1. Markets are entering a shortened Thanksgiving week after significant losses, with major indexes breaking below key support levels. Despite strong Nvidia earnings, growth stocks and Bitcoin suffered declines. Technical deterioration signals the need for defensive positioning until genuine market strength is demonstrated. This week’s economic data will be compressed into two sessions, featuring retail sales, PPI, consumer confidence, Q3 GDP revision, Core PCE inflation data, durable goods orders, and initial jobless claims. Earnings from Alibaba, Dell, Workday, Zscaler, and Deere will provide insights into global consumer spending, enterprise IT investment, and industrial equipment demand.
2. Key things to watch this week include September retail sales data, consumer confidence reports, Q3 GDP revision, Core PCE Price Index, durable goods orders, and initial jobless claims. The focus is on consumer spending resilience heading into the holiday shopping season. The convergence of actual spending data and sentiment indicators will be essential for assessing the economy’s momentum amid market turbulence.
3. Earnings from Dell, Workday, and Zscaler will offer insights into enterprise technology spending amidst economic uncertainties and growth stock selloffs. Dell’s results will reflect PC demand and corporate IT budgets, Workday will provide clues about enterprise software spending, and Zscaler’s results will test cybersecurity investment priorities. Guidance on corporate IT spending intentions will be crucial for determining technology budgets’ resilience.
4. Alibaba’s earnings will provide perspectives on Chinese consumer behavior, e-commerce trends, and government stimulus effectiveness. Deere’s earnings will offer insights into North American agricultural equipment demand and construction equipment markets. Both earnings will help assess consumer resilience and industrial equipment spending in China and North America.
5. The holiday trading week creates unique market dynamics with reduced liquidity and potential price movements in either direction. Following last week’s technical breakdown, the market faces a critical test of buyer support. Investors will monitor growth stocks, institutional participation, and positioning decisions amidst the compressed trading schedule. The market must demonstrate sustained strength and reclaim broken support levels to shift from a defensive posture.

Read more at Barchart: GDP, Retail Sales and Other Can’t Miss Items this Week