It’s a relatively quiet week on the earnings and economic data fronts, but with several notable releases still coming.
Earnings reports will include
on Tuesday, then
on Wednesday. On Thursday,
will release results.
will host investor days on Wednesday and Thursday, respectively.
Economic data out this week will include the Institute for Supply Management’s Services Purchasing Managers’ Index for November on Monday. That’s expected to decline to 53, which would be the index’s lowest reading since May 2020.
Other economic data out this week will include the Bureau of Labor Statistics’ producer price index for November. Economists are looking for a rise of 7.2% from a year earlier for the headline index and a 5.9% one-year increase in the core PPI, which excludes food and energy prices.
Also on Friday, the University of Michigan will release its Consumer Sentiment Index for December, which is expected to tick up from November.
The Institute for Supply Management releases its Services Purchasing Managers’ Index for November. The consensus estimate is for a 53 reading, slightly lower than October’s 54.4. That was the lowest figure for the index since May 2020, as the services sector of the economy continues to slow.
releases first-quarter fiscal-2023 results.
Fortune Brands & Home Security and
hold their 2022 investor days.
Brown-Forman, Campbell Soup, and GameStop report earnings.
International Flavors & Fragrances
host their annual investor days.
Lowe’s holds its 2022 analyst and investor conference in New York. The company is expected to provide long-term financial targets.
The Federal Reserve reports consumer credit data for October. In September, total consumer debt rose at a seasonally adjusted annual rate of 6.4% and topped $4.7 trillion for the first time.
Costco Wholesale reports first-quarter fiscal 2023 earnings. Shares of the membership-club discount retailer fell 7.3% this past week, as November sales, released on Wednesday, came up short of expectations.
Cos., and Lululemon Athletica hold conference calls to discuss quarterly results.
General Electric holds an investor day in New York to discuss the GE HealthCare spinoff. GE shareholders will receive one share of GE HealthCare for every three shares owned. The spinoff is slated to take effect after the market close on Jan. 3, 2023. GE HealthCare will trade under the ticker GEHC on the Nasdaq exchange.
hold their annual shareholder meetings.
The Department of Labor reports initial jobless claims for the week ending on Dec. 3. Jobless claims averaged 228,750 in November and have crept higher from historically low levels since earlier this March.
The Bureau of Labor Statistics releases the producer price index for November. Economists forecast the PPI to rise 7.2%, year over year, after an 8% jump in October. The core PPI, which excludes volatile food and energy prices, is expected to increase 5.9%, slower than the 6.7% gain previously. Softer-than-expected CPI and PPI readings in the past month have raised hopes that the Fed pivot—or at least pause—is almost here.
The University of Michigan releases its Consumer Sentiment Index for December. The consensus estimate is for a 57.5 reading, about one point above November’s.
Write to Nicholas Jasinski at email@example.com