The Stock Market This Week
This week kicks off the 2023 season for traders and investors in the stock market. Whether you’re looking for more penny stocks to buy or trying to hone your skills at building a long-term portfolio, this could be another wild year, as we saw in 2022. There’s still plenty to look toward with 12 months ahead of us, but this isn’t an unattainable task. It will require extra attention to detail, including understanding how economic data will play its role.
Last year’s headlines were captivated by interest rates, Fed speakers, housing & employment data, and, of course, geopolitical tensions. Just because the calendars have turned a page doesn’t mean those same catalysts aren’t worth considering now.
This week, in particular, has no slowdown as the shorter holiday week will see last month’s Fed meeting minutes get revealed. What will it mean for the year ahead, and how can you use it in your trading game plan? Those answers will be revealed in the days to come.
As some traders say, it’s important to be reactive instead of predictive. Using headlines to your advantage as they come out has been a more favorable action than speculating on what “might” happen. Nevertheless, a plan will be necessary.
The Stock Market This Week: Economic Calendar For January 3rd – January 6th
What worked in 2020 and 2021 has long been forgotten. “Stonks” don’t “always” go up in the short term. The latest SPAC isn’t exploding hundreds of percentage points for days on end, and social sentiment is under heavy scrutiny.
This year is one to have a keen understanding of how to trade stocks and learn when to invest for the long term. It all starts with knowing what could impact daily trends in the stock market, and today we discuss which economic events could sway sentiment this week.
Stock Market News & Events On Tuesday, January 3, 2023
Tuesday kicks off the short week lighter, with German Unemployment and CPI data for December coming before the opening bell of US Markets. Shortly after, we’ll get December’s US manufacturing PMI data followed by November’s US Construction Spending figures.
Stock Market News & Events On Wednesday, January 4, 2023
German Services and Composite PMI, as well as Eurozone Services PMI, come out early on Wednesday morning. Retail Redbook details will come out right before US markets open and about an hour before ISM Manufacturing, Employment, and PMI data get reported. Wednesday also begins the flow of employment data this week with the latest JOLTs report.
Then the jewel of the week, as far as central bank policy is concerned, will be the 2 PM ET minutes from the last FOMC meeting. If you recall, at the previous meeting, Fed Chair Powell’s comments shook the market thanks to a more hawkish tone. However, he made mention of projected slower growth but not a recession. We’ll see if any additional details are revealed with the Fed minutes accompanying the meeting.
Stock Market News & Events On Thursday, January 5, 2023
The UK’s December Composite and Services PMI kick-start economic events for Thursday. However, it will be more US employment data that could have some of the most attention. December’s ADP non-farm employment change, as well as the latest round of jobless claims, come out during the 8 o’clock hour. We’ll get the latest trade balance data plus December’s Services and S&P composite PMI as markets open, followed shortly after by new crude inventory reports.
Stock Market News & Events On Friday, January 6, 2023
Friday sees the initial start of central bankers speaking. The Fed’s Cook and ECB’s Lane appear late in the morning. However, there will be plenty of economic data to sift through before that. It includes UK Construction PMI, Eurozone CPI & Core CPI, US Nonfarm payrolls & unemployment data, plus December’s US ISM non-manufacturing employment & PMI.
Notable Earnings In The Stock Market This Week
Just because this is the first week of the year doesn’t mean there aren’t a few earning reports to look forward to. Namely, the second half of the shortened week will be host to some of the more significant earnings reports, including:
- Constellation Brands Inc (STZ)
- Walgreens Boots Alliance, Inc. (WBA)
- ConAgra Brands, Inc. (CGA)
- Lamb Weston Holdings, Inc. (LW)
- RPM International Inc. (RPM)
- MSC Industrial Direct Company, Inc. (MSM)
- The Simply Good Foods Company (SMPL)
- Neogen Corporation (NEOG)
- Helen of Troy Limited (HELE)
- Lindsay Corporation (LNN)
- Duck Creek Technologies, Inc. (