Get ready for an exciting week in the markets! Stay on top of the latest trends and developments with our expert insights. Find out what to expect and how to navigate the ups and downs of the market in simple, human touch language.
Market watchers will be closely monitoring the latest labor market data this week, with reports coming on jobs added, unemployment, hourly wages, job openings, and private sector payrolls.
GameStop, the original “meme stock,” will be reporting its first earnings under new CEO Ryan Cohen. The retailer will be looking to build on its recent momentum, following narrower-than-expected losses in its previous quarter.
Meanwhile, Advanced Micro Devices will be launching its latest MI300 data center GPU chip, which is designed to power artificial intelligence (AI) applications. This event will showcase the company’s growing momentum with AI hardware and software partners.
In addition to these events, big tech companies like Microsoft and Cisco Systems will be hosting their annual shareholder meetings.
On the economic front, investors will receive data on job openings, private payroll reports, weekly initial jobless claims, U.S. unemployment figures, factory orders, U.S. productivity revisions, U.S. trade deficit, wholesale inventories, consumer credit, and the preliminary results of the Michigan Consumer Sentiment Index.
The Federal Reserve is particularly interested in the job numbers, as it plays a crucial role in determining the direction of the fight against inflation. After seeing a drop in inflation, the focus will now be on ensuring that the labor market remains resilient amid interest rate hikes.
Last month’s employment figures showed that employers had added 150,000 jobs in October, with hourly earnings rising by 0.2%. The unemployment rate also ticked up to 3.9%, indicating some positive changes in the labor market.
Following the frenzy around GameStop’s stock earlier this year, the company will be aiming to sustain its positive momentum in the digital gaming space. Meanwhile, AMD’s AI chip launch highlights ongoing advancements in AI hardware and software.
It’s definitely a week packed with important market events and economic updates, and investors will be keeping a close eye on them as they seek to make informed decisions moving forward.