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What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)

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Moomoo Breakfast US wrote a column · Dec 4, 2022 19:30
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
It's a relatively quiet week on the earnings and economic data fronts, but with several notable releases still coming.
Earnings reports will include $AutoZone(AZO.US)$ on Tuesday, then $GameStop(GME.US)$, $Campbell Soup(CPB.US)$, and $Brown-Forman-B(BF.B.US)$ on Wednesday. On Thursday, $Costco(COST.US)$, $Chewy(CHWY.US)$, $Lululemon Athletica(LULU.US)$, and $Broadcom(AVGO.US)$ will release results.
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
Economic data out this week will include the Institute for Supply Management's Services Purchasing Managers' Index for November on Monday. Other economic data out this week will include the Bureau of Labor Statistics' producer price index for November. Also on Friday, the University of Michigan will release its Consumer Sentiment Index for December.
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
Monday 12/05
The Institute for Supply Management releases its Services Purchasing Managers' Index for November. The consensus estimate is for a 53.7 reading, slightly lower than October's 54.4.
Tuesday 12/06
$AutoZone(AZO.US)$ releases first-quarter fiscal-2023 results.
Wednesday 12/07
Thursday 12/08
$Costco(COST.US)$ reports first-quarter fiscal 2023 earnings. Shares of the membership-club discount retailer fell 7.3% this past week, as November sales, released on Wednesday, came up short of expectations.
$Broadcom(AVGO.US)$, $Chewy(CHWY.US)$, $Cooper Companies(COO.US)$, and $Lululemon Athletica(LULU.US)$ hold conference calls to discuss quarterly results.
The Department of Labor reports initial jobless claims for the week ending on Dec. 3. Jobless claims averaged 230,000 in November and have crept higher from historically low levels since earlier this March.
Friday 12/09
The Bureau of Labor Statistics releases the producer price index for November. Economists forecast the PPI to rise 7.2%, year over year, after an 8% jump in October. The core PPI, which excludes volatile food and energy prices, is expected to increase 5.9%, slower than the 6.7% gain previously. Softer-than-expected CPI and PPI readings in the past month have raised hopes that the Fed pivot—or at least pause—is almost here.
The University of Michigan releases its Consumer Sentiment Index for December. The consensus estimate is for a 56.8 reading.
Sectors Performance
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
What to Expect in the Week Ahead (PPI Data; COST, GME and LULU Earnings)
Source: Finviz, Dow Jones Newswires, Market Watch
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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