As a result, deciding what and when to buy can be challenging for any investor. The University of Michigan consumer sentiment index on Friday will also offer an early read of November data.įollowing the snap-back recovery in stocks last year from Pandemic lows, we believe that investment gains will be harder to come by in the coming quarters, given a slowing growth outlook and the prospect of higher interest rates. A day later, core consumer price growth is expected to increase to 4.3%. In economic action, inflation will be back in focus, beginning with U.S. The Week AheadĪpplied Materials ( AMAT) and Walt Disney ( DIS) highlight a relatively quiet earnings calendar this week. Earlier in the week, ISM announced that Manufacturing activity was more muted last month.įinally, the House of Representatives passed a $1.2 trillion bipartisan infrastructure bill late Friday night. Services sector rebounded during October.
economy added 531,000 non-farm payrolls last month, as the headline unemployment rate fell to 4.6%.Įlsewhere, the Institute for Supply Management (ISM) said on Wednesday that the U.S. Fed fund futures continue to price in a potential rate hike in June 2022.įriday’s October jobs report also painted a rosy picture. Given a stronger economic outlook, the strategy is seen as a precursor to eventual interest rate increases. On the economic front, the big news on Wednesday was that the Federal Reserve officially announced it will begin tapering its bond-buying by $15 billion a month. With 89% of the results in, 81% of companies have exceeded profit expectations to date. There was a lot of news to digest, including the busiest week of the third-quarter earnings season. The Consumer Discretionary sector led the way higher last week, while Healthcare and Financials lagged. stocks pushed higher Friday, as the S&P 500 notched its seventh straight winning session.
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