By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- Despite the holiday Thursday and an early close on Friday, it will be a busy week, particularly on Wednesday. Consumer confidence, initial jobless claims, durable goods and the U.S. Federal Reserve’s (Fed’s) favored inflation indicator will all be released. Core personal consumption expenditures (PCE) are expected up 0.3% month over month and 2.8% year over year, still above the Fed’s 2% target.
- The minutes from the Fed’s most recent meeting (where it cut 25 basis points) will be released on Tuesday. At this point, futures are pricing the odds of another cut at the next meeting (December 18) at 50%.
- Earnings continue to dribble in with Dell and Analog Devices highlighting this week’s reports. With most of the S&P 500 having reported, there were positive earnings surprises from 75% of the index constituents.
Three Things to Know
- Sealand is a tiny country located in the North Sea, about 12 miles off the coast of England. It is considered the smallest country in the world, which once had a population of 50 people. Sealand was created in 1967 by Paddy Roy Bates, who declared it an independent nation after he and his family occupied a disused Navy fort near the HM Fort Roughs. (Source: Fascinating)
- MicroStrategy is up more than every S&P 500 component in 2024, with just $116 million in quarterly revenue. It is up nearly triple as much as Nvidia and has a gain of 568% through November 22. (Source: Bloomberg)
- According to the National Turkey Federation, around 88% of Americans enjoy turkey as part of their Thanksgiving holiday feast each year. That adds up to over 46 million turkeys, according to the U.S. Department of Agriculture. The average person enjoys 2.7 drinks on Thanksgiving, which is more than double the usual amount on a regular day. (Source: Reader’s Digest)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.