The First Slice for Monday, November 18, 2024
This week in the financial realm is bursting with pivotal updates across various sectors that could sway market dynamics and influence investor decisions. The housing market is under the microscope, with several key reports scheduled. Early in the week, we’ll get a glimpse into the homebuilder sentiment index, which reflects the confidence of contractors in the housing industry. This is closely followed by data on housing starts and building permits, indicators of new residential construction activity. At the tail end of the week, existing home sales figures will reveal trends in previously owned home transactions, providing a clearer picture of the housing market’s health amidst fluctuating mortgage rates.
In the corporate world, a lineup of heavy hitters is slated to share their earnings, giving us a peek into their financial health and prospects. From Nvidia, which recently became the world’s most valuable company due to booming demand for its AI tech, to retail giants like Walmart and Lowe’s, these reports will highlight successes and struggles across various industries. Notably, despite a prior drop in net income, Walmart’s optimism and Lowe’s struggle with big-ticket sales could speak volumes about consumer sentiment and spending patterns. These snapshots into retail health are crucial as they precede the holiday shopping season, a critical period for these corporations.
Moreover, insights from Federal Reserve officials, including Chicago Fed President Austan Goolsbee and Cleveland Fed’s Beth Hammack, will provide further fodder for financial market speculations. Their comments are especially relevant given the recent uptick in inflation, as investors and policymakers alike seek to gauge the potential for future economic policy shifts.
On an international note, earnings from Xpeng will offer a perspective on the electric vehicle market competition in China, a space where comparisons to Tesla often arise. Simultaneously, tech giants like Intuit and Baidu are set to report, each likely to reflect broader trends in their respective software and internet services sectors. Each of these reports has the potential to affect stock prices and offer insights into sectoral health and economic indicators at large.
Amidst these financial disclosures and economic reports, a particularly intriguing aspect is the market’s reaction to the recent presidential election results. The final consumer sentiment report on Friday will be pivotal, as it captures the public’s mood post-election, setting the tone for consumer confidence and spending as we approach year-end……….
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