Notable companies reporting earnings this week include Lennar on Wednesday, FedEx and General Mills on Thursday, and Nike and Darden Restaurants on Friday. Health care investors will also be tuning in to several investor days this week: AbbVie on Monday, Eli Lilly on Tuesday, and Centene on Friday.
The economic highlight of the week will be Wednesday’s decision from the Federal Open Market Committee, after the Fed’s interest rate-setting panel concludes its last two-day meeting of 2020. Officials aren’t likely to budge rates from near zero, but could tweak the central bank’s bond-buying program. Remarks from chair Jerome Powell after the meeting will be closely parsed by Fed watchers, as usual. The Bank of Japan also announces a monetary policy decision on Friday.
Economic data out this week includes the Census Bureau’s retail sales data for November on Wednesday, along with IHS Markit’s Manufacturing and Services Purchasing Managers’ Indexes for December. On Friday, the Conference Board releases its Leading Economic Index for November.
There will also be several housing-market data points released this week. On Wednesday, the National Association of Home Builders releases its NAHB/ Wells Fargo Housing Market Index for December, and on Thursday the Census Bureau reports new residential construction data for November.
Monday 12/14
AbbVie hosts a conference call to discuss its immunology business and pipeline.
Trane Technologies holds an investor meeting.
Tuesday 12/15
Eli Lilly hosts a conference call to announce and discuss its financial guidance for 2021.
The Federal Reserve Bank of New York releases its Empire State Manufacturing Survey for December. Consensus estimate is for a 7.5 reading, higher than November’s 6.3 figure.
The Bureau of Labor Statistics reports import and export price data for November. Expectations are for a 0.3% month-over-month rise in import prices, after a 0.1% dip in October. The October decline was the first for the import price index since April. Export prices are seen rising 0.3%, a tick higher than the October data.
Wednesday 12/16
The Federal Open Market Committee announces its monetary-policy decision. The FOMC is expected to keep its federal-funds rate unchanged near zero but might make changes to its bond-buying program.
Lennar reports fourth-quarter fiscal-2020 results.
The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for December. Economists forecast an 88 reading, just below November’s 90, an all-time high for the index.
The Census Bureau reports retail sales data for November. Spending on retail and food services is expected to rise 0.1% month over month to $554 billion. Excluding autos, the increase is forecast to be 0.3%.
IHS Markit releases its Manufacturing and Services Purchasing Managers’ Index for December. Consensus estimates are for a 56.3 Manufacturing PMI and 58 Services PMI. Both figures are roughly even with the November data, which were both 2020 highs.
Thursday 12/17
Accenture, FedEx, and General Mills report quarterly results.
The Census Bureau reports new residential construction data for November. Housing starts are expected to remain flat at a seasonally adjusted annual rate of 1.53 million. Building permits are seen falling to 1.52 million from October’s 1.54 million.
Friday 12/18
Darden Restaurants and Nike hold conference calls to discuss earnings.
Centene holds an investor meeting, when it will provide financial guidance for 2021.
The Bank of Japan announces its monetary-policy decision. It is widely expected to keep its key interest rate unchanged at negative 0.1%.
The Conference Board releases its Leading Economic Index for November. Economists forecast a 0.3% monthly gain for the index, after a 0.7% rise in October.
Write to Nicholas Jasinski at [email protected]
