Earnings, turkey and retail highlight the week ahead
It will be a holiday shortened trading week with retail squarely in focus.
Retail stocks reporting earnings will be combined with Black Friday marking the unofficial start of the Christmas shopping season.
Among the names reporting are Lowe’s, Target, Best Buy, Kohl’s and TXJ to name a few.
Monday’s reports will come from L Brands and Urban Outfitters.
In corporate news on Tuesday, New York & Company Becomes RTW Retailwinds.
Before the market opens, there will be profit reports from Barnes & Noble, Best Buy, Campbell Soup, Kohl’s, Lowe’s, Target and TJX Companies.
After the market closes, reports are due from Foot Locker, Gap, Hewlett Packard Enterprise and La-Z-Boy.
On the economic front, the first housing-related report of the week will be released in the form of housing starts and building permits.
In the middle of the week, Deere & Co will report results.
Data will include Durable Goods, Existing Home Sales and Consumer Sentiment. Investors will also get weekly jobless claims a day earlier than usual due to the Thanksgiving Day holiday.
U.S. markets will be closed on Thursday for Thanksgiving Day.
The week ends on Black Friday, the biggest retail day of the year.
- U.S. online spending during the holiday shopping season is likely to grow 14.8 percent this year to $124.1 billion, far outpacing the 2.7 percent growth predicted for brick-and-mortar locations.
- Overall U.S. holiday sales including stores and online in 2018 will increase by 4.3 percent to 4.8 percent from a year ago, according to Reuters.
The one earnings report is due from Deere & Co.