By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- More delayed data from September will be released this week, with retail sales and producer prices (PPI) scheduled to be issued on Tuesday and durable goods on Thursday. U.S. retail sales are expected to have moderated with a +0.4% increase expected. Discretionary purchases are being mostly supported by upper-income households fueled by equity-market gains, while middle- and lower-income households are being squeezed by higher costs after several years of too-high inflation.
- Earnings season is ending but several high-profile names will report this week, including Dell, Alibaba and Best Buy. Earnings have been better-than-forecast with the quarter almost complete.
- Thursday is the Thanksgiving holiday, and markets will be closed; markets will close early (1 p.m. ET) on Friday.
Three Things to Know
- The richest person in the world was Mansa Musa, a 14th-century West African ruler whose wealth was equal to $400 billion in today’s money. When he traveled to Cairo, he gave out so much gold that it depreciated in value and caused over a billion dollars in economic losses in the Middle East. (Source: Fascinating)
- 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 (USDA). (Source: Reader’s Digest)
- The United States has officially added $2.1 trillion of debt since the Department of Government Efficiency (DOGE) was formed on January 20. That’s $6.5 billion per day for 326 days in a row. (Source: The Kobeissi Letter)
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.