Next week is Thanksgiving week in the US, which means a lot of data releases are crammed in before the Thursday holiday and it’s a half-day (and half-hearted) session on the NYSE on the Friday. Friday is of the Black variety, but the significance of that event is now much diminished in a digital world, and given shops are now allowed to open on Thanksgiving day.
Which means it’s more of a Black Week, but no less important in terms of Christmas sales. The Yanks are strange – they have their Christmas clearance a month beforehand when we have ours from Boxing Day.
It’s an important week on the Australian economic calendar given releases for September quarter construction work done and private sector capex – two vital components informing the GDP result the week after. We’ll also see October private sector credit numbers and the RBA governor will speak.
The US will see data for consumer confidence, house prices, new and pending home sales, durable goods, PCE inflation, the Fed Beige Book, the Richmond Fed index and a revision of September quarter GDP, all before Thursday.
Of course trade will be an ever present source of angst, and increasingly so is Hong Kong.
The AGM season rolls on for the local stock market and there are still plenty of meetings to be held.