Upcoming Financial Week Expectations
November 12, 2023
Importance of the Forthcoming CPI Report and Its Influence on Interest Rates
Next week, the much-anticipated Consumer Price Index report for October is likely to grab investors’ attention. This data is deemed significant due to its potential impact on interest rates. Federal Reserve Chairman Jerome Powell’s recent comments at an International Monetary Fund conference might shape investor sentiment. Powell reassured that, if the context required, the Fed would not shy away from implementing stricter monetary policies.
Even though present market predictions foresee less than a 20% chance of a rate hike in December, outcomes like a robust CPI report or substantial retail sales data “might shift expectations.”
Possible Influences and Surprises
Speaking about this unpredictable element, analyst Dan Victor hints that the CPI could unexpectedly tilt towards the lower side. Moreover, President Biden’s impending meeting with Chinese leader Xi Jinping, planned for mid-week, could be of considerable interest to tech-sector investors.
In the forthcoming week, profit reports from retail behemoths such as Walmart (WMT), Target (TGT), and Home Depot (HD) are expected. Meanwhile, specific investor events lined up for companies like DraftKings (NASDAQ:DKNG), Roblox (NYSE:RBLX), and Guidewire Software (NYSE:GWRE) may trigger stock volatility.
Several companies are poised to boost their quarterly dividend payouts from a dividends perspective. These encompass Apple Hospitality (APLE)—from $0.08 to $0.10—Amkor Technology (NASDAQ:AMKR)—from $0.075 to $0.090—Aecom (ACM)—from $0.18 to $0.20—and Nike (NKE)—from $0.34 to $0.37.
Investor Enthusiasm for Upcoming Conferences
Looking ahead, Nareit’s REITworld: 2023 Annual Conference might stir considerable enthusiasm among investors in the real estate sector. Past editions of this event have seen share price surges for REIT stocks. Expected participants comprise Uniti Group (UNIT), Sabra Health Care REIT (SBRA), National Storage Affiliates Trust (NSA), and Tanger Factory Outlet Centers (SKT).
Other events to look forward to include the Needham Virtual Security, Networking, & Communications Conference, Wolfe Research Healthcare Conference, Goldman Sachs Global Metals and Mining Conference, and Stephens Annual Investment Conference.
Recent Shifts in Quant Ratings
Several changes have recently occurred in quant ratings—PriceSmart (PSMT) has been upgraded from Hold to Buy while Sally Beauty Holdings (SBH) has been downgraded from Sell to Hold. For those seeking top-tier stocks, Seeking Alpha’s Quant Ratings provides a comprehensive directory.