The Week Ahead | Fed in Focus with December FOMC Minutes; Job Reports to Unveil Dynamics of the US labor market

Virtus Dividend, Interest & Premium Strategy Fund -0.68%
UniFirst Corporation +1.67%
Cal-Maine Foods, Inc. +1.47%
Walgreens Boots Alliance Inc +3.70%
Lamb Weston Holdings, Inc. +0.88%

Virtus Dividend, Interest & Premium Strategy Fund




UniFirst Corporation




Cal-Maine Foods, Inc.




Walgreens Boots Alliance Inc




Lamb Weston Holdings, Inc.




As the calendar turns to the new year, the opening week of January stands as a pivotal juncture for the financial landscapes of the Kingdom of Saudi Arabia and the United States. A series of important economic reports, coupled with earnings calls from key companies, is set to deliver valuable insights into the market's direction.

I. Economic Events

Investors in the Kingdom of Saudi Arabia will be looking to the Riyad Bank KSA Composite PMI for a read on the nation's industrial heartbeat. This metric is expected to provide critical insights into the vitality of the local industrial sector.

In the United States, after a quiet Monday with markets closed in observance of New Year's Day, a bustling week lies ahead. Starting Tuesday, the S&P Global US Manufacturing PMI will offer an early glimpse into the health of the manufacturing sector, setting the tone for the days to follow.

Midweek releases are set to offer a deeper dive into the US economic engine room, with the ISM Manufacturing PMI and JOLTS Job Openings scheduled for Wednesday. These releases are eagerly anticipated, as they promise a closer look at the industrial sector's strength and the dynamics of the US labor market.

As the week progresses, Thursday's agenda brings the energy market into focus with the API Weekly Crude Oil Stock. This is accompanied by a suite of employment indicators, including the ADP Nonfarm Employment Change and Initial Jobless Claims, offering forward-looking insights into the US employment landscape.

The week culminates on Friday with the Nonfarm Payrolls and the Unemployment Rate. Complemented by the ISM Non-Manufacturing PMI, these indicators are expected to provide a multi-faceted view of the US economy's performance, offering market participants data points crucial for assessing the economic trajectory as the new year unfolds.

II. Earnings Previews

As the United States market emerges from the quiet of New Year's Day, a series of important earnings announcements are anticipated to provide a snapshot of the economy's health through various industry lenses.

The week will begin with the Virtus Dividend Interest Premium Strategy Fund (also known as AllianzGI NFJ Dividend Interest & Premium Strategy Fund(NFJ.US) )revealing its findings on Tuesday.

Wednesday's agenda is marked by earnings from UniFirst Corporation(UNF.US), a key player in the service sector whose results will offer a glimpse into the sector's performance. On the same day, Cal-Maine Foods, Inc.(CALM.US), the largest producer and distributor of fresh eggs in the United States, will report its earnings. The figures from Cal-Maine will likely highlight current trends in the consumer staples sector, providing an indication of agricultural output and consumer spending on essential goods.

The week's earnings calls hit a high note on Thursday with reports from two major players. Walgreens Boots Alliance Inc(WBA.US), a giant in the retail and pharmaceutical realms, will disclose its financial health. This report is particularly significant as it serves as a proxy for consumer spending in retail and the broader health of the pharmaceutical sector. Simultaneously, Lamb Weston Holdings, Inc.(LW.US) will offer insights into the state of the food processing industry. As a supplier to fast-food giants and restaurants worldwide, Lamb Weston's performance can be a key indicator of global food consumption patterns and supply chain dynamics.

[This newsletter is written and edited by Candice from Sahm News Team]

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