What to Expect in the Markets This Week Ahead of New Year
This week brings key market updates, including home sales and manufacturing data, as investors prepare for the New Year holiday
Business
Pending Home Sales, Home Price Index, Construction Spending, New York, USA
New York: This week is shaping up to be quite interesting for the markets. With New Year’s Day coming up, both stock and bond markets will be closed on Wednesday. Plus, the bond market will wrap up early on Tuesday, closing at 2 p.m. ET.
On Monday, we’ll get some important data on pending home sales for November. This will help us see if the housing market is still buzzing. Then on Tuesday, the S&P Case-Shiller Home Price Index will drop, giving us a peek into home prices for October.
Thursday is when the Census Bureau will share construction spending data for November. This report will cover everything from housing to commercial buildings like factories and roads. It’s a big deal for understanding the overall economy.
Also on Thursday, we’ll see the usual jobless claims report from the Labor Department. Last week’s numbers were a bit better than expected, so it’ll be interesting to see if that trend continues.
And don’t forget about the manufacturing sector! PMI data will be released on Thursday and Friday, which is always a hot topic for investors. Plus, Richmond Fed President Tom Barkin will be speaking on Friday, which could give us some insights into the Fed’s thinking.
As for corporate earnings, there aren’t many reports coming out this week. However, Tesla’s quarterly deliveries report is expected on Thursday, and Lifecore Biomedical will also share its financial results.
Investors often look for a “Santa Claus Rally” during this time, where stocks tend to rise in the last few trading days of the year. So, Friday’s close will be a key moment to see if that holds true this year.