With a holiday-shortened week in the U.S., a “full slate” of economic data arrives on Wednesday, WSJ reports.
- Surveys of Purchasing Managers in the U.S. and Europe: Both are expected to “point to slowdowns in the dominant services sector” following new Covid-19 restrictions. Europe will likely report a decline in overall activity, despite manufacturing output increasing, while the U.S. is expected to post continued growth.
- The Conference Board’s U.S. Consumer Confidence Survey for November: It’s likely to reflect “rising coronavirus caseloads and a patchwork of state and local measures to help contain the pandemic.”
- U.S. Durable Goods Orders: It’s expected to increase for the sixth month in a row, though some predict an unimpressive gain amid a slowing recovery.
- U.S. Applications for Unemployment Benefits: Though employers have been adding jobs, this mark is expected to remain high as the latest surge of Covid-19 infections batters the labor market.
- U.S. Consumer Spending: Economists predict a sixth straight increase for household outlays in October. Consumer spending has powered the U.S.’s recovery in the last few months, even with spending lagging on in-person entertainment and travel.
- The Federal Reserve’s Nov. 4-5 Meeting: Minutes will be released, but it was a “relatively uneventful session that highlighted risks to the economy from the pandemic.”
I am expecting a relatively uneventful week in the markets because of the Thanksgiving holiday. I’ll be using this time to research a few companies and continue to build out the ROIC membership. I hope you all have a wonderful holiday week!