The third quarter gross domestic product (GDP) data for Germany, the purchasing managers’ index (PMI) and unemployment claims in the US on Wednesday will set the agenda for IBEX 35 investors this week, with Thanksgiving Day on Thursday in the US and only half a session on Wall Street on Friday, known as Black Friday or the day of all shopping.
The week will start with the release of Germany’s October producer price index (PPI), which is expected to show a moderating trend, and the Bundesbank’s report.
Then, on Wednesday, investors’ attention will focus on the euro zone’s consumer confidence index for November, which remains at historically low levels, and one day later, the PMI for the same month.
The week will end for the IBEX 35 on a semi-holiday on Wall Street, with only a single session after Thursday’s Thanksgiving Day and the arrival of the day of all American Christmas shopping, known as Black Friday. On the same day in Europe, Germany’s Ifo sentiment survey and business expectations will be published, as well as the country’s third quarter GDP.
On the corporate front, Lar España Real Estate Socimi’s third quarter results in Spain will be released on Friday.
For the IBEX 35, the main reference will be the PMI.
In the US, as in Europe, the main macroeconomic reference will be the PMI, to be released on Friday, which could be affected and enter below the contraction level due to the deterioration of economic sentiment, the cooling of the labour market and the lower dynamism of private consumption.
Earlier on Wednesday, US jobless claims data will be released, reflecting the trend in the labour market, as well as the final reading of the University of Michigan’s consumer confidence indicator, the mortgage refinancing index, and durable goods orders.
Technology giants Nvidia, HP and Autodesk will release their third quarter results, which will undoubtedly have an impact on the IBEX 35.
In the Asia-Pacific region, in a week with few macroeconomic references, the decision of the People’s Bank of China (PBoC) will stand out, which will possibly maintain the 1-year prime lending rate at 3.45%.
Japan celebrates Labour Day on Thursday, and one day later, on Friday, the CPI will be released, which, according to Nextep Finance director Víctor Alvargonzález, is important as it is a good indicator of what will happen in the rest of the world.