Market Overview

Monday's Market Minute: Previewing The Holiday Week

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Monday's Market Minute: Previewing The Holiday Week

Let’s take a minute to get ahead of a busy week to come. First, don’t forget we have holiday trading hours for many products this Wednesday, Thursday, and Friday, so be sure to check the schedule and be aware of any changes to trading hours for the products you have positions in. Now, in terms of the week ahead, we have lots of closely-watched economic data.

On Monday: Chicago Fed National Activity Index and the PMI Composite Flash. Tuesday, we have the Richmond Fed Manufacturing Index, some housing data, and Consumer Confidence. Wednesday, GDP, Durable Goods Orders, Personal Income and Spending, and Jobless Claims will be the primary focal points.

As far as companies reporting quarterly results, it’s another week with the focus on retailers and tech. Keep an eye on Urban Outfitters, Inc. (NASDAQ: URBN) Monday after the bell. Tuesday, Best Buy Co Inc (NYSE: BBY), Dick’s Sporting Goods Inc (NYSE: DKS), Abercrombie & Fitch Co. (NYSE: ANF), Gap Inc (NYSE: GPS), and Nordstrom, Inc. (NYSE: JWN) report. We also have John Deere & Company (NYSE: DE), Dell Technologies Inc (NYSE: DELL), Autodesk, Inc. (NASDAQ: ADSK), and HP Inc (NYSE: HPQ) reporting quarterly results and potentially moving markets or shifting investor sentiment. Also, keep an eye on Soy Beans and Copper, both trading at multi-year highs with the U.S. Dollar near a multi-year low, as a weaker dollar tends to boost commodity prices.

The coronavirus numbers on the rise are being overshadowed by optimism tied to multiple coronavirus vaccines in the works and potentially in distribution soon. Global indices are pointed north to begin the week, but with the holiday abbreviated schedule don’t get lulled into a false sense of complacency. Stay on top of market headlines – the market movers mentioned above – and have a wonderful safe holiday.

Photo by Timothy Eberly on Unsplash

 

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Posted-In: Best Buy Co. Dicks Sporting GoodsEarnings News Small Cap Economics Markets General