Before the week grinds to a halt for the Christmas holiday, market watchers will again look to Europe for news. The week will begin with remarks by ECB President Mario Draghi to the European Parliament’s Committee on Economic and Monetary Affairs on Monday. Investors will also keep their eyes on Italian and Spanish bond yields.
Over in Asia, Japan will take center stage on Wednesday with trade data and a central bank meeting. Japan’s Finance Ministry will release November trade numbers that will reflect if the trade account is in either a surplus or deficit.
Later that day, the Bank of Japan will announce news from its policy meeting.The central bank is expected to keep its policy interest rate target unchanged in the 0-0.1 percent range, but it could either announce additional easing measures, or adjustments to its economic outlook.
Japanese markets will be closed on Friday for the emperor’s birthday.
Back in the U.S., the week will include a number of corporate earnings reports and economic data for the housing market.
Monday: December NAHB Housing Market Index for December.
Tuesday: Germany’s December Ifo Business Climate index and November housing starts.
Wednesday: Existing home sales for November.
Thursday: Weekly jobless claims, the University of Michigan December consumer sentiment index, third quarter GDP, third estimate, leading indicators for November and Chicago Fed National Activity Index for November.
Friday: November personal income and spending, price inflation, durable goods orders and new-home sales.
Monday: Richmond Fed President Jeffrey Lacker speech.
Monday: Red Hat (NYSE:RHT).
Thursday: Diamond Foods (NASDAQ:DMND).