Weekly Reports | Dec 16 2016
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
At 19,852, the Dow remains tantalisingly close to the 20,000 milestone. Not quite as close as it was pre-Fed nonetheless. Can we see a final push next week as Wall Street’s Christmas present?
First we need to get through tonight’s quadruple witching expiry, and then there’s a rush of US data releases to consider next week. It must be said, however, in the context of the Fed’s rate hike and updated forecasts, they don’t really mean all that much. We can probably now wait until into the new year before Wall Street starts responding to new data releases vis a vis the next rate hike.
But for the record, next week sees a flash read of the US services PMI, existing home sales, and then all on the Thursday before Christmas, the Chicago Fed national activity index, Conference Board leading indicators, durable goods, house prices, personal income and spending and another revision of September quarter GDP.
On the Friday before Christmas, the NYSE closes at 1pm.
The Bank of Japan holds a policy meeting on Tuesday.
The only local release of any note next week is the minutes of the December RBA meeting. That meeting was pre-Fed and is already largely redundant. There is very little in the way of corporate activity next week.
FNArena will cease regular service for 2016 on Thursday, Dec 22, returning on Monday, January 16. The website will remain accessible over that period.
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