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The week ahead for investors December 18, 2023

by 18. Dec 2023 @ 11:54News, The week ahead

Snapshot: The Week Ahead in Markets

This week, market attention focuses on key economic data, including the PCE inflation index, alongside vital insights from the housing sector and consumer sentiment, capped with earnings reports from industry heavyweights.

 

Key Takeaways

  • The Personal Consumption Expenditures (PCE) for November, due on Friday, will offer a crucial gauge of inflation trends.
  • Key housing market data, such as homebuilder confidence and home sales, to shed light on sector strength.
  • The final 2023 Michigan Consumer Sentiment Index for December, to reflect public economic outlook.
  • Earnings reports from Nike, Accenture, FedEx, Micron Technology, and CarMax are on the agenda.

Week’s Highlights and Analysis

This week presents a convergence of significant economic indicators and corporate earnings. The PCE index on Friday will be pivotal for understanding inflation’s trajectory. Simultaneously, comprehensive housing data will illuminate the sector’s current state. The week will also offer insights into consumer sentiment, while earnings from major players like Nike and FedEx will influence market sentiment.

 

Week of Dec. 18:

Monday, December 18

  • Heico Corp. (HEI) earnings report.
  • Homebuilder confidence index for December.

Tuesday, December 19

  • Accenture (ACN) and FedEx (FDX) earnings.
  • Housing starts and building permits data for November.

Wednesday, December 20

  • Earnings from Micron Technology (MU) and General Mills Inc. (GIS).
  • U.S. current account for the third quarter and existing home sales for November.

Thursday, December 21

  • Nike (NKE), Cintas Corp. (CTAS), Paychex Inc. (PAYX), CarMax (KMX), and Carnival Corp. (CCL) earnings.
  • Initial jobless claims, third quarter GDP revision, and Philadelphia Fed manufacturing survey for December.
  • U.S. leading economic indicators for November.

Friday, December 22

  • Personal Consumption Expenditures (PCE) index for November.
  • Durable goods orders, S&P flash U.S. services and manufacturing PMI, and new home sales for November.
  • Consumer sentiment final reading for December.

Deeper Insight

PCE Reading: A Critical Indicator for Fed’s Monetary Policy

As the Federal Reserve hints at pausing its rate hike campaign, the PCE index for November becomes a focal point. This data will reveal if inflation continues to ease, complementing the CPI’s recent dip to 3.1% in November. A further reduction in PCE, currently above the Fed’s 2% target, could strengthen the case for upcoming rate cuts.

Retail Sector in Focus Ahead of Christmas

Amidst a crucial shopping period, retail sales data and earnings reports from giants like Nike will offer insights into consumer spending trends. This week, which includes some of the busiest shopping days of the year, will be crucial for retailers aiming to surpass projections, especially in light of mixed forecasts for the holiday season.

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