Wall Street week ahead: Investors to closely watch inflation, retail sales data | Stock Market News
Source: Live Mint
In past few days, Wall Street witnessed stock indices climbing to records after Republican candidate and former president Donald Trump resoundingly won the US election against Vice President Kamala Harris.
The US Federal Reserve’s latest quarter-point interest rate cut also boosted market sentiments.
In the week ahead, Wall Street will see a lot of economic events and some big companies reporting their earnings.
Among the economic data, investors will closely watch consumer inflation and retail sales numbers next week.
Economic calendar
On November 12 (Tuesday), a report on NFIB optimism index for October will be released.
On November 13 (Wednesday), data on Consumer Price Index (CPI) for October will be released.
On November 14 (Thursday), data on Producer Price Index (PPI) for October will be released. Federal Reserve Chair Jerome Powell will give a speech in Dallas, Texas.
On November 15 (Friday), separate reports on Empire State manufacturing survey for November, US retail sales for October, and industrial production for October will be released.
Earnings
Following companies are due to report third quarter earnings in the week ahead — Live Nation Entertainment, Aramark, Zeta Global Holdings, Talos Energy, Angi, Home Depot, AstraZeneca, Shopify, Spotify, Occidental Petroleum, Tyson Foods, Cisco Systems, Nu Holdings, Alcon, CyberArk Software, Tower Semiconductor, Walt Disney, Applied Materials, JD.com, Talen Energy, Advance Auto Parts, Alibaba Group Holding, Copart, Williams-Sonoma, and Spectrum Brands Holdings.
Stock markets
US stocks cruised to more records as they closed their best week in a year on Friday.
The Dow Jones Industrial Average rose 351.19 points, or 0.80 per cent, to 44,080.53. The S&P 500 gained 34.43 points, or 0.58 per cent, at 6,007.53 and the Nasdaq Composite advanced 35.69 points, or 0.18 per cent, to 19,305.15.
In the bond market, longer-term Treasury yields eased. The yield on the 10-year Treasury slipped to 4.30 per cent from 4.33 per cent.
