The first week of December will be dominated by US non-farm payrolls figures as economists, politicians and central bankers gauge the state of the labor market.
Monday, December 4
The week starts on a quiet note, with no major earnings and the first trickle of economic data.
Others due to report:
Earnings: JOANN, GitLab
Economic announcements: Factory Orders, Auto Sales
Tuesday, December 5
NIO Inc (NYSE:NIO) will report its third-quarter 2023 unaudited financial results on December 5, and analysts will likely be watching the Chinese electric vehicle (EV) maker’s delivery figures amidst competition from Tesla and an economic slowdown in China.
The analyst consensus estimate is for a 3Q loss of $0.43 per share, a 19% increase from a year ago, on revenue that is expected to climb to $2.63 billion from $1.83 billion during the same period last year ...read the preview.
AutoZone, Inc. (NYSE:AZO) is set to report higher revenues and increased profits for the three-month period ending Saturday, November 18, when it reports its first-quarter fiscal 2023 results before the stock market opens.
The specialty retailer focused on automotive replacement parts and accessories is expected to report a 4.5% year-over-year increase in revenue from $3.99 billion to $4.17 billion ...read the preview.
Also, Tuesday morning will bring the Job Openings and Labor Turnover Survey (JOLTS), which Russ Mould of the firm AJ Bell thinks could be particularly telling.
“Job vacancies have been in decline for some time and the quits rate has cooled as well, perhaps as a sign that workers are a little less confident about the outlook and a little more willing to stay put and stick with their current employer,” Mould said.
Others due to report:
Earnings: Signet Jewelers, Asana, MongoDB, Dave & Buster's, Stitch Fix
Economic announcements: ISM Services, PMI Services
Wednesday, December 6
GameStop Corp (NYSE:GME) will report earnings fresh from returning to the 'meme stock' limelight as retail investors made a flurry of new trades ahead of the video game retailer's update ...read the preview.
Investors will also react to the ADP payrolls survey, due out Wednesday morning.
Others due to report:
Earnings: Chewy, Brown-Forman (NYSE:BF.B), Campbell’s Soup
Economic announcements: MBA Mortgage Applications, Balance of Trade, Wholesales Inventories, Crude Oil Inventories, Consumer Credit
Thursday, December 7
Broadcom Corporation (NASDAQ:AVGO)’s recently closed acquisition of virtualization software firm VMWare offers mid-to-high-single digit percent earnings per share (EPS) accretion, according to Bank of America analysts ...read the preview.
Others due to report:
Earnings: Broadcom, Lululemon Athletica (NASDAQ:LULU), Dollar General, Ciena
Economic announcements: Continuing Claims, Initial Jobless Claims
Friday, December 8
Investors will be watching for the November unemployment report and looking ahead to the Federal Open Market Committee's two-day meeting on December 13-14.
Others due to report:
Economic announcements: Non-Farm Payrolls, University of Michigan Confidence (Preliminary)