The Week Ahead As We Move Into December Trading
1. Geopolitical Events. On Tuesday Federal Reserve New York President William Dudley will speak in Puerto Rico at 9:15 a.m. EST; Federal Reserve Vice Chairman Stanley Fisher will speak at 7:45 a.m. EST. On Wednesday Federal Reserve Dallas President Rob Kaplan will speak at 8:00 a.m. EST. Cleveland Federal Reserve President Loretta Mester will speak at 12:35 p.m. EST. Also on Wednesday OPEC will hold its annual meeting in Vienna. The latest Federal Reserve Beige Book is out on Wednesday as well. On Thursday Federal Reserve Cleveland President Loretta Mester will speak for a second time at 8:30 a.m. EST.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and consumer confidence, personal income, Chicago PMI, ADP Payroll, construction spending, ISM Manufacturing PMI, nonfarm payroll and the unemployment rate.
3. Earnings Releases. Notable releases include ZTO THO BNS ADSK RY SNPS TD KR BIG FRED.
Monday, November 28:
Cyber Monday follows up Black Friday. So far it seems consumers are spending. Retailing is ranked 5 out of 24 in our sector ranks.
Tuesday, November 29:
Federal Reserve Vice Chairman Stanley Fisher speaks at 7:45 a.m. EST.
Q3 GDP (preliminary) is due out at 8:30 a.m. EST and is expected to remain at 2.9%.
November Consumer Confidence is due out at 10:00 a.m. EST and is expected to rise to 100 from 98.6.
Wednesday, November 30:
October Personal Income is released at 8:30 a.m. EST and is expected to increase to 0.4% from 0.3%.
ADP Payroll Data is due out at 8:15 a.m. EST and is expected to rise to 160,000 from 147,000.
November Chicago PMI is released at 9:45 a.m. EST and is expected to rise to 52.5 from 50.6.
The latest Federal Reserve Beige Book is due out at 2:00 p.m. EST.
Thursday, December 1:
October Construction Spending is due out at 10:00 a.m. EST and is expected to improve to 0.6% from -0.4%.
At the same time, November ISM Manufacturing PMI is due out and is expected to rise to 52.2 from 51.90.
Friday, December 2:
November Nonfarm Payroll is due out at 8:30 a.m. EST and is expected to rise to 171,500 from 161,000. The unemployment rate is expected to stay at 4.90%.
STOCK SPLITS OF NOTE
Cowen Group (COWN) has a reverse split payable on December 2nd with an ex-date of December 5th.The stock will have a reverse 1-4 split.