A Quick Look at a Busy Week

A Quick Look at a Busy Week

Before we get into the week ahead, I want to point to the widespread ripple effect we’re seeing this Monday morning as protests in China, the most widespread in 30 years, have markets on edge. People are taking to the streets to express their frustration and anger toward the zero-tolerance COVID policies the country has imposed. We’ve got U.S. and global indices lower, which I guess one can understand when you consider the rally we saw in October was largely tied to expectations we’d see the extreme COVID measures ease—apparently not, with record cases reported last week. The events over the weekend have crude oil futures lower to 73.60, levels not seen in nearly a year as demand concerns sweep across markets.

 This week, we have a fair amount of earnings to keep an eye on in addition to the geopolitical headlines out of China. Companies reporting quarterly results include Snowflake SNOW, Intuit INTU, Workday WDAY, Petco WOOF, Five Below FIVE, Big Lots BIG, Zscaler ZS, Salesforce CRM, Dollar General DG, Kroger KR, and Ulta Beauty ULTA should be watched.

In terms of economic data, this week the focus will primarily be on labor conditions here in the U.S. with the monthly Non-Farm Payrolls due out Friday. But between now and then, keep an eye on the Dallas Fed’s report this morning and the housing data and consumer confidence figures due out tomorrow. We have ADP, GDP, and JOLTS Wednesday. On Thursday, jobless claims, personal income and spending numbers and PMI Manufacturing data are at the top of the list. So lot to watch there.

Lastly, don’t forget about the Fed speakers this week, with most of the attention on Jerome Powell—the Fed chair is in Washington Wednesday—investors will be looking to see if he provides any hint as to what’s to come in the upcoming December Fed meeting.

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