Next week is a short one on Wall Street, but the economic calendar is still jam-packed with noteworthy reports. Included in the lineup are the second reading on third-quarter gross domestic product (GDP) and the latest Personal Consumption and Expenditures Price Index (PCE) – the Federal Reserve's preferred measure of inflation.
Tuesday, November 27: The Federal Open Market Committee (FOMC) meeting minutes: The Fed will remain data dependent when it comes to rate cuts.
Wednesday, November 28: PCE and core PCE: PCE and core PCE likely accelerated at a slightly faster annual pace in October, say Goldman Sachs economists.
You can read on to see the entire weekly economic calendar of the most important upcoming economic reports scheduled to be released over the next several days. At times, we provide expanded previews and recaps for select reports.
Please check back often. This economic calendar is updated regularly. Bolded reports are those considered more noteworthy and all reporting times are in Eastern Time.
Economic calendar highlights
Monday (11/25)
There are no noteworthy economic reports scheduled for Monday, November 25.
Tuesday (11/26)
The Fed minutes show support for a gradual approach to rate cuts
The November Fed meeting was a key event on the economic calendar as market participants were anxious to see how big of a rate cut the central bank would enact on the heels of its half-percentage-point cut in September.
The answer to that question was a smaller quarter-percentage-point rate cut, though Fed Chair Jerome Powell noted in his subsequent press conference that the pace and magnitude of future rate cuts will be dependent on data.
"In discussing the outlook for monetary policy, participants anticipated that if the data came in about as expected, with inflation continuing to move down sustainably to 2 percent and the economy remaining near maximum employment, it would likely be appropriate to move gradually toward a more neutral stance of policy over time," the minutes from the Federal Open Market Committee's (FOMC) November meeting stated.
This aligns with what Powell said in a mid-November speech, namely that the central bank is in no rush to cut rates, with the strength of the economy giving the committee "the ability to approach our decisions carefully."
Powell's speech and the "minutes from the FOMC's last meeting confirm a broad support for taking a more cautious approach in easing monetary policy," says Priscilla Thiagamoorthy, senior economist at BMO Capital Markets.
Wednesday (11/27)
PCE and core PCE arrive just in time for Thanksgiving
The PCE is a main event on the economic calendar. The data, which tracks consumer spending, follows recent reports showing that inflation remains sticky.
In September, both headline and core PCE, which excludes volatile food and energy costs, rose at a faster monthly pace than what was seen the month prior.
This time around, Goldman Sachs economists expect headline PCE to be up 0.25% month to month and 2.32% year over year. Core PCE is forecast to rise 0.27% and 2.79% on a monthly and yearly basis, respectively. The annual paces represent a slight uptick from September's numbers.
Thursday (11/28)
Thursday, November 28, is a stock market holiday, with the equities and bond markets closed for Thanksgiving. There are no noteworthy economic reports scheduled for release.
Friday (11/29)
The stock market will close early at 1 pm Eastern time on Friday, November 29. The bond market will shutter at 2 pm.
Reporting schedules are provided Forex Factory and MarketWatch.
