Wall Street week ahead: Investors’ focus on Fed minutes, flash PMI reports

In the week ahead, investors will also focus on earnings reports of some notable companies such as Nvidia, Analog Devices, Best Buy, Autodesk, and Deere.

The minutes of the Fed’s October 31-November 1 FOMC (Federal Open Market Committee) meeting will be released on November 21. 

A report on existing home sales will also be released on Tuesday.

On November 22, a report on initial jobless claims will be released.

The S&P flash US Services PMI and the  S&P flash US Manufacturing PMI reports will be released on November 24.

Earnings

Following companies are due to declare their quarter results – Zoom Video, BellRing Brands, Nvidia, Lowe’s, Medtronic, Analog Devices, Autodesk, Best Buy, Baidu, DICK’s Sporting Goods, Burlington Stores, HP, Nordstrom, Jack in the Box, and Deere.

US stocks

On Friday, the US stocks edged up slightly. The S&P 500 edged up by 5.78 points, or 0.1%, to 4,514.02. The Dow Jones Industrial Average inched up by 1.81, or less than 0.1%, to 34,947.28. The Nasdaq composite gained 11.81, or 0.1%, to 14,125.48.

The US dollar fell to 149.66 Japanese yen from 150.61. The euro rose to $1.0899 from $1.0857.

The yield on the 10-year treasury dipped to 4.43% from 4.44%.

The US crude oil benchmark for December delivery rose $2.99 to $75.89 per barrel on Friday. Brent crude for January delivery rose $3.19 to $80.61 per barrel.

Natural gas for December fell 10 cents to $2.96 per 1,000 cubic feet.

Gold for December delivery fell $2.60 to $1,984.70 per ounce. Silver for December delivery lost 8 cents to $23.85 per ounce.

In the global stock markets on Friday, Hong Kong’s Hang Seng tumbled 2.1%. Stock indices were mixed elsewhere in Asia while rose more strongly in Europe. 

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Updated: 19 Nov 2023, 10:51 PM IST