The Week Ahead – Forecast (Nov. 12 – 16)

by ogordained

Tuesday

  • Pot stocks report earnings with Cronos reporting pre-market and Tilray reporting after markets close. Canopy Growth Corp will follow them pre-market on Wednesday

Wednesday

  • Macy’s reports earnings pre-market. The stock is already up 30% this year – beating expectations of $0.13 EPS may not be enough to continue it’s upward climb with positive expectations already priced in.
  • The Commerce Department will release inflation data for October at 8:30AM. Consumer prices are expected to have risen 0.3% over the month and 2.5% over the year
  • China will release figures for industrial production in October

Thursday

  • Walmart reports pre-market. The stock is already up more than 20% this year. With consumer confidence near all-time highs, investors will be expecting outsized earnings and online sales growth. Last quarter they reported their strongest quarter in a decade.
  • The Commerce Department will release retail sales data for October. Sales are expected to have risen 0.6% over the month
  • Nvidia reports after markets close. Down 30% from their high this year, Nvidia had been hit particularly brutally by last months downturn and US-China tensions haven’t helped. JP Morgan recently upgraded the stock citing their long-term growth potential.

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