Wall Street will observe a holiday-shortened week due to Thanksgiving falling on Thursday. The stock market will close early on Friday.
Market participants still have a fairly busy economic calendar to look forward to, especially on Wednesday, which will see a flood of releases in the form of initial jobless claims, an updated estimate on U.S. GDP growth, and the October personal income and outlays data. That report will also contain a reading on the core personal consumption expenditures price index – widely seen as the Federal Reserve’s favored inflation gauge.
Speaking of the Fed, the minutes of its November monetary policy committee meeting will be released on Tuesday. The odds of the central bank delivering another rate cut in December is now a toss-up, after chair Jerome Powell ten days ago said the economy was not “sending any signals that we need to be in a hurry to lower rates.”
Turning to the earnings season, there are a few major names on tap to announce their numbers, including Dell (DELL), CrowdStrike (CRWD) and Analog Devices (ADI). Traders will also see a high-profile IPO this week in the form of Chinese robotaxi player Pony AI (PONY). The autonomous driving firm upsized its offering to 20M American depositary shares and expects to price it between $11 and $13 each, aiming for a valuation of up to $4.6B.
Earnings spotlight: Monday, November 25 – Agilent Technologies (A), Zoom Video Communications (ZM), Woodward (WWD), Bath & Body Works (BBWI), and Semtech (SMTC). See the full earnings calendar.
Earnings spotlight: Tuesday, November 26 – Analog Devices (ADI), Dell Technologies (DELL), CrowdStrike Holdings (CRWD), Guess? (GES), Manchester United (MANU), Workday (WDAY), and Autodesk (ADSK). See the full earnings calendar.
Earnings spotlight: Wednesday, November 27 – Patterson Companies (PDCO), Zuora (ZUO) and Frontline (FRO). See the full earnings calendar.
Earnings spotlight: Friday, November 29 – MINISO Group Holding (MNSO). See the full earnings calendar.
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