The Week Ahead on Wall Street: FOMC Decision and FedEx Earnings
While the holidays are quickly approaching, there’s no shortage of news to keep market watchers on their toes in this upcoming week.
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Thursday appears to be the big day with the Bank of Japan releasing its quarterly “tankan” survey, which is a measure of sentiment and expectations across the nation’s businesses. Results are expected to be gloomy.
Also on Thursday in China, HSBC will announce preliminary results of its monthly manufacturing survey. This is also likely to paint a contraction picture.
India will be the focus of Friday’s news with its central bank, the Reserve Bank of India, making a rate decision. At its recent October meeting, the bank raised interest rates by a quarter point.
In corporate earnings, Japan-based Olympus Corp. (OCPNF) will report quarterly earnings or incur a delisting from the Tokyo Stock Exchange in response to its recent accounting scandal and cover-up.
Olympus has said they’ll file financial statements by Dec. 14.
Back in the U.S.
The U.S. markets will keep their eye on the Federal Reserve’s policy decisions, any European happenings debt crisis-related and November retail sales numbers.
Another potential market mover could be Thursday’s first-time jobless claims numbers for the week ending Dec. 10. These numbers will come one week after first-time claims dropped to 381,000, representing the lowest figures since February.
Earnings have quieted down but there’s still a short list along with a slew of economic numbers for Thursday.
Economic Numbers and Fed Speak
Tuesday: November’s NFIB Small Business Optimism Index, November Retail Sales and FOMC Decision.
Wednesday: November Import and Export Prices and Atlanta Fed President Dennis Lockhart speech.
Thursday: December Flash PMI for the Euro Zone, Germany and France, Empire State Manufacturing Survey for December, November PPI November, Weekly Jobless Claims, October TIC data, Industrial Production and Capacity Utilization for November and Philadelphia Fed Business Outlook Survey for December.
Friday: ECB President Mario Draghi speech and November CPI.
Tuesday: Best Buy (NYSE:BBY).
Wednesday: Joy Global (NASDAQ:JOYG).
Friday: Darden Restaurants (NYSE:DRI).
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