The upcoming week will be holiday-shortened, with markets closed on Wednesday for New Year’s Day. Trading volume is expected to remain light as year-end tax-loss harvesting and adjustments by fund managers are likely complete. With no major economic data releases on the calendar, the week is expected to be relatively quiet in terms of market-moving events.
Monday
Tuesday
Wednesday
Markets closed
Thursday
Initial jobless claims
S&P Global Manufacturing PMI
Friday
ISM Manufacturing PMI
Tracking This Week
Accenture (NYSE:ACN) appears to be consolidating after its strong earnings report earlier this month, potentially positioning for a run to test its all-time high from three years ago. However, broader macroeconomic factors may be contributing to its current stagnation at this level.
GameStop (NYSE:GME) has shown notable resilience recently, despite the absence of substantial news. While Roaring Kitty’s posts no longer generate the same impact, retail investor support remains strong and poised to drive momentum. Any meaningful news about the company’s future could serve as the catalyst needed to ignite significant movement in the stock.
Palo Alto Networks (NASDAQ:PANW) has been pulling back over the past few weeks after reaching its all-time high of $207. With no major news or events driving the recent decline, the focus will be on whether the stock extends its pullback or resumes its upward trajectory in its stair-step pattern.
