Week ahead 27/11/23: Caixin; German consumer confidence and inflation; easyJet; Mulberry; OPEC+
The global economy data diary is punctuated with China’s Caixin manufacturing PMI, German consumer confidence and inflation. More consumer data will likely move the markets as Cyber Monday gets under way.
(Video summary)
Black Friday & Cyber Monday sales: impact on market
The upcoming week is going to be really exciting for shoppers because of the Black Friday and Cyber Monday sales. Investors are eagerly waiting to see how these sales will impact the market.
There will also be some important industrial data released from China, as well as trade data from the UK and an update on the US housing market. Australia will share information about their retail sales and Germany will give insight into consumer confidence.
In the middle of the week, we will get to see how well the US economy is doing with the release of the Q3 GDP data. The Fed's beige book and consumer price index data from Germany will also be available.
On Thursday, Japan will share industrial production and retail sales data, and China will provide manufacturing data. The UK will release information on house prices, while the OPEC+ meeting will finally take place.
The week will end with manufacturing data from China and France, the US manufacturing PMI, and the Baker Hughes oil rig count.
In an interview, Tom Sosnoff from tastylive in Chicago expressed uncertainty about how well holiday sales will go this year. He mentioned that the NASDAQ, a stock index, may be at risk because it has been making big gains lately. He also talked about the possibility of the NASDAQ reaching a certain level before Christmas.
Lastly, some companies will be sharing their earnings reports, including easyJet, Toptiles, Hewlett Packard Enterprise, Dollar Tree, Halfit, Souffle, Foot Locker, Marbury, Dell Technologies, Kroger, and Salesforce. Retail analysts have noticed that people are being more careful with their spending, especially when it comes to online and discounted purchases.
Overall, it is going to be an interesting week with lots of important information about the retail industry and the global economy.
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