The Week Ahead For November 22nd to 26th

by Geoff Garbacz | 11/21/2021 7:15 PM
The Week Ahead For November 22nd to 26th

November 22, 2021

The S&P 500 and NASDAQ 100 were higher and Russell 2000 and Dow Jones Industrial Average were lower for the second time in six weeks.

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 at the end of last week. Soon the debt ceiling will be front and center with a new drop dead date in mid December. Also, we get news on the next Federal Reserve Chairman. Will it be Powell or Brainard? The latest FOMC Minutes are also due out.

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 existing home sales, Q2 GDP (second estimate), durable orders, personal income, PCE Prices – Core, new home sales, University of Michigan Consumer Sentiment (final) and FOMC Minutes.

3. Earnings Releases. Notable releases this upcoming week include ZM A MDT ADI DE PDD.

Monday, November 22nd

October Existing Home Sales is due out at 10:00 a.m. EST and is expected to rise to 6.20 Million from 60.29 Million.

Tuesday, November 23rd

None of note.

Wednesday, November 24th

Q3 GDP (second estimate) are due out at 8:30 a.m. EST and are expected to rise to 2.2% from 2.0%.

October Durable Orders are due out at 8:30 a.m. EST and are expected to rise to 0.2% from -0.4%.

October Personal Income is due out at 10:00 a.m. EST and is expected to rise to 0.2% from -0.1%

October PCE Prices Core is due out at 10:00 a.m. EST and is expected to rise to 0.4% from 0.2%.

October New Home Sales are due out at 10:00 a.m. EST and are expected to remain at 800,000.

November University of Michigan Consumer Sentiment (final) is due out at 10:00 a.m. EST and is expected to remain at 66.80.

The latest FOMC Minutes are due out at 2:00 p.m. EST.

The latest NYSE and NASDAQ Short Interest Data are due out after the close for short interest data through November 15th. Thursday, November 25th

Markets are closed for Thanksgiving as we give thanks.

Friday, November 26th

Equity Markets will close early at 1:00 p.m. EST. The Bond Market closes at 2:00 p.m. EST.

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