Week Ahead on Wall Street

Economic Data

Today, the New York Fed releases its 1-, 3-, and 5-year inflation expectations for October. This metric is important because consumers’ perceptions of rising prices are arguably just as important as inflation itself.

Tomorrow, we’ll get a look at the October PPI, or Producer Price Index. In September, this key measure of wholesale prices rose 0.4% month-over-month and 8.5% on an annual basis. Also, watch for the November Empire State Manufacturing Index, as well as real household and mortgage debt for the third quarter. In Q2, household debt sat at $16.15 trillion, with mortgage, auto loans, and credit card balances all increasing year-over-year.

Wednesday will be a hectic day with seven noteworthy economic reports due, including October’s retail sales, September’s business inventories, and the NAHB housing market index for November. In October, this survey of home builders’ sentiment signaled that builder confidence in the single-family home market is the lowest it has been in a decade.

On Thursday, the Philadelphia Fed manufacturing index for November, as well as October’s building permits and housing starts, will be released. The Labor Department will also publish initial and continuing jobless claims. With many major US companies announcing layoffs, it will be interesting to see which way official jobless claims are trending.

On Friday, October’s existing home sales will be published, clueing investors in as to whether or not we are entering a buyer’s real estate market. Also, watch for the Conference Board’s leading economic indicators report for October.

Earnings

Starting off the earnings week is Tyson Foods (TSN), one of the world’s largest meat processors. The company has been in the headlines recently after its CFO John Tyson was arrested for allegedly falling asleep in the wrong home while intoxicated.

Tomorrow, two heavy hitters in the retail space, Walmart (WMT) and Home Depot (HD), will provide insight into Americans’ spending habits. Investors will be watching Walmart in particular, as the world’s biggest retailer, for further insight amid an economic downturn.

Wednesday is the busiest day of the week, with reports due from NVIDIA (NVDA), Cisco (CSCO), Lowe’s (LOW), the TJX Companies (TJX), Target (TGT), and Advance Auto Parts (AAP). Target and TJX, the owner of TJ Maxx, will continue to help expand investors’ understanding of current trends in consumer spending.

On Thursday, Alibaba (BABA), BJ’s Wholesale Club (BJ), and Gap (GPS) are all scheduled to release reports. Alibaba, China’s biggest ecommerce company, will provide the market with a snapshot view of commercial activity from a global perspective.

On Friday, fellow Chinese ecommerce giant JD.com (JD) will release its Q3 earnings report. Following the recent Singles’ Day sales event, both JD.com and Alibaba will be in focus, as the two-week period is roughly comparable to our Black Friday.

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