A pivotal week ahead with the highly anticipated FOMC interest rate decision on Wednesday, where markets widely expect a 25 basis point cut. Adding to the potential market turbulence, key economic data releases on Thursday and Friday will validate or invalidate the Federal Reserve’s decision. Investors should brace for heightened volatility (VIX).
Monday
S&P Global Services PMI – Preliminary
S&P Global Manufacturing PMI – Preliminary
Tuesday
Retail sales
Wednesday
FOMC interest rate decision
Thursday
Initial jobless claim
Friday
PCE index
Consumer sentiment
Tracking This Week
Accenture (NYSE:ACN) is scheduled to report Q1 earnings on Thursday, December 18, before the market opens. Investors will focus on bookings, particularly AI-related contracts, as companies should be seeking to harness Accenture’s insights and extensive experience in digital transformation.
Dell Technologies (NYSE:DELL) has seen a 15% decline in its valuation following a disappointing earnings call in late November. The market may be done punishing the stock for their lack of execution and transparency. There is support at this price level and it may be close to a rebound.
Micron Technology (NASDAQ:MU) is set to report Q1 earnings on Wednesday, December 17, after the market closes. Investors will closely watch the company’s guidance, as recent commentary from Edgewater Research highlighted declining demand, which triggered a sell-off last month. Guidance will be critical in assessing its outlook for memory markets.
Microsoft (NASDAQ:MSFT) is one of the Magnificent 7 that is not yet trading at all-time highs but appears poised to move in that direction after a period of consolidation. However, negative developments surrounding OpenAI and Cruise, two significant investments, could weigh on sentiment and stall momentum.
NVIDIA (NASDAQ:NVDA) has faced recent headwinds as investor sentiment appears to have shifted, prompting a rotation out of the stock. Despite this, there is strong technical support at its current price level, though it is being tested. NVIDIA remains the most compelling play among the Magnificent 7, given its dominant position in AI and GPU markets. Its strength is underscored by continued heavy demand from the same group who rely on its products.
