News

The Week Ahead – Boxing Day Closes Some Markets on 27th

Economy
0 min read

Investors Watching for a “Santa Rally” the Last Trading Week of 2022

Stocks in the US closed higher Friday after consumer inflation continued to ease modestly, and consumer expectations are for the trend to continue. This could set the stage for the week ahead as some expect the probability of a “Santa rally” as investors may begin using their dry powder to wave in some stocks that have gone down with the crowd but are historically cheap and showing value.

Stock markets in London, Toronto, Sydney, Hong Kong, and Johannesburg are closed. on Tuesday, December 27, since Boxing Day was already a holiday since Christmas fell on a Sunday.  

The four-day trading week ahead includes the latest data on home prices with the S&P CoreLogic Case-Shiller National Home Price Index and Freddie Mac’s House Price Index (October). On Wednesday, the National Association of Realtors (NAR) will issue pending home sales figures (November). The strength of the manufacturing sector on Friday, with the Chicago Purchasing Managers’ Index (PMI) for December, has market-moving potential on the last trading day of the year.

Monday 12/26

  • Markets and Government Offices closed.

Tuesday 12/27

  • Stock markets in London, Toronto, Sydney, Hong Kong, and Johannesburg are closed.  
  • 8:30 AM ET, The US Goods Deficit (Census basis) is expected to narrow to $97.0 billion in November after deepening by more than $6 billion in October to $98.8 billion.
  • 8:30 AM ET, Wholesale Inventories, where buildups have been lessening, are expected to rise 0.4 percent in the advance report for November.
  • 9:00 AM ET, Case-Shiller Home Price Index, forecasters see the adjusted 20-city monthly rate falling 1.2 percent again in October after a decline of 1.2 percent in September for an unadjusted annual rate of 8.1 percent versus September’s 10.4 percent.

Wednesday 12/28

  • 10:AM ET, Richmond Fed Manufacturing Index, the manufacturing composite is expected at minus 6, in December vs. minus 9 in November and minus 10 in October.

Thursday 12/29

  • 8:30 AM ET, Jobless Claims for the December 29 week are expected to come in at 222,000 versus 216,000 in the prior week.

Friday 12/30

• 9:45 AM ET, The Chicago PMI is expected to bounce back in December to 41.0 versus November’s much weaker-than-expected 37.2.

  • The Bond markets are scheduled to close at 2 PM. Stocks have the benefit of a full trading day to close out 2022.

What Else

Replays of the Noble Capital Markets analysts’ discussions of companies they cover on Wall Street Wish List, are now available on Channelchek to help you create your own wish list for 2023. Find them here in Channelchek’s Video Content Library.   And if you haven’t signed up for regular emails from Channelchek now is a good time to sign-up and see how helpful they are

Happy New Year from the entire content team at Channelchek!

Paul Hoffman

Managing Editor, Channelchek

Sources

https://www.barrons.com/articles/stock-market-open-closed-today-hours-boxing-day-christmas-51671801332

https://www.aarp.org/money/investing/info-2022/stock-market-holidays.html#:~:text=The%20bond%20markets%20shut%20down,Friday%2C%20Dec.%2030).

https://us.econoday.com/byweek.asp?cust=us

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