The stock market outlook is highly positive as it opens this Monday. The primary motivator of this upswing would be the release of vital economic data for the US markets. Specifically, new housing market data and inflation data from the Fed have caused significant shifts in market trends.
Futures contracts for stock indices made modest gains as of Sunday night in preparation for the Monday opening. For example, the Dow Jones gained 0.1%, while the Nasdaq Composite and S&P 500 futures saw nearly equivalent gains, both around 0.1%.
The companies with the most noteworthy stock growth in the previous week include Accenture, FedEx, and Nike, among others.
Upcoming Events for the Stock Market Outlook
A noteworthy event for this week will be the release of the Housing Market Index for December. Several important events are scheduled for this week. On Tuesday, a report on new residential construction will be released by the Census Bureau. Alongside this, we await the BoJ’s announcement of the measures they will take on inflation.
On Wednesday, we will see more housing data coming out. Specifically, we are waiting for the report on the sales of existing homes by the National Association of Realtors. The Consumer Confidence Index will also be a crucial indicator of the economy’s direction, potentially impacting stock market patterns.
We are also awaiting estimates of 3rd-quarter GDP growth. The Labor Department will issue data on unemployment benefits claims for the previous week.
Finally, Friday will bring important economic indicators. For one, there will be November personal income data alongside the expenditures price index. We should also expect the publication of the Fed’s inflation gauge. Additionally, the Census Bureau will release data on the sales of new homes, providing a contrast with their earlier housing data point. The impact of all these factors on the stock market outlook remains to be seen.
