Thursday, December 8, 2022

Traders Brace For Flood Of Market-Moving Events In The Week Ahead By


By Jesse Cohen – Stocks on Wall Street ended mixed on Friday, with the falling slightly to end a disappointing week.

The Dow slumped 28 points, or 0.1%, to 28,335. The rose 0.3% to 3,465, while the closed 0.4% higher at 11,548.

For the week, the Dow and S&P 500 lost 0.9% and 0.5%, respectively, to snap a three-week winning streak. The Nasdaq meanwhile dropped 1.1%, posting its first weekly loss in five weeks.

Between uncertainty surrounding ongoing stimulus talks in Washington, political developments ahead of the looming November 3 election, a heavy batch of high-profile earnings reports, as well as key economic data, next week is expected to be a busy one on Wall Street.

Google-parent Alphabet (NASDAQ:) is scheduled to release its quarterly results on Monday, followed by Microsoft (NASDAQ:) on Tuesday. Apple (NASDAQ:), Amazon (NASDAQ:), and Facebook (NASDAQ:) are then all due to report their respective results on Thursday.

The coming week also marks an important one on the economic calendar, with the big day coming on Thursday, when the U.S. releases the first look at third-quarter gross domestic product.

After the second quarter’s shocking 31.4% decline following coronavirus shutdowns, the economy is expected have bounced back, with growth of expected in the third quarter.

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