Alibaba, retailers and the UK budget: what investors need to know this week
The last trading week of November in the US will be shortened due to Thanksgiving and Black Friday. Wall Street will focus on September wholesale price data and retail sales statistics for the same month.
In the UK, Finance Minister Rachel Reeves will present the annual budget. This is "the most expected budget in decades", writes The Wall Street Journal with reference to Investec Economics.
In the corporate sector this week is expected to be relatively quiet calendar of publications of financial statements According to Yahoo Finance, the key reports will be Alibaba, Dell Technologies and a number of retailers, including Kohl's and Best Buy. About 95% of companies in the S&P 500 index have already disclosed their quarterly earnings: more than 80% of them beat earnings per share forecasts and about 75% beat revenue expectations, Barron's notes.
Zoom will report quarterly results on Monday, Nov. 24, along with Agilent Technologies, Keysight Technologies and Symbotic.
On Tuesday, November 25, the U.S. Census Bureau will release data on retail sales in the world's largest economy for September. The Bureau of Labor Statistics will release the Producer Price Index (PPI) for the same month. Both publications were delayed due to the shutdown.
Alibaba Group, Analog Devices, Autodesk, Best Buy, Dell, HP and Kohl's will report last quarter's earnings.
On Wednesday, November 26, the Labor government in the United Kingdom will present its annual budget. One of the largest investment companies in the world, Fidelity, called it "one of the most significant events of the year for private savers and investors". What exactly will be in the budget, no one but the government does not know exactly now. At the beginning of November, the head of the British Ministry of Finance made it clear that tax increases are inevitable. Therefore, there is a risk that Labor in power will renege on its promises not to raise income tax, VAT or national insurance contributions, Fidelity noted.
The U.S. Census Bureau will release a report on the nation's durable goods orders for September. The Fed will publish the Beige Book for the eighth and last time this year.
Financial statements will be disclosed by Deere and Li Auto.
On Thursday, November 27, stock markets in the U.S. will be off due to the Thanksgiving holiday.
On Friday, November 28, the Nasdaq and NYSE exchanges will work only until lunchtime - trading in shares will end at 13:00 North American Eastern Time (23:00 Astana time).
This article was AI-translated and verified by a human editor
