The Market Week Ahead: Nov. 12 – Nov. 16

 

Nov. 12  – The market got pretty much exactly what it expected last week. Unfortunately, that wasn’t much of a catalyst for further gains. So now we’re back to worrying about economic growth around the world. 

On Monday, that translated into weakness in a lot of the tech stocks that had posted big gains this year, as those plays on growth get significantly less attractive if the economy slows down. Earnings reports This week should provide some ideas about consumer spending as there are a number of big retail names on the docket. There are also a couple of technology hardware names that could provide some insight into spending in those areas. 

From a technical perspective, we would have like to see the S&P 500 and the Nasdaq remain above their 200-day moving averages. Another potential sign of more bearishness ahead is the 50-day moving average crossed below the 100-day last, while the same thing seems poised to happen on the S&P 500. 

Consumer Staples, Utilities and Real Estate have all been strong, showing that investors are moving toward the traditional safe havens as they’re shedding the high fliers. Hopefully, this trend will continue, as markets get really ugly when people start pulling money out of stocks entirely and everything goes down together.

Economic Events this Week

There’s not a lot of interest here this week. CPI is a measure of inflation, but isn’t typically one the Federal Reserve is thought to rely on. Retails sales for October will be overshadowed by earnings reports from some big retail names this week.

  •  Wednesday
    • 8:30 a.m. – CPI
    • 10:30 a.m. – Crude Inventories
  •  Thursday
    • 8:30 a.m. – Retail Sales
  • Friday
    • 9:15 a.m. – Industrial Production
    • 9:15 a.m. – Capacity Utilization

Earnings Reports this Week

Retail dominates this week with names from Home Depot to J.C. Penney reporting this week. There’s also some tech hardware in here with Cisco and Nvidia probably drawing the most attention. 

Monday:

  • Before the bell: ATHM, ACM
  • After the bell: EQH, UGI, YY, APU, EB

Tuesday:

  • Before the bell: HD, TSN, AAP, ARMK, CAE
  • After the bell: TLRY, WIX, CWK, REZI

Wednesday:

  • Before the bell: M, CGC, GOOS
  • After the bell: CSCO, NTES, NTAP, ZTO, WPM

Thursday: 

  • Before the bell: WMT, BERY, SR, ENR
  • After the bell: NVDA, AMAT, JWN, HTHT, POST

Friday:

  • Before the bell: VIAB, HP

Sector Analysis 

The market hasn’t been great lately, so the longer lists are all on the downside this week.

Strong Sectors past Month

There isn’t much up 5% or more in the last 20 trading days:

  • Consumer Staples
  • Real Estate 
  • Airlines
  • Solar

Weak sectors past month

There’s a lot of red out there if you look at the last 20 days. These sectors are down 5% or more in the last 20 trading days:

  • Oil Services
  • Oil & Gas Exploration
  • Junior Gold Miners
  • Biotech
  • Commodities
  • Energy
  • Metals & Mining
  • Gold Miners
  • Semiconductors
  • MLPs

Strong sectors past five trading days

These sectors are up 3% or more in the last five trading days.

  • Utilities
  • Real Estate
  • Solar

Weak sectors past five trading days

These sectors are down 3% or more in the last five trading days.

  • Biotech
  • Junior Gold Miners
  • Gold Miners
  • Silver
  • Oil Services
  • Semiconductors
  • Volatility
  • Robotics and Automation
  • Steel
  • Metals & Mining

Bobby Raines

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.

You May Also Like