Stock Market Outlook This Week: December 5th – December 9th
Ready to make money in the stock market this week? Let’s take this one step at a time. December’s first full week is about to begin, which means one week closer to the new year.
If we’ve learned anything in 2022, it’s that being proactively reactive instead of predictive has worked better when it comes to navigating the wild volatility. Whether you’re trading penny stocks or higher-priced stocks, broad market catalysts have impacted most public companies.
What’s the point of mentioning this? When it comes to becoming reactive, you’re not trying to predict what’s going to happen. The strategy becomes analyzing data as it gets reported and then formulating your trading strategy based on that data.
Sure, can you get lucky if you buy stocks a day before they report earnings, and then they miraculously knock it out of the part? Sure, but chances are, that strategy will be much more inconsistent, considering it’s not only about quarterly results but also the corporate guidance for next quarter and the rest of 2023.
One of the biggest reasons for this is based on the economic landscape. Inflation, rate hikes, and the state of the global economy as a whole have swayed investor opinion more over the last twelve months than compared to prior years.
Record quantitative easing (QE) measures and the goal to unwind that QE with quantitative tightening (QT) measures have created a unique situation for investors and corporations alike. For this reason, it’s good to know what’s coming up in the week ahead to adequately prepare for different outcomes based on what data gets reported.
The Stock Market This Week: Key Economic Data To Know December 5th – December 9th
Something we will not see much of this week is Fed speakers. In fact, the FOMC is entering a “Blackout” period, so economic data may need to speak for itself without any further commentary from US central bankers.
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What Is The FOMC Blackout Period?
According to the Federal Reserve, “The blackout period will begin at the start of the second Saturday (midnight) Eastern Time before the beginning of the meeting and will end at midnight Eastern Time on the next day after the meeting. For example, if the Committee meeting starts on a Tuesday, the blackout period will begin at the start of the Saturday that falls ten days earlier, and if the meeting ends on a Wednesday, the blackout period will end at the end of Thursday.”
That means the FOMC blackout period in December started on December 3rd. Furthermore, the FOMC has outlined other details regarding blackout periods:
“During each blackout period, FOMC staff officers as well as staff who have knowledge of information that is classified as “Class I FOMC – Restricted Controlled (FR)” and that is related to the previous or upcoming FOMC meeting will refrain from expressing their views or providing analysis to members of the public about current or prospective monetary policy issues. In addition, during each blackout period, other staff will refrain from expressing their views or providing analysis to members of the public about current or prospective monetary policy issues unless that information has already been cleared for publication and made widely available to the public prior to the blackout period. Staff may carry out their responsibilities for public dissemination of regularly published Federal Reserve data series, System surveys and reports, statistical indexes, and model results.”
Stock Market News & Events On Monday, December 5, 2022
This week will be lighter, in general, due to the quiet period. But that doesn’t mean there won’t be important economic events and global central banker speaking engagements to watch. Monday kicks things off with Eurozone and UK economic data. Eurozone Retail Sales for October and UK November PMI will report as the US markets open for premarket trading. Shortly after the opening bell, we’ll see US economic data in the form of November PMI, ISM non-manufacturing employment, PMI, & new orders, as well as October factory orders.
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Stock Market News & Events On Tuesday, December 6, 2022
November UK construction PMI gets reported early Tuesday morning. We also get comments from the ECB’s Jochnick a few hours before the US October trade balance, and Redbook data come out. The rest of the day is relatively quiet until the afternoon when we get EIA short-term energy outlook and the API weekly crude data.
Stock Market News & Events On Wednesday, December 7, 2022
Wednesday looks to be the most active as far as economic data is concerned. We’ll get ECB speakers Lane, McCaul, and Panetta leading into the US opening bell. Eurozone Q3 GDP data comes out at 5 AM ET, while US Q3 non-farm productivity and unit labor costs get reported at 8:30 AM ET. Other than the 10:30 AM ET crude oil report, the remaining economic data point to consider is Japan’s Q3 GDP, which comes out during the post-market session.
