Stock Market Outlook This Week: November 21st – November 25th
Penny stocks, by definition, are some of the cheapest assets you can buy in the stock market today. In light of this year’s stock market crash, chances are high that some of the companies you use products from each day are trading at these sub-$5 levels. Plenty of household name stocks like BuzzFeed (NASDAQ: BZFD), BurgerFi (NASDAQ: BGI), Trivago (NASDAQ: TRVG), Oatly (NASDAQ: OTLY), and countless others are in the bargain bin in 2022.
Most of the tensions have risen from the outlook on inflation, interest rates, and the massive Fed balance sheet. But some are hoping for a corner to be turned sooner than later. The latest round of October CPI and October PPI inflation data supports the idea that policy measures may have started working. But that doesn’t mean we’re out of the woods quite yet.
Conflicting information from the November Fed meeting still has investors torn. While the Fed statement read one way, comments from Chairman Jerome Powell suggested a different tone. Meanwhile, last week, hawkish Fed member commentary and geopolitical uncertainty saw markets cool. Regardless, indexes, including the S&P 500 (NYSEARCA: SPY), managed to hold support by Friday’s close, only shedding 63 cents compared to Monday’s opening bell.
Meanwhile, the Dow continued churning higher and closed on the week with a slight gain compared to last Monday’s open. Given the shortened week, some presume a lighter and less serious economic and central bank data schedule. But rest assured, plenty could move markets over the next five days.
The Stock Market This Week: Key Economic Data To Know November 21st – November 25th
One of the more significant focuses of the week will be the meeting minutes from the November FOMC meeting. While we know the general outlook thanks to the Fed press conference and the statement, the meeting minutes from November’s Federal Open Market Committee meeting could give even more color on what happened.
We’ll also see global central banking catalysts, including the ECB’s account of its latest monetary policy meeting. There will also be plenty of central banker speeches, economic data, and earnings results to consider.
Stock Market News & Events On Monday, November 21, 2022
Monday and Friday will be the lightest days for economic data and central banker speeches. The European Central Bank’s Fernandez-Bollo and Bank Of England’s Cunliffe speak at two separate events. Meanwhile, as the premarket session moves closer to the opening bell, we’ll also get some US economic data with Chicago Fed National Activity at 8:30 AM ET.
Stock Market News & Events On Tuesday, November 22, 2022
Tuesday begins to see a more active schedule of events with FOMC speakers throughout the day, including Mester, George, and Bullard. We’ll also get a flavor of retail sales activity from the next round of Redbook data coming before the bell. Later on in the afternoon, following the closing bell, the newest API weekly crude figures come out.
What Is The Redbook?
Red Book data shows sales-weighted year-over-year same-store sales trends. It can signal consumer spending and short and medium-term trends for retail investors and track a wide range of retail categories. Everything from sporting goods and apparel to jewelry and home furnishings is followed closely in the Red Book. The last reading came in at 6.8%, which was lower than the 7.6% previously. Redbook data spiked from week-to-week October 25th to November 1st (8.2% to 9.7%) but has steadily declined throughout November.
Stock Market News & Events On Wednesday, November 23, 2022
Wednesday, November 23rd, is the most active day of the week for economic data and central bank speaking engagements. It kicks off with the ECB’s Fernandez-Bollo and De Guindos speaking. We also get the Eurozone’s November Purchasing Managers’ Index (PMI) data for manufacturing, services, and S&B global composite. UK PMI will also be released during the early morning hours on November 23rd.
Forecasts remain below 50 for this next round, which suggests a generally contractionary climate. PMI is looked at by traders as a means for gauging economic performance since purchasing managers tend to have initial access to company performance data. The MPC’s Pill, Ramsden, and Mann speak before the U.S. markets open.
Regarding economic data, US Building Permits, jobless claims, durable & core durable goods, home sales, crude inventories, and Michigan consumer sentiment get released during the morning. This leads to the 2 PM ET release of the November FOMC minutes. Here’s what was reported in the last FOMC minutes.
Stock Market News & Events On Thursday, November 24, 2022
US markets close on Thursday in celebration of the Thanksgiving holiday. But that doesn’t mean everything stops as far as global events are concerned. Central bank speakers include the MPC’s Ramsden, Mann, & Pill and the ECB’s De Guindos, Schnabel, and Enria. For economic data, you can look for clues from the ECB’s monetary policy meeting account and the UK Confederation of British Industry (CBI) industrial trends orders data.
Stock Market News & Events On Friday, November 25, 2022
Friday is quiet as US markets close early on Black Friday at 1 PM ET. ECB speakers include Jochnick and De Guindos to round out the week.
Stock Market Outlook For The Week Ahead: 11/21 to 11/25
This week is a bit lighter regarding the frequency of economic events. But when it comes to the potential impact that these events can have on the market is a different story. Surely, Wednesday’s FOMC meeting minutes will bring some market volatility and a possible reaction on Friday from Thursday’s ECB and UK data.
Nevertheless, things like the FTX crypto brokerage meltdown and the Russia-Ukraine war could bring additional headline risk to account for. Against this backdrop, some notable companies are still reporting earnings, and the market will likely hang on the words of management to gain insight into the guidance & outlook for the next few quarters.
Thanks to this stock market roller coaster ride, every trader and investor is asking the same questions:
- What Happens Next in The Stock Market?
- Is this the stock market bottom for 2022?
- Is it time to sell Bitcoin, Ethereum & other cryptocurrencies?
- How should you be investing money into your long-term portfolio?
- What stock market news this week will move the market next?
- How Can I Make Money trading in The Stock Market?
- What are the best stocks to buy now?
Playing “the stock market game” has worked for those who are prepared and strategically positioning themselves to take advantage of the opportunity to make money trading every day. The stock market opens at 9:30 AM ET and gives participants plenty of time to react to daily market trends. It’s not with one specific stock market indicator or some magical stock market analysis.
If you have ever wondered How to start investing in the stock market, How the stock market works, asked yourself, “is this a stock market for beginners” or wondered how to start investing in stocks for the long term, it’s time to pay attention.
Notable Earnings In The Stock Market This Week
Monday, November 21, 2022, Most Anticipated Earnings
- Agilent Technologies, Inc. (A)
- Dell Technologies (DELL)
- Zoom Video (ZM)
- Jacobs Solutions (J)
- JM Smucker (SJM)
- Toro Company (TTC)
- Futu Holdings (FUTU)
- Urban Outfitters (URBN)
- DouYu International (DOYU)
- Niu Technologies (NIU)
Tuesday, November 22, 2022, Most Anticipated Earnings
- Medtronic (MDT)
- Analog Devices (ADI)
- Autodesk (ADSK)
- Dollar Tree (DLTR)
- Baidu (BIDU)
- HP Inc. (HPQ)
- Best Buy (BBY)
- Warner Music Group (WMG)
- Burlington Stores (BURL)
- Dick’s Sporting Goods (DKS)
- Nordstrom (JWN)
- Chinadata Group (CD)
- Canadian Solar (CSIQ)
- American Eagle Outfitters (AEO)
- Jack In The Box (JACK)
- Guess (GES)
- Abercrombie & Fitch (ANF)
- Chico’s FAS (CHS)
- Movado Group (MOV)