This Week’s Stock Market Analysis on Penny Stocks : November 21,2022 – November 25, 2022
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November 21–November 25: Important Economic Data for The Stock Market
The meeting minutes from the November FOMC meeting will be one of the week’s most important topics of discussion. Although the Federal Reserve’s press conference and statement provided the general forecast, the meeting minutes from the Federal Open Market Committee meeting in November may provide even more detail.
Additionally, we’ll witness catalysts in the world of central banking, such as the ECB’s report on its most recent monetary policy meeting. There will also be a ton of statements from central bankers, economic data, and corporate results to take into account.
News & Events Relating to the Stock Market for November 21, 2022
Events & Stock Market News for November 22, 2022
The program for events on Tuesday gets busier as FOMC speakers including Mester, George, and Bullard talk throughout the day. The following batch of Redbook data, which will be released before the bell, will also give us a taste of the retail sales activity. After the closing bell, in the late afternoon, the most recent API weekly crude numbers are released.
What Is The Redbook?
Red Book data reveals patterns in same-store sales over time that are weighted by sales. It tracks a wide range of retail categories and can measure consumer spending as well as short- and medium-term trends for retail investors. The Red Book keeps strict track of everything, including jewelry, house furniture, recreational goods, and clothing. The most recent figure, 6.8%, was lower than the previous reading, 7.6%. Redbook data increased from week to week between October 25 and November 1 (8.2% to 9.7%), but has since been slowly declining.
Events & Stock Market News for November 23, 2022
The busiest day of the week for economic data and central bank speaking engagements is Wednesday, November 23. Fernandez-Bollo and De Guindos from the ECB talk first. We also receive statistics from the Purchasing Managers’ Index (PMI) for manufacturing, services, and S&B global composite for the Eurozone for November. On November 23, the UK PMI will likewise be made public in the early morning hours.
For this round, forecasts are still below 50, which points to a largely contractionary environment. Since purchasing managers frequently have first access to information about firm performance, traders use PMI as a tool to assess economic performance. Before the U.S. markets open, Pill, Ramsden, and Mann of the MPC speak.
In terms of economic data, the morning releases include US building permits, jobless claims, durable and core durable goods, house sales, oil inventories, and Michigan consumer sentiment. This results in the publishing of the November FOMC minutes at 2 PM ET.
Events & Stock Market News for November 24, 2022
In observance of Thanksgiving Day, US markets are closed on Thursday. However, that does not mean that world events come to a complete halt. Speakers from central banks include Ramsden, Mann, and Pill from the MPC and De Guindos, Schnabel, and Enria from the ECB. The ECB’s monetary policy meeting account and the UK Confederation of British Industry’s (CBI) industrial trends orders data are good places to search for hints about economic statistics.
Events and News Affecting the Stock Market on 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.
