Monday November 14, 2022: $148.28 -($1.42) -(0.95%)
Nov 14, 2022 2:31:13 GMT -8
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Post by Dave on Nov 14, 2022 2:31:13 GMT -8
Good morning. We’re starting this week with a red pre-market at -0.90% at this moment. Will we be able to build on last week’s gains or is this a time for consolidation? Only time will tell.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, November 14
Tyson Foods (TSN), KE Holdings (BEKE), AECOM (ACM), and Tower Semiconductor (TSEM) report earnings
Tuesday, November 15
Walmart (WMT), Home Depot (HD), BHP Group (BHP), Sea Limited (SE), Advance Auto Parts (AAP), Aramark (ARMK), Legend Biotech (LEGN), Tencent (TME), and Krispy Kreme (DNUT) report earnings
Producer Price Index (PPI) (Oct)
NY Empire State Manufacturing Index (Nov)
Wednesday, November 16
NVIDIA Corporation (NVDA), Cisco Systems (CSCO), Lowe’s Companies (LOW), TJX Companies (TJX), Target (TGT), Copart Inc. (CPRT), Grab Holdings Ltd. (GRAB), Bath & Body Works (BBWI), and Victoria’s Secret (VSCO) report earnings
Retail Sales (Oct)
Retail Inventories (Sep)
Industrial Production (Oct)
Business Inventories (Sep)
NAHB Housing Market Index (Nov)
Thursday, November 17
Alibaba (BABA), Applied Materials Inc. (AMAT), Palo Alto Networks (PANW), NetEase Inc. (NTES), Ross Stores (ROST), Keysight Technologies (KEYS), BJ’s Wholesale Club (BJ), Williams Sonoma (WSM), Macy’s (M), Gap Inc. (GAP), and Kohl’s Corp. (KSS) report earnings
Housing Starts (Oct)
Building Permits (Oct)
Philadelphia Fed Manufacturing Index (Nov)
Friday, November 18
JD.com (JD), Atkore Inc. (ATK), Foot Locker (FL), and Buckle Inc. (BKE) report earnings
Conference Board Leading Economic Index (Oct)
Existing Home Sales (Oct)
Retail Sales and Earnings
Some of the nation’s largest big-box retailers report next week, including Walmart, Target, Macy’s, Home Depot, and Lowe’s. Walmart earnings are projected to have declined, with expected earnings per share (EPS) of $1.31, down nearly 10% compared to the same quarter a year ago. Target earnings are also projected to have fallen in the third quarter, with likely EPS of $2.14, down nearly 30% year-over-year as the retailer slashes prices to clear inventories.
On Wednesday, the U.S. Census Bureau will report retail sales data for October, indicating whether consumers continued to spend on goods and services last month. Retail sales growth likely rebounded by 0.8% in October, following an unchanged reading in September. Consumer spending has decelerated markedly this year, as prices rose and the Federal Reserve raised interest rates. However, spending last month may have been boosted by shoppers getting a head start on holiday shopping, with Adobe Analytics expecting retailers to offer holiday sales sooner this year and consumers to try to beat inflation by buying earlier.
More Insights on the Housing Market
Additional updates on the U.S. housing market will become available next week, beginning with the release of the NAHB’s Housing Market Index on Wednesday. On Thursday, the U.S. Census Bureau will report on October housing starts and building permits. Housing starts are projected to have fallen to 1.42 million last month, down from 1.44 million in September and compared to a recent peak of close to 1.81 million in April.
On Friday, the National Association of Realtors (NAR) will release existing home sales figures for October. Existing home sales are projected to have fallen steeply last month, to 4.36 million from 4.71 million in September. This would represent the ninth consecutive month of declines, from a recent peak of 6.49 million in January. Homebuyer demand has been heavily impacted by rising mortgage rates, with the average rate on a 30-year fixed-rate mortgage surging above 7% in recent weeks according to the Mortgage Bankers Association.
Monday, November 14
Tyson Foods (TSN), KE Holdings (BEKE), AECOM (ACM), and Tower Semiconductor (TSEM) report earnings
Tuesday, November 15
Walmart (WMT), Home Depot (HD), BHP Group (BHP), Sea Limited (SE), Advance Auto Parts (AAP), Aramark (ARMK), Legend Biotech (LEGN), Tencent (TME), and Krispy Kreme (DNUT) report earnings
Producer Price Index (PPI) (Oct)
NY Empire State Manufacturing Index (Nov)
Wednesday, November 16
NVIDIA Corporation (NVDA), Cisco Systems (CSCO), Lowe’s Companies (LOW), TJX Companies (TJX), Target (TGT), Copart Inc. (CPRT), Grab Holdings Ltd. (GRAB), Bath & Body Works (BBWI), and Victoria’s Secret (VSCO) report earnings
Retail Sales (Oct)
Retail Inventories (Sep)
Industrial Production (Oct)
Business Inventories (Sep)
NAHB Housing Market Index (Nov)
Thursday, November 17
Alibaba (BABA), Applied Materials Inc. (AMAT), Palo Alto Networks (PANW), NetEase Inc. (NTES), Ross Stores (ROST), Keysight Technologies (KEYS), BJ’s Wholesale Club (BJ), Williams Sonoma (WSM), Macy’s (M), Gap Inc. (GAP), and Kohl’s Corp. (KSS) report earnings
Housing Starts (Oct)
Building Permits (Oct)
Philadelphia Fed Manufacturing Index (Nov)
Friday, November 18
JD.com (JD), Atkore Inc. (ATK), Foot Locker (FL), and Buckle Inc. (BKE) report earnings
Conference Board Leading Economic Index (Oct)
Existing Home Sales (Oct)
Retail Sales and Earnings
Some of the nation’s largest big-box retailers report next week, including Walmart, Target, Macy’s, Home Depot, and Lowe’s. Walmart earnings are projected to have declined, with expected earnings per share (EPS) of $1.31, down nearly 10% compared to the same quarter a year ago. Target earnings are also projected to have fallen in the third quarter, with likely EPS of $2.14, down nearly 30% year-over-year as the retailer slashes prices to clear inventories.
On Wednesday, the U.S. Census Bureau will report retail sales data for October, indicating whether consumers continued to spend on goods and services last month. Retail sales growth likely rebounded by 0.8% in October, following an unchanged reading in September. Consumer spending has decelerated markedly this year, as prices rose and the Federal Reserve raised interest rates. However, spending last month may have been boosted by shoppers getting a head start on holiday shopping, with Adobe Analytics expecting retailers to offer holiday sales sooner this year and consumers to try to beat inflation by buying earlier.
More Insights on the Housing Market
Additional updates on the U.S. housing market will become available next week, beginning with the release of the NAHB’s Housing Market Index on Wednesday. On Thursday, the U.S. Census Bureau will report on October housing starts and building permits. Housing starts are projected to have fallen to 1.42 million last month, down from 1.44 million in September and compared to a recent peak of close to 1.81 million in April.
On Friday, the National Association of Realtors (NAR) will release existing home sales figures for October. Existing home sales are projected to have fallen steeply last month, to 4.36 million from 4.71 million in September. This would represent the ninth consecutive month of declines, from a recent peak of 6.49 million in January. Homebuyer demand has been heavily impacted by rising mortgage rates, with the average rate on a 30-year fixed-rate mortgage surging above 7% in recent weeks according to the Mortgage Bankers Association.