Monday December 12, 2022: $144.49 +$2.33 +1.64%
Dec 12, 2022 2:40:38 GMT -8
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Post by Dave on Dec 12, 2022 2:40:38 GMT -8
Good morning as we start a new trading week. Or pre-market is green at +0.31% at this moment.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, December 12, 2022
Oracle Corp. (ORCL), Coupa Software Ltd. (COUP), and Fluence Energy Inc. (FLNC) report earnings
Consumer Inflation Expectations (Nov)
Tuesday, December 13, 2022
Core & Main Inc. (CNM), ABM Industries (ABM), and Braze Inc. (BRZE) report earnings
Consumer Price Index (CPI) Inflation Rate (Nov)
IBD/TIPP Economic Optimism Index (Dec)
NFIB Business Optimism Index (Nov)
Day 1 of FOMC Policy Meeting
Wednesday, December 14, 2022
Lennar Corp. (LEN), Trip.com Group (TCOM), and Nordson Corp. (NDSN) report earnings
Import Prices (Nov)
Export Prices (Nov)
Day 2 of FOMC Policy Meeting; Interest Rate Decision and Press Conference
Thursday, December 15, 2022
Adobe Inc. (ADBE), Jabil Inc. (JBL), and Scholastic Corp. (SCHL) report earnings
U.S. Retail Sales (Nov)
U.S. Industrial Production (Nov)
Philadelphia Fed Employment Index (Nov)
Philadelphia Fed Manufacturing Index (Dec)
NY Empire State Manufacturing Index (Dec)
Business Inventories (Oct)
Retail Inventories (Oct)
Friday, November 16, 2022
Accenture PLC (ACN), Darden Restaurants (DRI), and Winnebago Industries (WGO) report earnings
S&P Global Composite PMI - Flash Estimate (Dec)
Consumer Inflation Update
The Bureau of Labor Statistics (BLS) will release its Consumer Price Index (CPI) for November on Tuesday, offering the latest read on consumer inflation. Headline prices are projected to have risen 0.3% last month, decelerating slightly from a 0.4% gain in October. Year-over-year, prices likely rose 7.6%, down slightly from 7.7% in October and compared to a peak of 9.1% in June. Core inflation, which excludes food and energy costs, likely decelerated to a 6.2% annual rate last month, down from 6.3% in October and compared to a 40-year high of 6.6% in September.
FOMC's December Policy Meeting
Next Wednesday, the Federal Open Market Committee (FOMC), the interest rate-setting committee of the U.S. Federal Reserve, will conclude its December meeting on monetary policy. Fed officials are widely expected to hike interest rates by an additional 50 basis points (bps) in their ongoing effort to cool high inflation, setting the benchmark federal funds rate in a range of 4.25% to 4.5%. The Fed has raised its benchmark rate by a cumulative 375 bps so far this year, in the fastest tightening cycle in over four decades.
November Retail Sales
The U.S. Census Bureau will report on November retail sales, a key indicator of consumer spending, on Thursday. Retail sales are projected to have declined 0.1% in November, following an unexpectedly strong 1.3% gain in October that marked the highest monthly gain since February. Compared to the same period a year ago, sales likely rose 7.9%. Retail sales have remained robust this year despite higher prices that have diminished consumers’ purchasing power. The personal savings rate recently fell to 2.3%, the lowest since 2005, as consumers are spending a greater percentage of their disposable income to finance their purchases.
Monday, December 12, 2022
Oracle Corp. (ORCL), Coupa Software Ltd. (COUP), and Fluence Energy Inc. (FLNC) report earnings
Consumer Inflation Expectations (Nov)
Tuesday, December 13, 2022
Core & Main Inc. (CNM), ABM Industries (ABM), and Braze Inc. (BRZE) report earnings
Consumer Price Index (CPI) Inflation Rate (Nov)
IBD/TIPP Economic Optimism Index (Dec)
NFIB Business Optimism Index (Nov)
Day 1 of FOMC Policy Meeting
Wednesday, December 14, 2022
Lennar Corp. (LEN), Trip.com Group (TCOM), and Nordson Corp. (NDSN) report earnings
Import Prices (Nov)
Export Prices (Nov)
Day 2 of FOMC Policy Meeting; Interest Rate Decision and Press Conference
Thursday, December 15, 2022
Adobe Inc. (ADBE), Jabil Inc. (JBL), and Scholastic Corp. (SCHL) report earnings
U.S. Retail Sales (Nov)
U.S. Industrial Production (Nov)
Philadelphia Fed Employment Index (Nov)
Philadelphia Fed Manufacturing Index (Dec)
NY Empire State Manufacturing Index (Dec)
Business Inventories (Oct)
Retail Inventories (Oct)
Friday, November 16, 2022
Accenture PLC (ACN), Darden Restaurants (DRI), and Winnebago Industries (WGO) report earnings
S&P Global Composite PMI - Flash Estimate (Dec)
Consumer Inflation Update
The Bureau of Labor Statistics (BLS) will release its Consumer Price Index (CPI) for November on Tuesday, offering the latest read on consumer inflation. Headline prices are projected to have risen 0.3% last month, decelerating slightly from a 0.4% gain in October. Year-over-year, prices likely rose 7.6%, down slightly from 7.7% in October and compared to a peak of 9.1% in June. Core inflation, which excludes food and energy costs, likely decelerated to a 6.2% annual rate last month, down from 6.3% in October and compared to a 40-year high of 6.6% in September.
FOMC's December Policy Meeting
Next Wednesday, the Federal Open Market Committee (FOMC), the interest rate-setting committee of the U.S. Federal Reserve, will conclude its December meeting on monetary policy. Fed officials are widely expected to hike interest rates by an additional 50 basis points (bps) in their ongoing effort to cool high inflation, setting the benchmark federal funds rate in a range of 4.25% to 4.5%. The Fed has raised its benchmark rate by a cumulative 375 bps so far this year, in the fastest tightening cycle in over four decades.
November Retail Sales
The U.S. Census Bureau will report on November retail sales, a key indicator of consumer spending, on Thursday. Retail sales are projected to have declined 0.1% in November, following an unexpectedly strong 1.3% gain in October that marked the highest monthly gain since February. Compared to the same period a year ago, sales likely rose 7.9%. Retail sales have remained robust this year despite higher prices that have diminished consumers’ purchasing power. The personal savings rate recently fell to 2.3%, the lowest since 2005, as consumers are spending a greater percentage of their disposable income to finance their purchases.