Weekly Reports | Dec 08 2023
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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
Tonight’s US November jobs report is considered a make-or-break for the Wall Street rally that began in October but has since stalled, despite bond yields continuing to fall.
The next make-or-break comes next week with the November CPI numbers on Tuesday night, followed by the PPI on Wednesday.
The Fed then releases its next policy statement on Wednesday afternoon. Wall Street will need both jobs to be weak and inflation to be lower to get the right response from the Fed, given the ten-year yield has fallen some -80 basis points since the last meeting when the Fed decided financial conditions were already tight enough.
US November retail sales then follow on Thursday, which take into account Black Friday (week), and industrial production on Friday.
China reports November PMIs tomorrow. Next Friday, China reports November retail sales, industrial production and fixed asset investment numbers.
The Bank of England meets on Thursday night.
New Zealand reports September quarter GDP on Thursday.
Locally we’ll see the NAB business and Westpac consumer confidence surveys on Tuesday and the November jobs numbers on Thursday.
Friday we’ll see the quarterly rebalance of the ASX200, to become effective from Monday morning.
For a calendar of earnings result releases and a summary of earnings results to date, refer to FNArena's Corporate Results Monitor (https://www.fnarena.com/index.php/reporting_season/)
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