The major economic releases and events: November 22 to November 26

US GDP, RBN zero rate decision

Next week in the US will have the Thanksgiving day holiday on Thursday, November 25 which extends into Friday, November 26, and will have traders leaving early on Wednesday, November 24. As a result, releases are limited and expectations are the same.

Of note is that the Pres. Biden has said that he will announce his decision for the Fed chairmanship before Thanksgiving. A time and date is yet to be determined.

Below are the key releases and events that should shape the market price action.
Tuesday November 23rd:
On Tuesday, flash manufacturing/service PMI data will be released out of Europe including out of France, Germany, EU. France bought get things started with the release at 3:15 AM ET/0815 GMT. Germany will follow at 3:30 AM ET/0830 GMT. EU at 4 AM ET and UK at 4:30 AM ET/0930 GMT will finish the European releases.
In the US, the flash manufacturing PMI will be released at 9:45 AM with expectations of 59.0 versus 58.4 last month. The services PMI is expected to come in at 59.1 versus 50.7
Wednesday, November 24


NASDAQ index closes the week at a record. Trades to a record intraday high as well

Dow and S&P close lower

The US major stock indices are closing with mixed results.
Some highlights for the major indices:
  • The NASDAQ index closed at a record level. The index rose 63.74 points or 0.4% to 16,057.45. The index reached an intraday new all time high at 16,121.12. The low extended to 16017.23.  The NASDAQ index closed above 16,000 for the first time ever
  • The S&P index stretch to just 1 point short of reaching a new all-time intraday high at 4718.50. The high price today reached 4717.75. The price rotated lower after the failed attempt. The index is closing at 4697.95. That is down -6.6 points or -0.14%. The S&P closed at a record level on Thursday, but not today
  • The Dow industrial average was down for most of the trading day. The index fell -268.97 points or -0.75% to 35601.99.  The large declines to the index down -315.58 points or -0.8%. The high price for the index up a small 8.14 points or 0.02%
Losers today included
  • Energy
  • Financials, and
  • Healthcare

The winners included

  • Technology,
  • Consumer discretionary, and
  • Utilities
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