It’s a holiday-shortened week, with markets across the globe closed on Friday for Christmas Day. U.S. stock trading ends at 1 p.m. on Thursday.
Tesla stock officially joins the S&P 500 on Monday. It will be the largest ever addition to the index.
Economic data out this week include the Conference Board’s Consumer Confidence Survey for December on Tuesday. It’s expected to fall to 83, from 96.1 in November. On Wednesday, the Bureau of Economic Analysis releases December Personal Income and Outlays data. Spending is forecast to have climbed 0.3%, while income is expected to have declined 0.3%.
On Thursday, the Census Bureau releases its Durable Goods report for November—often viewed as a decent proxy for business investment. Economists predict an 0.8% rise last month, following a 1.3% gain in October.
FactSet Research Systems and Heico release quarterly financial results.
The European Medicines Agency meets to review the Pfizer /BioNTech vaccine earlier than planned after pressure from Germany and other EU nations to move up the date.
Trip.com Group holds its shareholder annual meeting in Shanghai.
CarMax and Cintas host conference calls to discuss quarterly financial results.
The Conference Board releases its Consumer Confidence Survey, a monthly measure of public confidence in the health of the U.S. economy. Look for a reading of 97 for December, compared with November’s 96.1.
The National Association of Realtors releases its November tally of sales for existing single-family homes. NAR estimates that it captures 30% to 40% of all existing-home sale transactions with this monthly survey. Economists expect a seasonally adjusted annual rate of 6.675 million new-home sales, compared with October’s 6.85 million.
The Federal Reserve Bank of Richmond releases its Fifth District Survey of manufacturing for December. Expectations are for a 12 reading, compared with 15 in November. The composite index represents a weighted average of the shipments (33%), new-orders (40%), and employment (27%) indexes.
The National Basketball Association’s 72-game 2020-21 season begins.
The U.S. Bureau of Economic Analysis releases its monthly Personal Income and Outlays data. Look for personal consumption to increase 0.3% in December, compared with a 0.5% rise in November. Personal Income is expected to decline 0.3%, compared with November’s 0.7% drop.
The University of Michigan releases its final reading of the Index of Consumer Sentiment for December. Economists see a decline to 76.9 from the preliminary 81.4 reading for December.
The U.S. Census Bureau releases new-home sales for December. Look for a seasonally adjusted annual rate of 987,500 new units, compared with 999,000 units in November.
Paychex holds a conference call with investors to discuss quarterly financial results.
The Census Bureau releases its Durable Goods report for November. New orders for durable manufactured goods are expected to rise 0.55% after a 1.3% gain in October. Excluding transportation, new orders are seen edging up 0.5%, compared with 1.3% in October.
Trading ends at 1 p.m. on the New York Stock Exchange and the Nasdaq for Christmas Eve. The bond market closes at 2 p.m.
Financial markets all over the world, including the U.S, are closed in observance of Christmas Day.
Write to Nicholas Jasinski at firstname.lastname@example.org