The Week Ahead
1. Geopolitical Events. On Thursday the Bank of Japan will release its November minutes. Congress is on break for the next several weeks, and President Obama is in Hawaii for Christmas vacation. Enjoy the silence of the season!
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications with Q3 GDP (final), durable goods, personal income, Michigan Sentiment and new home sales.
3. Earnings Releases. Notable releases include CTAS SCS NKE PAYX CAG MU CALM QIHU.
Monday, December 21:
None of note.
Tuesday, December 22:
Q3 GDP (final) is due out at 8:30 a.m. EST and is expected to drop to 2.0% from 2.1%.
Wednesday, December 23:
November Durable Goods are due out at 8:30 a.m. EST and are expected to drop to -0.2% from 2.9%.
At 8:30 a.m. EST, November Personal Income is due out and is expected to drop to 0.2% from 0.4%.
At 10:00 a.m. EST December Michigan Sentiment is due out and is expected to rise to 92 from 91.8.
November New Home Sales are due out at 10:00 a.m. EST and are expected to rise to 505,000 from 495,000.
Thursday, December 24:
The U.S. stock market closes at 1:00 p.m. EST for Christmas Eve. The U.S. bond market closes at 2:00 p.m. EST.
The latest NASDAQ and NYSE Short Interest Data is released and reflect data from November 24th through December 10th. During that time period, the S&P 500 fell -1.77%.
Friday, December 25:
Merry Christmas as markets around the world are closed!