Stock Market Outlook This Week: November 28th – December 2nd
Ready to make money trading in the stock market this week? Whether you’re looking for penny stocks to buy or dividend stocks to invest in, knowing what’s coming for the week ahead can help give you an edge. In this volatile stock market environment, it helps when it comes time to react to the results of economic reports or central bankers speaking. This week is undoubtedly full of both.
Inflation and monetary policy are clearly at the top of mind for economists and investors alike. The state of the market has rested heavily on the outcomes of monthly data, and this week will be no different. Will we see the Santa Claus rally begin as many have hoped?
Despite being a topsy-turvy week last week, the markets finished higher compared to where they began on Monday. But Friday’s extra-light volume had some wondering if this has just been a melt-up or if the move can be trusted.
The Stock Market This Week: Key Economic Data To Know November 28th – December 2nd
One thing is for sure, the entire market will look to hear what Fed Chair Jerome Powell has to say on Wednesday. His press conference following a relatively dovish November Fed Meeting statement subdued most of the optimism discussed by Fed members. However, the latest round of CPI and PPI inflation data supported the idea that policy measures may have started working.
With employment data, GDP, and global inflation data coming out in the week ahead, having a trading game plan to wade through whatever waves happen will be crucial. You also can’t forget earnings season continues. Though it’s a much lighter week, there are still plenty of companies whose results can impact daily trends in the stock market.
Stock Market News & Events On Monday, November 28, 2022
As far as top stock market events for Monday, November 28th, go, it’s a much lighter day. We will see central bankers speaking throughout the morning and lunch hour. The ECB’s McCaul and President Lagarde come out with comments by 9 AM ET. Meanwhile, the FOMC’s Bullard and Williams speak beginning around noon.
Stock Market News & Events On Tuesday, November 29, 2022
Tuesday will see the beginning of international economic data released, including Germany’s November CPI and China’s PMI. The U.S. September Housing Price Index, Redbook, Consumer Confidence for November, and API Crude report also come out on November 29th. There will also be plenty of speaking engagements from global central bankers, including the ECB’s De Guindos & Schnabel and the Bank of England’s Mann & Bailey.
Stock Market News & Events On Wednesday, November 30, 2022
Wednesday’s schedule could be one of the more notable for the week. Of course, Fed Chair Powell’s speaking engagement will be followed closely in the afternoon. But there are plenty of other data points and central bankers speaking that could move markets.
The ECB’s monetary policy meeting kicks off early and is immediately followed by German unemployment data and words from the Bank of England’s Pill. Eurozone CPI and Core CPI for November could give clues on the impacts of global monetary tightening. Meanwhile, ADP non-farm employment data, Q3 GDP, Retail inventories, and Q3 Core PCE could get weighed against the direction taken by monetary policymakers.
Later in the morning, US JOLTs, pending home sales, and crude inventories come out. Leading up to Powell’s speech, the Fed’s Cook will comment at the Detroit Economic Club’s event, “The Outlook for Monetary Policy and Observations on the Evolving Economy.”
Stock Market News & Events On Thursday, December 1, 2022
More data flows on Thursday, with Eurozone Manufacturing PMI, UK Manufacturing PMI, and Germany Manufacturing PMI getting released right before U.S. markets open for premarket trading. Eurozone unemployment will likely be compared to U.S. data reported a day earlier, along with Thursday’s jobless claims and Challenger job cuts data.
There’s also October PCE and Core PCE data that will get watched closely. Analysts forecast a readout of 5.0% for Core PCE. The market will closely watch personal spending for October as another factor for inflation and the overall impact of the latest monetary policy decision made by the Fed. November PMI and, ISM PMI & employment data will come out just after markets open on Thursday and could bring plenty of volatility with it.
Regarding central bankers speaking, we can look to the second half of the Thursday session for potential catalysts. The ECB’s Lane and Elderson speak between 11:45 AM and 12:30 PM ET. ECB President Lagarde will give comments much later during the 9 o’clock hour Thursday evening. US speakers include FOMC Bowman and Fed Bar.