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Stock Market News & Events On Thursday, December 8, 2022
Jobs data will take center stage as the market continues gauging the “strength” of the employment market. US initial and continuing jobless claims come out at 8:30 AM ET. Meanwhile, the rest of the day is quiet. Are there any global central bankers of note? ECB President Lagarde speaks twice on Thursday.
Stock Market News & Events On Friday, December 9, 2022
Friday winds down the otherwise quiet week in the stock market, but that doesn’t suggest reports won’t carry market-moving weight. November, U.S. PPI and Core PPI come out before the markets open. This could give a glimpse into what some may hope to be continued progress in slowing the economy thanks to FOMC monetary policy in action.
We’ll also get Michigan’s inflation & consumer expectations and consumer sentiment for December at 10 AM ET. Later in the afternoon, we’ll get the Baker Hughes rig count at 1 PM ET followed by comments from the ECB’s McCaul at 3:10 PM ET.
What else should you prepare for in the stock market this week, and how should you be positioned to capitalize on the opportunities that come with it? Find out LIVE when you tune in to True Trading Group’s Stock Market LIVE Stream tonight on YouTube.
Notable Earnings In The Stock Market This Week
Monday, December 5, 2022, Most Anticipated Earnings
- GitLab Inc. (GTLB)
- Science Applications International (SAIC)
- Sumo Logic (SUMO)
- IDT Corporation (IDT)
- Veru Inc. (VERU)
Tuesday, December 6, 2022, Most Anticipated Earnings
- BHP Group (BHP)
- AutoZone Inc. (AZO)
- MongoDB Inc. (MDB)
- Caseys General Stores Inc. (CASY)
- Toll Brothers Inc. (TOL)
- HealthEquity Inc. (HQY)
- Guidewire Software Inc. (GWRE)
- SentinelOne (S)
- Signet Jewelers (SIG)
- Sprinklr Inc. (CXM)
- Dave & Buster’s Entertainment (PLAY)
- Zuora Inc. (ZUO)
- Avid Bioservices (CDMO)
- Couchbase Inc. (BASE)
- Smith & Wesson Brands (SWBI)
- ZeroFox Holdings (ZFOX)
- Stitch Fix (SFIX)
- Skillsoft Corp. (SKIL)
- J. Jill Inc. (JILL)
- Conn’s Inc. (CONN)
- Alico (ALCO)
- Barnes & Noble Education (BNED)
Wednesday, December 7, 2022, Most Anticipated Earnings
- Brown Forman Corporation (BF)
- Campbell Soup Company (CPB)
- GameStop (GME)
- The Descartes Systems Group (DSGX)
- HashiCorp. (HCP)
- Thor Industries (THO)
- Greif Inc. (GEF)
- Academy Sports and Outdoors (ASO)
- Ollie’s Bargain Outlet Holdings (OLLI)
- United Natural Foods (UNFI)
- John Wiley & Sons (WLY)
- Verint Systems (VRNT)
- The Duckhorn Portfolio (NAPA)
- Oxford Industries (OXM)
- C3.ai Inc. (AI)
- The Lovesac Company (LOVE)
- Sportsman’s Warehouse Holdings (SPWH)
- Vera Bradley (VRA)
- VersaBank (VBNK)
- Latch Inc. (LTCH)
Thursday, December 8, 2022, Most Anticipated Earnings
- Broadcom (AVGO)
- Costco Wholesale Corporation (COST)
- lululemon athletica (LULU)
- Chewy Inc. (CHWY)
- The Cooper Companies (COO)
- Vail Resorts (MTN)
- DocuSign (DOCU)
- Ciena Corporation (CIEN)
- Korn Ferry (KFY)
- GMS Inc. (GMS)
- Phreesia Inc. (PHR)
- Hello Group Inc. (MOMO)
- Liquidity Services (LQDT)
- Domo Inc. (DOMO)
- Lee Enterprises (LEE)
- Express Inc. (EXPR)
- RH (RH)