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Business News/ Markets / Stock Markets/  Wall Street week ahead: Investors eye key US economic data, OPEC+ meet
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Wall Street week ahead: Investors eye key US economic data, OPEC+ meet

The US GDP (second estimate) data for third quarter is set to be released on November 29

The US stocks closed mixed on Friday. (REUTERS)Premium
The US stocks closed mixed on Friday. (REUTERS)

On Wall Street in the week ahead, investors will be eyeing key economic data that include gross domestic product (GDP) numbers and PCE reports, and OPEC+ meet.

The US GDP (second estimate) data for third quarter is set to be released on November 29.

The economic reports could provide clues on the extent of the US Federal Reserve’s monetary policy impact.

To assess oil output, the ministers of Organization of Petroleum Exporting Countries and its partners (OPEC+) will meet on November 30.

On November  27, new home sales data for October will be released.

On November 28, a report on consumer confidence will be released.

November 30 will see the personal consumption expenditures (PCE) reports, followed by ISM manufacturing data for November on December 1.

Earnings

Following companies are due to declare their quarter results in the week ahead –

Zscaler, Seadrill Limited, Intuit, Workday, Splunk, NetApp, Hewlett Packard Enterprise, CrowdStrike, Salesforce, Snowflake, Dollar Tree, Hormel Foods, Five Below, Royal Bank of Canada, Toronto-Dominion Bank, Dell Technologies, Kroger, and Bank of Montreal.

US stocks

The US stocks closed mixed on Friday.

The Dow Jones Industrial Average rose 117.12 points, or 0.33%, to 35,390.15. The S&P 500 gained 2.72 points, or 0.06%, at 4,559.34. The Nasdaq Composite dropped 15.00 points, or 0.11%, to 14,250.86.

The US dollar fell to 149.48 yen from 149.60 Japanese. The euro rose to $1.0945 from $1.0884. The yield on the 10-year treasury rose to 4.47% from 4.41%. The yield on the 2-year treasury rose to 4.95% from 4.90%.

The US crude oil benchmark for January delivery fell $1.56 to $75.54 per barrel on Friday. Brent crude for January delivery fell 84 cents to $80.23 per barrel.

Natural gas for December delivery fell 4 cents to $2.86 per 1,000 cubic feet.

Gold for December delivery rose $10.20 to $2,003 per ounce. Silver for December delivery rose 65 cents to $24.34 per ounce.

In overseas markets, shares were mostly higher in Europe, while Asian markets ended mixed. 

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Published: 26 Nov 2023, 08:10 PM IST
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