Monday December 5, 2022: $146.63 -($1.18) -(0.80%)
Dec 5, 2022 2:26:05 GMT -8
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Post by Dave on Dec 5, 2022 2:26:05 GMT -8
Good morning Monday. What do you have to offer us today? Our pre-market is red at -0.14% at the moment.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, December 5, 2022
GitLab Inc. (GTLB), Freedom Holding Corp. (FRHC), and Sumo Logic (SUMO) report earnings
S&P Global Composite PMI - Final (Nov)
ISM Non-Manufacturing PMI (Nov)
Factory Orders (Oct)
Tuesday, December 6, 2022
BHP Group Limited (BHP), AutoZone (AZO), Ferguson PLC (FERG), Casey’s General Stores (CASY), Legend Biotech (LEGN), Toll Brothers Inc. (TOL), and HealthEquity Inc. (HQY) report earnings
U.S. Trade Balance (Oct)
Logistics Managers’ Index (LMI) (Nov)
Wednesday, December 7, 2022
Brown Forman Corp. (BF.A), Campbell Soup Company (CPB), Gamestop (GME), The Descartes Systems Group (DSGX), and HashiCorp (HCP) report earnings
Nonfarm Productivity (Q3 2022)
Consumer Credit (Oct)
Thursday, December 8, 2022
Costco (COST), Oracle Corp. (ORCL), Broadcom (AVGO), Lululemon Athletica (LULU), Chewy Inc. (CHWY), The Cooper Companies (COO), Vail Resorts (MTN), DocuSign Inc. (DOCU), Ciena Corp. (CIEN), and National Beverage Corp. (FIZZ) report earnings
Friday, December 9, 2022
Li Auto (LI) reports earnings
Wholesale Inventories (Oct)
Producer Price Index (PPI) Inflation (Nov)
University of Michigan Consumer Sentiment Index - Preliminary (Dec)
Federal Reserve Quarterly Financial Accounts Release
Producer Inflation Update
Next Friday, the Bureau of Labor Statistics (BLS) will issue its Producer Price Index (PPI) for November, tracking inflation from the standpoint of goods-producing businesses and wholesalers. Producer prices are projected to have risen 0.2% last month, at the same pace as the prior two months. On an annual basis, prices likely decelerated to a 7.2% annual growth rate, down significantly from 8% in October. Core producer prices, which exclude food and energy components, are projected to have risen 5.9% year-over-year, decelerating from a 6.7% gain in October that marked the slowest annual increase since July of 2021.
PPI inflation is often considered to be a bellwether for the trajectory of consumer inflation, as producer prices are often transferred over to consumers. A lower PPI inflation reading could indicate easing consumer prices over the coming months.
How Are Consumers Feeling?
Also on Friday, the University of Michigan will release the preliminary December reading of its Consumer Sentiment Index (MCSI), providing a timely update on consumer confidence. The index reading is projected to remain unchanged at 56.8, identical to the November reading. While consumer confidence as tracked by the MCSI has rebounded off a record low of 50 hit in June, the index remains near its all-time lows as high inflation, rising interest rates, and an economic slowdown impact U.S. consumers.
Monday, December 5, 2022
GitLab Inc. (GTLB), Freedom Holding Corp. (FRHC), and Sumo Logic (SUMO) report earnings
S&P Global Composite PMI - Final (Nov)
ISM Non-Manufacturing PMI (Nov)
Factory Orders (Oct)
Tuesday, December 6, 2022
BHP Group Limited (BHP), AutoZone (AZO), Ferguson PLC (FERG), Casey’s General Stores (CASY), Legend Biotech (LEGN), Toll Brothers Inc. (TOL), and HealthEquity Inc. (HQY) report earnings
U.S. Trade Balance (Oct)
Logistics Managers’ Index (LMI) (Nov)
Wednesday, December 7, 2022
Brown Forman Corp. (BF.A), Campbell Soup Company (CPB), Gamestop (GME), The Descartes Systems Group (DSGX), and HashiCorp (HCP) report earnings
Nonfarm Productivity (Q3 2022)
Consumer Credit (Oct)
Thursday, December 8, 2022
Costco (COST), Oracle Corp. (ORCL), Broadcom (AVGO), Lululemon Athletica (LULU), Chewy Inc. (CHWY), The Cooper Companies (COO), Vail Resorts (MTN), DocuSign Inc. (DOCU), Ciena Corp. (CIEN), and National Beverage Corp. (FIZZ) report earnings
Friday, December 9, 2022
Li Auto (LI) reports earnings
Wholesale Inventories (Oct)
Producer Price Index (PPI) Inflation (Nov)
University of Michigan Consumer Sentiment Index - Preliminary (Dec)
Federal Reserve Quarterly Financial Accounts Release
Producer Inflation Update
Next Friday, the Bureau of Labor Statistics (BLS) will issue its Producer Price Index (PPI) for November, tracking inflation from the standpoint of goods-producing businesses and wholesalers. Producer prices are projected to have risen 0.2% last month, at the same pace as the prior two months. On an annual basis, prices likely decelerated to a 7.2% annual growth rate, down significantly from 8% in October. Core producer prices, which exclude food and energy components, are projected to have risen 5.9% year-over-year, decelerating from a 6.7% gain in October that marked the slowest annual increase since July of 2021.
PPI inflation is often considered to be a bellwether for the trajectory of consumer inflation, as producer prices are often transferred over to consumers. A lower PPI inflation reading could indicate easing consumer prices over the coming months.
How Are Consumers Feeling?
Also on Friday, the University of Michigan will release the preliminary December reading of its Consumer Sentiment Index (MCSI), providing a timely update on consumer confidence. The index reading is projected to remain unchanged at 56.8, identical to the November reading. While consumer confidence as tracked by the MCSI has rebounded off a record low of 50 hit in June, the index remains near its all-time lows as high inflation, rising interest rates, and an economic slowdown impact U.S. consumers.