75 basis points (bps) on Thursday, conducting its largest rate hike in 33 years and raising rates to their highest level since 2008.