This week's important schedule overview
The Federal Reserve's favored inflation indicator, October PCE data, is to be released.
The Federal Reserve may not see more signs of inflation relief before deciding whether to cut rates again in December. In particular, the core PCE price index, which the market is most focused on, is predicted to show a year-on-year increase of 2.8% in October.
After Trump won the presidential election, the Federal Reserve became increasingly cautious about rate cuts. As Trump promoted tax cuts and increased tariffs, Wall Street generally worried that inflation pressures would increase further in the coming year.
The Federal Reserve will release the minutes of the November monetary policy meeting.
At 3 a.m. on November 27, Beijing time, the Federal Reserve will release the minutes of the November monetary policy meeting. Economists at HSBC pointed out in a report that the minutes of the November meeting may show discussions by some decision-makers regarding the economic impact that the results of the U.S. elections may bring.
Money market pricing shows that investors currently expect a slightly higher than 50% probability of a Fed rate cut in December. From now until the end of 2025, the total rate cut is expected to be only 67 basis points.
Meituan announced its Q3 performance on Friday.
According to predictions from several brokerages, Meituan's expected revenue for the third quarter of 2023 is between 75.5 billion and 76.231 billion yuan, compared to 62.619 billion yuan during the same period last year, representing an annual increase of 20.6% to 21.7%. In addition, according to the expectations of some institutions, Meituan's net income for the third quarter is estimated to be between 2.4 billion and 3.502 billion yuan, compared to 1.217 billion yuan in the third quarter of 2022, representing an annual increase of 97.2% to 187.8%.
Citi pointed out that Meituan's adjusted EBITDA and adjusted net income for the third quarter may exceed market expectations, benefiting from seasonal support from tourism and in-store visits during the summer, with dining takeaway revenue expected to meet market expectations.
Nomura indicated that Meituan's takeaway revenue for the third quarter grew by 18% year-on-year, driven by a 19% increase in order volume. However, the average amount per order decreased by 3% year-on-year. In-store revenue increased by 34% year-on-year, and it is expected that the adjusted net income margin will decline by 16 percentage points to 33% year-on-year, influenced by promotional activities.
China's official manufacturing PMI for November will be released.
On November 30, the National Bureau of Statistics will release the PMI data for November. In October, the manufacturing Purchasing Managers' Index (PMI) was 50.1%, an increase of 0.3 percentage points from the previous month, indicating a recovery in the manufacturing economic level.
It is noteworthy that historically, October often shows seasonal weakness in manufacturing due to holiday factors, but this October, the PMI exhibited an unusual increase. In this regard, Wang Qing, chief macro analyst at Dongfang Jincheng, stated that incremental policies boosted production speed, and the manufacturing PMI still has room for increase this year.
Thanksgiving market closure.
On November 28 (Thursday), Thanksgiving will be observed, and all financial markets in the USA, including the US stock market, will be closed for one day.
On November 29th (Friday), the nyse and nasdaq will close early at 1 PM local time (2 AM Beijing time on Saturday), with trading hours from 10:30 PM Beijing time to 2 AM the next day, which is 3 hours earlier than the regular closing time.
Multiple new stocks are being listed.
Xiaoma Zhixing will be listed on the usa stock market on Tuesday, and Pohua Biotechnology will be listed on the usa stock market on Friday.
S.F. Holding will be listed on the Hong Kong stock market on Wednesday, Jiuyuan Gene will be listed on the Hong Kong stock market on Thursday, and Mengjinyuan will be listed on the Hong Kong stock market on Friday.
This week's key performance calendar
November 25th, Monday
Keywords: Dallas Federal Reserve Business Activity Index; ZOOM
On Monday, economic data regarding the Dallas Federal Reserve Business Activity Index will be released.
Regarding financial reports,$Zoom Video Communications (ZM.US)$will release its financial report in post-market trading.
November 26, Tuesday
Keywords: Conference Board Consumer Confidence Index; Pony.ai; Dell Technologies
In terms of financial data, the Conference Board Consumer Confidence Index will be released at 23:00, and the US FHFA House Price Index month-on-month rate, along with other real estate data such as the annualized number of new home sales in the USA, will be published sequentially.
In terms of financial reports, $ZHIHU-W (02390.HK)$Will release the financial report after the hong kong stock market closes.$Dell Technologies (DELL.US)$、$CrowdStrike (CRWD.US)$、$HP Inc (HPQ.US)$will release its financial report in post-market trading.
In terms of new stocks, $Pony AI (PONY.US)$Will be listed on the nyse today.
November 27, Wednesday
Keywords: Federal Reserve meeting minutes; core PCE; usa GDP; s.f. holding
In terms of economic data, profits of large industrial enterprises in china for October will be announced at 9:00 a.m. Beijing time, and the usa core PCE price index for October will be released at 11:00 p.m. Beijing time! The revision of the usa third quarter actual GDP annualized quarterly rate and the number of initial jobless claims in the week ending November 23 will be published at 9:30 p.m. Beijing time.
In terms of financial events, the Federal Reserve will release the monetary policy meeting minutes at 3:00 a.m. Beijing time.
In terms of new stocks, $SF HOLDING (06936.HK)$Will be listed on the Hong Kong stock market today.
November 28, Thursday.
Keywords: Thanksgiving market closure; Jiuyuan Genetics.
In terms of financial events, the usa stock market is closed today due to the Thanksgiving holiday.
In terms of new stocks, $JIUYUAN GENE (02566.HK)$Today will be listed on the Hong Kong stock market.
November 29, Friday.
Keywords: USA Chicago PMI; Dream Garden; Park Hee-seong biotechnology; half-day market.
In terms of financial data, the USA Chicago PMI will be announced at 22:45 Beijing time.
In terms of financial events, on the day after Thanksgiving, the USA stock market will close for half a day.
Regarding financial reports,$MEITUAN-W (03690.HK)$、$MNSO (09896.HK)$The financial report will be released after post-market trading in Hong Kong.
Regarding new stocks,$MOKINGRAN (02585.HK)$will be listed on the Hong Kong stock market today,$Park Ha Biological Technology (PHH.US)$Will be listed on the nyse today.
November 30, Saturday.
Keywords: China's official manufacturing PMI
In terms of financial data, China's official manufacturing PMI will be released at 9:30 AM Beijing time.
Wishing Mooers a successful week of investment!
Editor/Lambor
