Stock Market Outlook This Week: November 7th – November 11th
Thanks to last week’s FOMC meeting, Fed announcement, and, most importantly, Jerome Powell’s press conference, investors were on their heels at the end of the week. While the actual statement from the FOMC seemed a bit more dovish, Powell’s commentary erased whatever doves were flying by the late afternoon. One of the most notable comments made was when the Fed Chair said that the “inflation picture is becoming more challenging and narrows path to a soft landing.”
Employment data was a clear sticking point in the Fed’s fight against inflation & pending recession. However, Powell did mention that the pace of rate hikes could be on its way to slowing. He said, “that time is coming,” but it wasn’t obvious and will be data-dependant. To get a better picture of how the lag time is playing a role between policy moves and the impact on inflation, this week’s Consumer Price Index and employment data will take center stage.
The Stock Market This Week: Key Economic Data To Know November 7th – November 11th
What’s happening in the stock market this week? We’ll be talking about daily trends in penny stocks. But upcoming economic data and events are likely to drive broader momentum. The infographic below shows a schedule of some of the most influential catalysts this week. It includes the week’s prime time spot with the October CPI and the latest round of jobless claims. Against that backdrop, there will also be plenty of Fed and global central bank speakers throughout the week.
Stock Market News & Events On Monday, November 7, 2022
Monday will be all about Central Bank speakers from the ECB and FOMC. Long before the US markets open, the ECB’s Panetta & President Lagarde speak. No significant data read-outs come during the day. However, the FOMC’s Mester will begin speaking 20 minutes before the close. One thing to note is that earnings season is still going on, which could also become a factor influencing broader market sentiment this week.
Stock Market News & Events On Tuesday, November 8, 2022
Tuesday will see Eurozone retail sales for September come out soon after US markets open for premarket trading. We will also get a gauge for US retail activity with Redbook data coming out before the official US stock market opening bell. Red Book data shows sales-weighted year-over-year same-store sales trends. It can signal consumer spending and short and medium-term trends for retail investors and track a wide range of retail categories.[Learn More] Most Common Penny Stocks Technical Indicators to Use
Later in the day, Bank of England MPC member Pill speaks at 11 AM ET. We’ll also get some energy data from the EIA short-term energy outlook around noon. This outlook offers a forecast for consumption, supply, trading, and prices for different fuel types.
Stock Market News & Events On Wednesday, November 9, 2022
Wednesday starts to see things heat up on the speaking docket. Federal Reserve Bank of New York President John Williams gives keynote remarks before the SNB-FRB-BIS High-Level Conference on Global Risk, Uncertainty, and Volatility. Around the same time, you’ve got the ECB non-monetary policy meeting, followed by the ECB’s Elderson speaking at 5 AM ET. The Bank of England’s Monetary Policy Committee member Haskel gives remarks an hour and a half before the US markets open.
Oil and gas stocks take center stage around 10:30 AM ET with crude oil inventories. More Fed speak from Richmond President Thomas Barkin gets delivered around 11 AM ET. He gives opening remarkets and participates in a panel before the hybrid “Demystifying Inflation” dialogue held by the Richmond Federal Reserve Bank.
Rounding out the busy first half of the day is World Agricultural Supply & Demand estimates. The report offers USDA forecasts of supply-use balances of things like grains, cotton, soybean, and products. There are also data on the U.S. supply of sugar and livestock products. Considering the global food crisis thanks to geopolitical tensions in Russia, this report could play a role in particular food stuff-related stocks & commodities.
Stock Market News & Events On Thursday, November 10, 2022
Thursday is possibly one of the most important days of the week for data. Of course, October CPI and Core CPI, along with jobless claims data, will be center stage. Other than that, there are plenty of central bank speakers throughout the day, starting at 2 AM ET and going until after the market closes.
They include FOMC Waller, George, Williams, Mester, and Fed Presidents Harker and Logan (not listed). There will also be commentary from the ECB’s Enria and BOE MPC members Ramsden & Tenreyro. The Baker Hughes rig count comes out during the early afternoon session, which could also play its part in directional momentum for oil & gas stocks on Thursday.
Stock Market News & Events On Friday, November 11, 2022
Friday’s a bit quieter as far as U.S. data is concerned. Michigan Consumer sentiment is coming out at 10 AM ET. Meanwhile, look for early data from the UK and Germany on the global stage. UK Q3 GDP and September industrial & manufacturing production results are at 2 AM ET. Germany’s October CPI and Core CPI will also get released around the same time.[Learn More] Top Reasons You’re Not Making Money With Penny Stocks
BOE MPC Members Haskel &Tenreyro and ECB’s de Guindos, Panetta, and Lane also speak at various points throughout the morning on Friday.
Stock Market Outlook For The Week Ahead: 11/7 to 11/11
This week is about inflation data, and the next round of the US Consumer Price Index and Core CPI could give a glimpse into how the fed is doing. Last week’s gut check from Fed Chair Jerome Powell has pushed some investors to hit the reset button on their bullish sentiment. Meanwhile, more commentary and speaking engagements from central bank members could offer opportunities to observe candid discussions on an individual outlook of the economy.
