Week Ahead on Wall Street

By: James Flippin · December 05, 2022 · Reading Time: 3 minutes

Economic Data

Today, the ISM services index will be released for November. This monthly survey of non-manufacturing firms fell to 54.4 in October from 56.7 in September. That indicated the slowest growth within the sector since May 2020.

Tomorrow, the US trade deficit for October is due. In September, the trade gap increased to a three-month high of $73.3 billion. Our country’s deficit widened with the EU and with Mexico, but narrowed with China.

On Wednesday, the market will be paying close attention as October’s consumer credit numbers will be published. In September, credit cards and other sources of revolving credit rose 8.7%, down significantly from the 18.1% gain posted in August.

On Thursday, Wall Street will be watching the job market and studying how many Americans are filing first time claims for unemployment insurance. For the week ending November 26th, this metric decreased by 16,000 to 225,000, a steeper decline than expected. Continuing claims will also be published.

On Friday, the Producer Price Index report for the month of November is due. In October, the PPI rose just 0.2% month-over-month, signaling that wholesale inflation is holding relatively steady for the time being.


Today, biotechnology firm Veru (VERU) will publish its fourth-quarter results for fiscal 2022, as well as for the year as a whole. In November the company’s COVID-19 drug lost a split decision in front of an FDA advisory committee.

Tomorrow, AutoZone (AZO) and Dave & Busters (PLAY) will give us insight into how consumers are spending. As an entertainment company, Dave & Buster’s earnings report should be a good indicator of consumer confidence.

On Wednesday, reports are due from Vera Bradley (VRA), Campbell Soup Company (CPB), and GameStop (GME). In times of economic uncertainty, Campbell’s traditionally does well. With recessionary fears rising in the US, it will be illuminating to see how they performed over the last quarter.

Thursday will be the busiest day of the week on the earnings calendar, with Costco (COST), Lululemon (LULU), Chewy (CHWY), and DocuSign (DOCU) all sharing their latest results. Both Costco’s and Lululemon’s reports will give us a good idea of consumer spending at different price points, as the holiday shopping season continues.

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