The First Slice for Monday, November 24, 2024
This Thanksgiving week, the stock market will take a short break to gobble turkey, closing its doors on Thursday and ticking off early on Black Friday, but not before dishing out a feast of economic updates and corporate earnings that could influence portfolios across the board. Before investors kick back for the holiday, they’ll chew over the Personal Consumption Expenditures (PCE) inflation index for October, like the seasoning on the market’s turkey—the tastier it is, the better for the economic outlook. This key inflation gauge, alongside the revised stats on the GDP from the third quarter, will provide a fresh look at the health of the U.S. economy, checking if it’s roasting nicely or starting to burn.
The spice in the economic stuffing comes from the Federal Reserve’s November meeting minutes, revealing insights into their latest interest rate cut decision. This documentation helps investors and market watchers gauge the mood within the Fed about future monetary policy. Additionally, consumer confidence and housing market data slated for release might show how upbeat (or not) consumers feel post-election and in the rush to the holiday shopping. A positive uptick here could mean more bustling shopping malls and busier online carts, painting a rosy picture for retail stocks.
As the earnings parade continues, several tech giants are stepping up to the plate. Dell Technologies, HP, and CrowdStrike, among others, will spill the beans on their quarterly performance. These reports will be closely watched as they often signal not just the health of the companies but also technological trends and consumer preferences. For instance, Dell’s earnings could give us hints about the burgeoning role of artificial intelligence in the tech sector, a trend that’s more viral than the latest meme.
And speaking of trends, cybersecurity firm CrowdStrike hopes to rebound from a recent service hiccup as they reveal their numbers, possibly providing insights into the resilience and demand for cybersecurity solutions, a hot topic in our increasingly digital world. Not to be outdone, Analog Devices and other tech firms will also share their tales from the fiscal front, potentially hinting at broader industry shifts, from chip shortages to the explosive demand for tech-enhanced devices………
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