Three Things to Know & Watch

Nov 20, 2023

By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch

  • It’s a light and holiday-shortened week for the markets. There are several high-profile earnings reports out, with the headliner being Nvidia. The stock has tripled this year, and earnings are expected to be strong with revenue up more than 2.5 times from last year. Lowe’s, Analog Devices, Best Buy and Deere are also expected to release earnings. The third-quarter earnings season is mostly complete, and earnings were generally better than expected, with the aggregate positive surprise for the S&P 500 up 7.5%.
  • The economic calendar will feature durable goods, global flash purchasing managers indexes for November and the University of Michigan Consumer Sentiment Index. Durable goods are expected to be soft, with the lingering effects from the United Auto Workers strikes; last month we saw big upticks in inflation expectations in the U. of Michigan data.
  • Interest-rate watchers will get the minutes from the U.S. Federal Reserve’s last meeting (which featured no move but very hawkish rhetoric) and the European Central Bank’s report from its last meeting (which also featured no move).

Three Things to Know

  • On November 19, 1863, President Abraham Lincoln delivered the famous Gettysburg Address. The 272-word speech, a cornerstone of American history, was given at the dedication of the Soldiers’ National Cemetery in Gettysburg, Pennsylvania, four and a half months after the pivotal battle during the Civil War. (Source: Bespoke)
  • Japan’s Nikkei 225 briefly touched the highest level in 33 years in early trading on Monday, November 20. (Source: CNBC)
  • Thanksgiving is the second-favorite holiday among American adults, behind Christmas and ahead of Halloween. (Source:


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.