The Week Ahead
The S&P 500, NASDAQ 100, Russell 2000 and Dow Jones Industrial Average were lower for the week thanks to the Friday meltdown.
1.Geopolitical and Fiscal Events. The games continue in Washington D.C. as the House, Senate and President try to hammer out the Budget Reconciliation Bill which passed the House two weeks ago. Soon the debt ceiling will be front and center with a new drop dead date in mid December.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as pending home sales, consumer confidence, ADP Employment Index, ISM Manufacturing PMI Index, construction spending, Federal Reserve Beige Book, nonfarm payrolls, unemployment rate, factory orders and ISM Non-Manufacturing Index.
3.Earnings Releases. Notable releases this upcoming week include KFY CRM BNS ZS RY CRWD TD MRVL BMO BIG.
Monday, November 29th
October Pending Sales is due out at 10:00 a.m. EST and is expected to rise to -0.7% from -2.3%.
Tuesday, November 30th
November Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 111 from 113.80.
Wednesday, December 1st
November ADP Employment Index is due out at 8:15 a.m. EST and is expected to fall to 515,000 from 568,000.
November ISM Manufacturing Index is due out at 10:00 a.m. EST and are expected to fall to 61 from 61.1%.
October Construction Spending is due out at 10:00 a.m. EST and is expected to rise to 0.4% from 0.0%
The Federal Reserve Beige Book is due out at 2:00 p.m. EST.
Thursday, December 2nd
None of note.
Friday, December 3rd
November Nonfarm Payrolls is due out at 8:30 a.m. EST and the unemployment rate is expected to drop to 4.5% from 4.6%.
October Factory Orders is due out at 10:00 a.m. EST and is estimated to rise to 0.4% from 0.2%.
November ISM Non-Manufacturing Index is also due out at 10:00 a.m. EDT and is estimated to rise to 65% from 61.9%.