Stock Market News & Events On Friday, December 2, 2022
Friday slows down compared to the wave of action on Wednesday and Thursday. We’ll get Eurozone PPI for October and US non-farm payrolls, participation rate, unemployment rate, and hourly earnings before U.S. markets open. The ECB’s De Guindos also gives comments early in the premarket session on December 2nd.
The Fed’s Evans speaks shortly after the 9:30 AM ET bell rings. Other than that, some commodity data from the latest Baker Hughes rig count will have energy stocks on watch. Long after the final closing bell of the week rings, ECB President Lagarde will speak at 9:30 PM ET.
What else should you prepare for in the stock market this week, and how should you be positioned to capitalize on the opportunities that come with it? Find out LIVE when you tune in to True Trading Group’s Stock Market LIVE Stream tonight on YouTube & Get Ready to Learn, Trade & Profit!
Notable Earnings In The Stock Market This Week
Monday, November 28, 2022, Most Anticipated Earnings
- Pinduoduo (PDD)
- H World Group Limited (HTHT)
- Arrowhead Pharmaceuticals (ARWR)
- Organigram Holdings (OGI)
- JOYY Inc. (YY)
- Anavex Life Sciences (AVXL)
- Flora Growth Corp. (FLGC)
Tuesday, November 29, 2022, Most Anticipated Earnings
- Intuit Inc. (INTU)
- Workday Inc. (WDAY)
- CrowdStrike Holdings Inc. (CRWD)
- Hewlett Packard Enterprise (HPE)
- NetApp (NTAP)
- Shaw Communications (SJR)
- Elbit Systems (ESLT)
- Bilibili Inc. (BILI)
- Hibbet Inc. (HIBB)
- Bank of Nova Scotia (BNS)
- Elbit Systems (ESLT)
Wednesday, November 30, 2022, Most Anticipated Earnings
- Salesforce, Inc. (CRM)
- Royal Bank Of Canada (RY)
- Synopsys, Inc (SNPS)
- Snowflake Inc (SNOW)
- KE Holdings Inc (BEKE)
- Splunk Inc (SPLK)
- Pure Storage, Inc. (PSTG)
- Okta, Inc. (OKTA)
- Five Below, Inc. (FIVE)
- Donaldson Company, Inc. (DCI)
- Nutanix, Inc. (NTNX)
- XPeng Inc. (XPEV)
- Elastic N.V. (ESTC)
- BRP Inc. (DOOO)
- PVH Corp. (PVH)
- Box, Inc (BOX)
- Victorias Secret & Co. (VSCO)
- nCino, Inc. (NCNO)
- Leslie’s, Inc. (LESL)
- Petco Health and Wellness Company, Inc. (WOOF)
- Credo Technology Group Holding Ltd (CRDO)
- Semtech Corporation (SMTC)
- La-Z-Boy Incorporated (LZB)
- Perfect Corp. (PERF)
- Titan Machinery Inc. (TITN)
- Build-A-Bear Workshop, Inc (BBW)
Thursday, December 1, 2022, Most Anticipated Earnings
- Toronto Dominion Bank (TD)
- Bank Of Montreal (BMO)
- Dollar General Corporation (DG)
- Canadian Imperial Bank of Commerce (CM)
- Marvell Technology, Inc (MRVL)
- Kroger Company (KR)
- Veeva Systems Inc. (VEEV)
- Ulta Beauty, Inc. (ULTA)
- Zscaler, Inc. (ZS)
- UiPath, Inc (PATH)
- Samsara Inc. (IOT)
- ChargePoint Holdings (CHPT)
- Asana, Inc. (ASAN)
- Smartsheet Inc (SMAR)
- REX American Resources Corporation (REX)
- Patterson Companies, Inc. (PDCO)
- Ambarella Inc. (AMBA)
- Methode Electronics (MEI)
- Designer Brands Inc. (DBI)
- Global Blue Group Holding (GB)
- SecureWorks Corp. (SCWX)
- Big Lots (BIG)
- Zumiez (ZUMZ)
- Land’s End (LE)
- Renesola (SOL)
- Duluth Holdings (DLTH)
- Tilly’s Inc. (TLYS)