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Another trading year is officially planned. The S&P 500 ended the year with nine straight weeks of gains, but just shy of its all-time high. The broad market index recorded a return of 24.2% for the year. The Dow Jones Industrial Average rose 13.7%, while the Nasdaq was the biggest winner, surging nearly 43.4%. Despite all the excitement over the possibility of new highs, it was a quiet week for a market characterized by low volume in an overbought market. We decided not to get caught up in any FOMO and instead wait for a better opportunity to buy (or sell) stocks. A nice lull before the start of 2024 gave us a chance to look back at Q3 earnings and rate our holdings. As we head into the new year, we’re gearing up for some important macroeconomic reports and earnings releases from one of our holdings. 1. Work, work, work. The main event this week is Friday’s jobs report. Investors are generally focused on this issue because jobs are so important to an economy driven by consumption. They also honed in on the data in the report, particularly wage inflation, for clues about consumer purchasing power. This indirectly indicates the possibility of future inflation. So in addition to the headline numbers (economists expect an increase of 155,000 jobs), we are keeping a close eye on the unemployment rate (expected to be 3.8%) and wage inflation, which we expect to increase by 4% year-on-year. . The ADP jobs report was released a day earlier (usually released on Wednesday, except when markets are closed on Monday), and economists expect it to add 115,000 jobs. Investors are expected to analyze the ADP report for clues in Friday’s report, which is weighted heavily in non-farm payrolls. The JOLTS job report will also be released on Wednesday. JOLTS measures the number of job openings (more job openings means fewer workers to fill them, indicating a tight labor market, supply and demand), hiring rates, and turnover rates. Analyze. 2. Is manufacturing still in recession? The ISM manufacturing report will be released on Wednesday and factory orders will be released on Friday. As of Friday, the consensus forecast for ISM Manufacturing was 47.1, with the economy still expected to be in a manufacturing recession. It is important to keep an eye on orders from factories as well, but reporting is delayed further. This will be his November release, while ISM will be his December release. It is also likely to overshadow the non-farm payrolls report released Friday morning. ISM services will also be held on Friday, with economists hoping for December’s figure of 52.7%. As a reminder, the ISM report measures shrinkage or expansion as measured by distance from a 50-level benchmark. Below 50, the contraction will be faster; above 50, the expansion will be faster. 3. One last club earnings report. Constellation Brands will report third-quarter results Friday before the opening bell. We’ve seen some positive preview notes in recent weeks. Analysts at JPMorgan call STZ a top beverage stock for 2024, while analysts at Barclays raise their price targets on strong beer sales and analysts at Goldman Sachs rate STZ a “Conviction Buy.” ” he repeated. In addition to monitoring continued strength in beer (remember last time beer depletion accelerated at a faster rate than Wall Street modeled), wine and spirits sales are starting to recover. Look for confirmation of management messages. Up. Monday, January 1st Market closed for New Year’s Day Tuesday, January 2nd No notable events Wednesday, January 3rd 10am ET: ISM Manufacturing 10am ET: JOLTS Jobs 2pm Hours (ET): Minutes before the FOMC bell: UniFirst Corporation (UNF) After the bell: Cal-Maine Foods (CALM) Thursday, January 4th 8:15 a.m. ET: ADP Employment Report 8:30 a.m. ET : First Unemployment Claims Before the Bell: Walgreens Boots Alliance (WBA), Lamb Weston (LW), RPM International (RPM), Conagra Brands (CAG) Friday, January 5th 8:30 a.m. ET ): Nonfarm Payroll 10 AM ET: Factory Orders 10 AM ET: Before the ISM Service Bell: Constellation Brands (STZ), Greenbrier Companies (GBX) (Jim Cramer Charitable Trust (For a complete list of stocks, see here.) As a subscriber to Jim Cramer’s CNBC Investment Club, you will receive trade alerts before Jim makes a trade. . After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
A case of Constellation Brands’ Corona beer sits on a cooler shelf during a delivery on Tuesday, April 2, 2019, in Ottawa, Illinois, USA.
Daniel Acker | Bloomberg | Getty Images
Another trading year is officially planned. The S&P 500 ended the year with his ninth consecutive week of gains, but fell just short of its all-time high. The broad market index recorded a return of 24.2% for the year. The Dow Jones Industrial Average rose 13.7%, while the Nasdaq was the biggest winner, surging nearly 43.4%.
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