What to Expect in the Week Ahead (Jobs data, GDP, DG and PDD Earnings)

Moomoo Breakfast US wrote a column · Nov 27, 2022 20:00

What to Expect in the Week Ahead (Jobs data, GDP, DG and PDD Earnings)

Well-rested from the holiday-shortened week, investors will get another helping of earnings reports and economic indicators this week.

$PDD Holdings(PDD.US)$ will kick things off on Monday. $CrowdStrike(CRWD.US)$, $Hewlett Packard Enterprise(HPE.US)$, and $Intuit(INTU.US)$ will release earnings on Tuesday. Wednesday will see earnings from $Salesforce(CRM.US)$ and $Synopsys(SNPS.US)$, followed by $Dollar General(DG.US)$, $The Kroger(KR.US)$, $Marvell Technology(MRVL.US)$, and $Ulta Beauty(ULTA.US)$ on Thursday.

On the economic front, S&P CoreLogic will post the Case-Shiller National Home Prices Index for September on Tuesday. And the Conference Board will release its Consumer Confidence Index for November.

It's also a week for employment numbers, with the Job Openings and the November National Employment report from ADP on Wednesday. The Bureau of Economic Analysis will post personal income and expenditures for October on Thursday.

The November jobs report will close out the week on Friday. The consensus estimate is for nonfarm payrolls to rise by 200,000 and the unemployment rate to remain unchanged, at 3.7%.

Monday 11/28

The Federal Reserve Bank of Dallas releases the Texas Manufacturing Outlook Survey for November. The consensus estimate is for a negative 23 reading. The index has had negative readings for six consecutive months, suggesting contraction in the region's manufacturing sector.

Tuesday 11/29

$Bank of Nova Scotia(BNS.US)$, $CrowdStrike(CRWD.US)$, $Hewlett Packard Enterprise(HPE.US)$, and $Intuit(INTU.US)$ release quarterly results.

S&P CoreLogic releases its Case-Shiller National Home Price Index for September. The Conference Board releases its Consumer Confidence Index for November. Expectations are for a 100 reading, 2.5 points fewer than in October.

Wednesday 11/30

The Bureau of Labor Statistics releases the Job Openings. Economists forecast 10.5 million job openings on the last business day of October, about 200,000 fewer than in September.

$Hormel Foods(HRL.US)$, $Royal Bank of Canada(RY.US)$, $Salesforce(CRM.US)$, and $Synopsys(SNPS.US)$ announce earnings.

The Institute for Supply Management releases the Chicago Business Barometer for November. The report is expected to show about a two-point gain, to 47.3 from October's 45.2 reading. The index has had two straight months of readings below 50, indicating a shrinking economy.

ADP releases its National Employment Report for November. Expectations are that the economy added 200,000 private-sector jobs, after an increase of 239,000 previously.

Thursday 12/1

$Bank of Montreal(BMO.US)$, $Dollar General(DG.US)$, $The Kroger(KR.US)$, $Marvell Technology(MRVL.US)$, $The Toronto-Dominion Bank(TD.US)$, and $Ulta Beauty(ULTA.US)$ hold conference calls to discuss quarterly results.

The BEA reports personal income and expenditures for October. The Fed's favored inflation gauge, the core personal consumption expenditures price index, is forecast to have jumped 5%, year over year, slightly lower than September's 5.1%.

Friday 12/2

The BLS releases the jobs report for November. The consensus estimate is that nonfarm payrolls increased by 200,000, 61,000 fewer than in October.

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