Today, watch for the Chicago Fed’s National Activity Index for October. This report is designed to gauge overall economic activity, as well as the impact of inflation. The index held steady in September.
Tomorrow, the Redbook Index will be released, which measures same-store sales growth across roughly 9,000 different retailers, year-over-year. This metric increased by 6.8% in the week ending November 12.
On Wednesday, all investor eyes will be on the release of the Federal Open Market Committee meeting minutes. During its November meeting earlier this month, the Fed raised interest rates for the sixth consecutive time, bringing the federal funds rate to a range of 3.75% to 4%. Also, watch for last month’s new home sales, as well as its durable goods orders.
On Thursday, the stock market will be closed for the Thanksgiving holiday and there are no major economic reports due.
On Friday, the stock market closes early as well, and no major economic data will be published.
Tomorrow is the earnings calendar’s busiest day of the week, with reports due from several major retailers, including American Eagle (AEO), Abercrombie & Fitch (ANF), Nordstrom (JWN), Best Buy (BBY), Dick’s Sporting Goods (DKS), and Dollar Tree (DLTR). These results will give investors a better sense of where consumer spending is headed, and what sentiment looks like heading into the holidays.
On Wednesday, heavy equipment manufacturer John Deere (DE) will hold a call with analysts to discuss its earnings. Last week, the company received two CES® Innovation Awards from the Consumer Technology Association for work in robotics and in vehicle intelligence.
With Thursday’s Thanksgiving holiday and Black Friday rounding out the week’s calendar, no major earnings reports are scheduled for release. Black Friday remains an extremely important day for the retail sector, although online shopping has diminished that to an extent.
Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.