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Penny Stocks & What To Watch In The Stock Market This Week Dec 19-Dec 23
Trading penny stocks right now? Here’s what to watch in the stock market this week December 19, 2022 to December 23, 2022.
The post Penny Stocks &…
Stock Market Outlook This Week: December 19th – December 23rd
What’s going on in the stock market this week? Whether you’re trading penny stocks or not, economic data is one of the driving forces in 2022. Last week was a lighter yet impactful week of economic events that sent markets lower. Inflation fears remain high, and the potential for a recession has kept markets on edge. This week is another one that won’t be as busy heading into the holidays. But the data that will come out could move markets.
Once again, investors weigh Fed Chair Jerome Powell’s comments after the December Federal Reserve meeting. His hawkish stance overshadowed a bullish November CPI report that came out a day earlier. This has become somewhat of the narrative for the last two FOMC meetings and Powell press conferences.
Monetary policy decisions made this time around included setting the Target Fed Funds Rate of 5.1% in 2023, 4.1% in 2024, and 3.1% in 2025, with a longer run of 2.5%. In a related action, the Board of Governors of the Federal Reserve System voted unanimously to approve a 1/2% point increase in the primary credit rate to 4.5%, effective December 15, 2022.
We Need More Evidence?
In his press briefing, Fed Chair Powell heavily focused on price stability and employment. He explained that the labor market is still out of balance and that the full effects of tightening have not been felt yet. Powell isn’t the only one concerned about the unusual dynamic in the labor market.
“We have too many jobs and too few workers, so that means that wage inflation is going to be far from a sustainable average, and we’re going to have that passing through to prices. That’s what we’re working on right now,” said Mary Daly, president of the Federal Reserve of San Francisco, at the American Enterprise Institute’s event last week.
– How to Find Reliable Penny Stocks Information
Even with this as the case, Powell mentioned that the Fed has covered a lot of ground. Meanwhile, October and November inflation numbers showed signs of inflation coming down. But, Powell said that it will take “substantially more evidence” that inflation is coming down. The last comment is what contributed to a sharp turn lower in markets during the FOMC press conference.
With more of “the same thing,” the market is torn between buying the dip and selling out based on inflation fall-out in 2023.
The Stock Market This Week: Key Economic Data To Know December 19th – December 23rd
Despite a quieter week for economic data, there are still domestic and global reports to weigh. Thursday ad Friday could be the more active days to watch. They include employment data, consumer data, durable goods, and home data. All of these points have been heavily monitored by those looking for breadcrumbs about the state of the economy and a gauge of future Fed policy decisions.
Stock Market News & Events On Monday, December 19, 2022
Eurozone wage data for Q3 gets things going on Monday. That’s followed by UK CBI industrial trends orders for December. Japan’s monetary policy comes into focus later in the evening and could be something to factor in for Tuesday’s trading. Japan gives its monetary policy statement as well as its interest rate decision.
Stock Market News & Events On Tuesday, December 20, 2022
Tuesday, we will get building permits and housing starts along with API weekly crude data. Housing and building information has been something that investors use to see how much or little is being spent on housing. Softening conditions have a tendency to suggest policy decisions are making a dent in inflation. Increasing rates have weighed heavily on home buyers.
Stock Market News & Events On Wednesday, December 21, 2022
More housing industry data comes out on Wednesday with mortgage rates & loan applications. Q3 Current account comes out at 8:30 AM ET, followed by consumer confidence, existing home sales, and crude inventories during the 10:00 AM ET hour.
The Current Account index measures the difference in value between exported and imported goods, services, and interest payments during the reported month. “Goods” are the same as the monthly Trade Balance. The data can have a significant impact on the USD. As we’ve seen, USD prices have been a negative catalyst for broader markets when prices rise.
– Penny Stocks Vs. Blue Chips, 3 Main Differences
Stock Market News & Events On Thursday, December 22, 2022
UK GDP data comes out along with Q3 Current Account and Business Investmentearly on Thursday. US Q3 GDP and Jobs data will be in focus at 8:30 PM ET. PCE prices and Real Consumer Spending for the third quarter will also be in the spotlight before markets open on December 22nd.
Stock Market News & Events On Friday, December 23, 2022
More US data rounds out the week with November Durable & Core Durable goods, Personal Spending & Income, and November PCE & Core PCE at 8:30 AM ET. Just after US markets open on Friday, December, Michigan Consumer Sentiment and Consumer Expectations get released along with New Home Sales for November.
What else should you prepare for in the stock market this week, and how should you be positioned to capitalize on the opportunities that come with it? Find out LIVE when you tune in to True Trading Group’s Stock Market LIVE Stream tonight on YouTube.
Notable Earnings In The Stock Market This Week
Earnings season is still on for Q3, with a few notable companies reporting their latest financial results in the stock market this week.
Monday, December 19, 2022, Most Anticipated Earnings
Tuesday, December 20, 2022, Most Anticipated Earnings
- Nike (NKE)
- General Mills (GIS)
- FedEx (FDX)
- FactSet Research Systems (FDS)
- Worthington Industries (WOR)
- BlackBerry (BB)
- AAR Corp. (AIR)
- FuelCell Energy (FCEL)
- Enerpac Tools Group (EPAC)
- CalAmp Corp. (CAMP)
- Cognyte Software (CGNT)
- Smart Share Global (EM)
- Calavo Growers (CVGW)
Wednesday, December 21, 2022, Most Anticipated Earnings
- Micron Technology (MU)
- Cintas Corporation (CTAS)
- Toro Company (TTC)
- MillerKnoll (MLKN)
- Rite Aid Corporation (RAD)
Thursday, December 22, 2022, Most Anticipated Earnings
- Paychex (PAYX)
- CarMax (KMX)
- Mission Produce (AVO)
- Apogee Enterprises (APOG)
- Limoneira Co (LMNR)
- Quipt Home Medical (QIPT)
The post Penny Stocks & What To Watch In The Stock Market This Week Dec 19-Dec 23 appeared first on Penny Stocks to Buy, Picks, News and Information | PennyStocks.com.
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