Join research director Kathleen Brooks for our latest market live at 12:00 GMT. Get her take on how Black Friday could impact stock markets, why European CPI is crucial for the euro, and a look ahead for December.
Is a Santa rally on the cards?
This week will be shortened in the US for Thanksgiving, which also means Black Friday is in focus at the end of this week. While Black Friday is no longer a one-day event, and instead spreads across weeks, investors will still be watching out for sales reports from the key retailers to see how sales have been impacted by a strong US economy and certainty about who the new President will be.
Last week the focus was on Nvidia’s earnings, however, this week we think that the market will be focusing on Amazon, Wall Mart and Target, to see if it will be another record-breaking Black Friday, or if the US consumer is starting to show restraint now that that there are some clouds on the horizon, including a potential rise in the unemployment rate and weakness in the housing market. Estimates are for a record 184.4 million people to shop in store and online over the Thanksgiving weekend. If this number is surpassed, then it could boost risk sentiment at the end of this week.
In the Eurozone, the focus will be on the November CPI estimate that will be released on Friday. The market is expecting the annual rate to rise to 2.3% from 2%, which is inline with global norms as energy prices have risen strongly of late.
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