Snapshot: The Week Ahead
As December unfolds, we turn our attention to significant labor market data, tech advancements, and notable earnings reports.
Key Takeaways
- Extensive labor market insights this week with new job figures, unemployment rates, and private sector payroll data.
- GameStop to release its first earnings report under CEO Ryan Cohen, potentially impacting the “meme stock” market.
- Advanced Micro Devices set to unveil its latest AI chip, while Microsoft and Cisco Systems host shareholder meetings.
- Additional economic data including factory orders, trade deficit updates, and consumer credit reports will be closely monitored.
Week’s Highlights and Analysis
This week promises a rich tapestry of economic and corporate narratives. Key labor market data will offer insights into the Fed’s inflation fight, with the Friday employment report being a focal point. GameStop’s earnings under new leadership and AMD’s AI chip launch signify pivotal moments in tech and retail. The week’s data will collectively shape market expectations and investor strategies as we approach year’s end.
Week of Dec. 4:
Monday, December 4
- Earnings from SAIC and Gitlab.
- MGM Resorts International update event and factory orders for October.
Tuesday, December 5
- AutoZone earnings report.
- Johnson & Johnson business review event and ISM services for November.
- Job openings data for October.
Wednesday, December 6
- Chewy, GameStop, and C3 earnings.
- Cisco Systems’ annual shareholder meeting.
- AMD’s AI-focused MI300 GPU chip launch.
- ADP employment report and U.S. productivity revisions.
- U.S. trade deficit for October.
Thursday, December 7
- Earnings from Broadcom, Lululemon, and Dollar General.
- Microsoft’s annual shareholder meeting.
- Domino’s investor day.
- Initial jobless claims and wholesale inventories for October.
- Consumer credit report for October.
Friday, December 8
- Consumer sentiment for December and U.S. employment report for November.
Fed Looking at Job Numbers to Gauge Inflation Fight
This week, a plethora of labor market data will be scrutinized to gauge the impact of the Fed’s interest rate hikes on employment. Recent dips in inflation raise hopes for a balanced approach between controlling inflation and sustaining job growth. October’s employment data showed a moderated job addition of 150,000, hinting at a cooling labor market that aligns with the Fed’s objectives. The focus now turns to November’s employment figures, with close attention on job additions, wage growth, and the unemployment rate, which slightly increased last month to 3.9%.
Meme Stock GameStop Looking to Improve Momentum
GameStop, a central figure in the “meme stock” phenomenon, steps into the spotlight with its earnings report under the new leadership of CEO Ryan Cohen. The report is expected to reflect the company’s ongoing shift towards digital sales in the evolving gaming industry. With its stock recently experiencing a notable surge, the earnings report will be critical in assessing GameStop’s current market position and future direction.
New AMD Chip Launch to be Latest AI Chip Development
AMD’s “Advancing AI” event this Wednesday marks a significant moment in the AI hardware landscape with the launch of the MI300 GPU chip, designed for data center AI applications. This development underscores AMD’s growing role in AI technology, rivaling Nvidia’s recent AI chip endeavors. Amidst evolving U.S. export regulations, AMD’s launch is a key event for tech market observers, reflecting the competitive dynamics in the AI chip industry.
Want to compare brokerages? Best place to buy stocks Forex, Commodities, Indices
Top 5 List
Find the best online trading platform in our top 5 ranking list.