Whether there’s a bigger stock market crash coming, a stock market rally, a recession that lasts well into 2023, higher inflation, or more sideways trading action, there are ways to make money trading in the stock market right now. The first thing to do is formulate a plan, and a weekly overview of pending events, economic data, and earnings can help.
Can You Make Money trading and investing in the stock market now? Yes. Can you make money during a bear market & stock market crash? Yes. Can you make money during the recession starting NOW and lasting well into 2023? Of course. What’s more, you can make money trading in the stock market even during some of the highest inflation in decades.
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Notable Earnings In The Stock Market This Week
Monday, November 7, 2022, Most Anticipated Earnings
- Activision Blizzard (ATVI)
- BioNTech (BNTX)
- Lyft Inc. (LYFT)
- Alpha Metallurgical Resources, Inc. (AMR)
- Five9 (FIVN)
- Franco-Nevada Corp. (FNV)
- Tata Motors (TTM)
- Take-Two Interactive Software (TTWO)
- Palantir Technologies (PLTR)
- NRG Energy (NRG)
- TripAdvisor (TRIP)
- Cronos Group (CRON)
- Hims & Hers Health (HIMS)
- Blue Apron Holdings (APRN)
- Freightcar America (RAIL)
- Mosaic Company (MOS)
Tuesday, November 8, 2022, Most Anticipated Earnings
- Walt Disney Company (DIS)
- Occidental Petroleum (OXY)
- Constellation Energy (CEG)
- DuPont de Nemours (DD)
- Lucid Group (LCID)
- NortonLifeLock (NLOK)
- Akamai Technologies (AKAM)
- Fidelity National Financial (FNF)
- The Carlyle Group (CG)
- News Corp. (NWS)
- Plug Power (PLUG)
- Norwegian Cruise Line (NCLH)
- Planet Fitness (PLNT)
- Affirm Holdings (AFRM)
- SunPower (SPWR)
- Sprouts Farmers Market (SFM)
- Squarespace (SQSP)
- GoodRx (GDRX)
- Sweetgreen (SG)
- Upstart Holdings (UPST)
- Novavax (NVAX)
- Lemonade (LMND)
- Opco Health (OPK)
- 3D Systems (DDD)
- Blink Charging (BLNK)
- Party City (PRTY)
- Shift Technologies (SFT)
- Sunworks (SUNW)
- AMC Entertainment Holdings, Inc. (AMC)
Wednesday, November 9, 2022, Most Anticipated Earnings
- Roblox Corporation (RBLX)
- The Trade Desk, Inc. (TTD)
- Rogers Communication, Inc. (RCI)
- Jazz Pharmaceuticals plc (JAZZ)
- Genpact Limited (G)
- Unity Software Inc. (U)
- STARWOOD PROPERTY TRUST, INC. (STWD)
- Applovin Corporation (APP)
- Hilton Grand Vacations Inc. (HGV)
- Wendy’s (WEN)
- SeaWorld Entertainment, Inc. (SEAS)
- Ringcentral (RNG)
- Bumble (BMBL)
- Rocket Lab USA, Inc. (RKLB)
- VIZIO Holding (VZIO)
- Dutch Bros (BROS)
- ZipRecruiter (ZIP)
- Canopy Growth (CGC)
- iRobot (IRBT)
- Cassava Sciences (SAVA)
- Digital Turbine (APPS)
- Fiverr International (FVRR)
- Rackspace Technology (RXT)
- Beyond Meat (BYND)
- Desktop Metal (DM)
- Bright Health Group (BHG)
- Traeger, Inc (COOK)
- Redfin Corporation (RDFN)
- Valens Semiconductor (VLN)
- Taboola.com (TBLA)
- MasterCraft Boat Holdings (MCFT)
- Blade Air Mobility (BLDE)
- BARK, Inc (BARK)
- RumbleOn (RMBL)
- 1stdibs.com, Inc (DIBS)
- CarParts.com, Inc (PRTS)
- Fossil Group (FOSL)
- FTC Solar, Inc (FTCI)
- PLBY Group, Inc (PLBY)
- BigBear.ai, Inc (BBAI)
- Nautilus Group, Inc (NLS)
- Wynn (WYNN)
Thursday, November 10, 2022, Most Anticipated Earnings
- AstraZeneca (AZN)
- NIO Inc. (NIO)
- Tapestry, Inc. (TPR)
- US Foods Holding Corp (USFD)
- Ralph Lauren Corporation (RL)
- Dillard’s, Inc (DDS)
- Ryan Specialty Holdings, Inc (RYAN)
- Wix.com Ltd (WIX)
- Duolingo, Inc (DUOL)
- YETI Holdings (YETI)
- Six Flags Entertainment (SIX)
- Warby Parker (WRBY)
- LegalZoom.com, Inc (LZ)
- Poshmark (POSH)
- Utz Brands (UTZ)
- Arhaus (ARHS)
- FIGS, Inc (FIGS)
- Moneygram International (MGI)
- Matterport (MTTR)
- Aurora Cannabis (ACB)
- Outbrain (OB)