Retailer earnings reports and the Federal Reserve's preferred inflation data will be the highlights of a holiday-shortened week. U.S. stock and bond markets will be closed on Thursday for Thanksgiving before a half day of trading on Friday.
Bath & Body Works Inc. and Zoom release quarterly results on Monday, followed by a busy Tuesday: Best Buy, CrowdStrike Holdings, Inc., Dell Technologies Inc., Dick's Sporting Goods, HP Inc, Macy's, Nordstrom, and Workday all report.
On Wednesday, the Bureau of Economic Analysis will release the personal-consumption expenditures price index for October. Economists' consensus estimate calls for a 2.3% year-over-year increase.
Other economic data to watch this week will include new residential sales for October and the Conference Board's Consumer Confidence Index for November on Tuesday, then the durable goods report for October and the National Association of Realtors' Pending Home Sales Index for October on Wednesday.
Finally, the Federal Open Market Committee will publish the minutes from its early November monetary policy meeting on Tuesday afternoon.
Monday 11/25
Agilent Technologies, Bath & Body Works, and Zoom release quarterly results.
Tuesday 11/26
Abercrombie & Fitch, Analog Devices, Autodesk, Best Buy, Burlington Stores, CrowdStrike, Dell, Dick's, HP, J.M. Smucker, Macy's, Nordstrom, Nutanix, Urban Outfitters, and Workday announce earnings.
The Federal Open Market Committee releases the minutes from its early November monetary policy meeting. At that meeting, the FOMC lowered the federal-funds rate by a quarter of a percentage point to 4.50% -- 4.75%, the second consecutive meeting with a rate cut.
The Census Bureau reports new residential sales for October. Consensus estimate is for a seasonally adjusted annual rate of 720,000 new single-family homes sold, 18,000 less than in September.
The Conference Board releases its Consumer Confidence Index for November. Expectations are for a 112 reading, compared to 108.7 previously.
Wednesday 11/27
The Bureau of Economic Analysis releases the personal-consumption expenditures price index for October. Economists forecast a 2.3% year-over-year increase, two-tenths of a percentage point more than in September. The core PCE price index, which strips out volatile food and energy prices, is expected to rise 2.8% following a 2.7% gain previously.
The BEA releases its second estimate for third-quarter gross-domestic-product growth. The consensus call is for GDP to have grown at a seasonally adjusted annual rate of 2.8%, unchanged from the BEA's advance estimate from late October.
The Census Bureau releases the durable goods report for October. New orders for manufactured durable goods are expected to increase 0.3% to $285.7 billion.
The Institute for Supply Management releases the Chicago Business Barometer for November. Consensus estimate is for a 45 reading, about 3.5 points more than in October.
The National Association of Realtors reports its Pending Home Sales Index for October. The index, a leading indicator of housing activity, is seen declining 1.8% month over month, following a 7.4% increase in September.
Thursday 11/28
Equity and fixed-income markets are closed in observance of Thanksgiving.
Friday 11/29
The Nasdaq and New York Stock Exchange have shortened trading hours, 9:30 A.M. to 1:00 PM ET.
