Key Takeaways
- Markets are closed Thursday for Thanksgiving, with bond markets closing early at 2 p.m. EST on Friday.
- PCE Inflation for October is on tap for Wednesday. Third-quarter GDP, November Fed meeting minutes, consumer confidence and housing market data are also coming this week.
- Dell Technologies, CrowdStrike, HP, and Analog Devices will release their earnings reports before the Thanksgiving holiday.
Markets are closed on Thursday for the Thanksgiving holiday, while bond markets will close early on Black Friday, one of the biggest shopping days of the year.
Before that, investors will get key economic data on Wednesday with the release of the Personal Consumption Expenditures (PCE) inflation index for October. Third-quarter Gross Domestic Product (GDP) and minutes for the November meeting of the Federal Reserve will also attract investor interest. Consumer confidence and housing market data are also on tap.
Earlier in the week, earnings reports from tech firms Dell Technologies (DELL), CrowdStrike (CRWD), HP (HPQ), and Analog Devices (ADI) will be among the highlights of the corporate calendar.
Monday, Nov. 25
- Agilent Technologies (A), Zoom Video Communications (ZM), and Bath & Body Works (BBWI) report earnings
Tuesday, Nov. 26
- S&P Case-Shiller Home Price Index (September)
- Consumer confidence (November)
- New home sales (October)
- Minutes of the Federal Open Market Committee November meeting
- Analog Devices (ADI), Dell Technologies (DELL), CrowdStrike (CRWD), Workday (WDAY), Autodesk (ADSK), HP (HPQ), Best Buy (BBY), and Burlington Stores (BURL) report earnings
Wednesday, Nov. 27
- Initial jobless claims (Week ending Nov. 23)
- Durable-goods orders (October)
- Advanced retail inventories (October)
- Advanced wholesale inventories (October)
- 3Q Gross Domestic Product (first revision)
- Personal Consumption Expenditures (PCE) inflation index (October)
- Pending home sales (October)
Thursday, Nov. 28
Friday, Nov. 29
- Bond market closes at 2 p.m. EST
- Chicago Business Barometer (November)
PCE Inflation Data, Q3 GDP Updates, Fed Meeting Minutes Will Be Highlights of Thanksgiving Week
It’s a holiday-shortened trading week. On Thursday, markets are closed for Thanksgiving, while the bond market will close at 2 p.m. on Friday.
Investors will get a key inflation update on Wednesday with the release of the October Personal Consumption Expenditures (PCE) price index. The reading will follow September’s report showing that inflation was nearly at the Federal Reserve’s target of 2%. However, other measurements have indicated that price pressures could be edging higher, and Fed officials have said they will be closely watching inflation as they consider further lowering interest rates.
Also on Wednesday, the first revision to the third-quarter gross domestic product (GDP) will show whether there are any adjustments to initial estimates indicating that the economy grew 2.8% from the prior quarter.
On Tuesday, the Federal Reserve will release the minutes of the November meeting of the Federal Open Market Committee (FOMC). The report will provide details about the committee members’ discussion during the Nov. 6-7 meeting, during which officials voted to lower interest rates by a quarter percentage point, and may offer insights into what’s next for the Fed’s rate-cut plans.
The consumer confidence report on Tuesday will indicate the public’s reaction to the election of Donald Trump following the October survey which showed its biggest jump in three years. Tuesday will also feature several noteworthy housing reports, including the S&P Case-Shiller Home Price Index and data on new home sales.
Earnings Calendar Features Tech Firms Dell, HP, CrowdStrike
While there are fewer results due during the holiday-shortened week as earnings season winds down, several noteworthy technology companies will be disclosing their numbers.
On Tuesday, computer maker Dell Technologies (DELL) will deliver its quarterly earnings as analysts have become more enthusiastic about the company’s opportunity for long-term artificial intelligence (AI) gains. HP’s report on the same day will also highlight sales of AI-enabled PCs and servers, while tech sales will be a focus in the report from retailer Best Buy.
CrowdStrike’s earnings come as the cybersecurity provider’s share price recovers after it fell following a major service outage this summer.
Analog Devices will also report on Tuesday as the semiconductor maker looks to improve upon its prior quarterly report, where it reported a 25% year-over-year decline in revenue, which was better than estimates of analysts polled by Visible Alpha.
Laboratory supplies maker Agilent Technologies will report its quarterly earnings on Monday, along with Zoom Video Communications which posted better-than-expected profit and sales and set a record for customer retention in its prior quarter. Retailers Burlington Stores and Bath & Body Works also report this week.
