List of Heavy Schedule for This Week
As the Christmas holiday approaches and financial markets in many parts of the world are closed, will the "Santa Claus market" in the US stock market repeat itself?
Due to the Christmas holiday, financial markets in the United States, Hong Kong, Singapore, and Australia will be closed half a day early on Tuesday, while European financial markets will be closed for one day; On Wednesday, financial markets in many places including the United States, Hong Kong, Singapore, Australia, Canada, and Europe will be closed; On Thursday, Hong Kong and European stock exchanges will be closed, while Australia and Canada will be closed for one day due to festive occasions.
In addition, it is worth looking forward to whether the previous "Santa Claus market" in the US stock market can be reproduced. From a historical perspective, during the seven trading days after Christmas each year, namely the five trading days at the end of the year and the first two trading days of the following year, investors tend to go long, and the US stock market is highly likely to rise. These seven days are known as the "Santa Claus market". Data shows that over the past 70 years, the average return rate of the S&P 500 index during the Christmas market period was 1.3%, with a nearly 80% chance of rising during these seven trading days.
This week, there were no speeches from Federal Reserve officials, but attention can be paid to the US Consumer Confidence Index, initial jobless claims, and other related indicators
The US stock earnings season has ended, and due to the Christmas holiday, there have been no speeches from Federal Reserve officials this week, and there are not many data to be released.
On Monday, the Conference Board Consumer Confidence Index may attract some market attention. The index has been on the rise in the past two months, while one of its sub indices, the "Job Difficulty" index, has been declining during the same period. The latter is closely positively correlated with the official unemployment rate, so a further decline in this indicator in December will indicate accelerated employment growth and may further boost the US dollar.
On Tuesday, the United States will release durable goods orders and new home sales data for November. The market expects durable goods orders to increase by 0.3% in October before falling by 0.4% in November. However, investors often prefer the narrower indicator of non defense capital goods orders that do not include aircraft, which has less volatility and will be used for GDP calculations.
On Thursday, the United States will also release the number of initial jobless claims for the week ending December 21st.
Bank of Japan Governor Kazuo Ueda may take yen intervention measures in his speech on Wednesday
At the end of the year, macroeconomic data in overseas markets was relatively weak this week. Of note was the speech scheduled for Wednesday by Bank of Japan Governor Kazuo Ueda. The Bank of Japan previously kept interest rates unchanged and has remained inactive for three consecutive times; The Bank of Japan has stated that it may wait until at least March next year before raising interest rates. Investors can pay attention to any verbal or actual foreign exchange market intervention measures that the Bank of Japan may take. Japanese Finance Minister Katsuyuki Kato stated on the 20th that measures will be taken to address excessive fluctuations in the yen exchange rate.
In terms of economic data, Japan will release preliminary data on unemployment rate, retail sales, and industrial output for November on Friday. Prior to this, investors can pay attention to the minutes of the Bank of Japan's October meeting, which will be released on Tuesday, to find further clues about policymakers' ideas on interest rate hikes. In addition, the Bank of Japan will also release the opinions of the December monetary policy meeting review committee on Friday.
The 13th Meeting of the Standing Committee of the 14th National People's Congress was held in Beijing from 21st to 25th to review several draft laws such as the Law on the Promotion of Private Economy
According to the news from the website of the National People's Congress on December 19, the Legislative Affairs Committee of the Standing Committee of the National People's Congress held a press conference with speakers on December 19. The spokesman said that the 13th Meeting of the Standing Committee of the 14th National People's Congress was held in Beijing from December 21 to 25.
The meeting will review the draft amendments to the Representative Law, the Value Added Tax Law, the Supervision Law, the Science and Technology Popularization Law, and the National Park Law; Deliberate the proposal of the State Council to submit for review the draft of the Private Economy Promotion Law, the revised draft of the Anti Unfair Competition Law, the revised draft of the Fisheries Law, and the draft of the Hazardous Chemicals Safety Law; Deliberate the proposal of the Council of Chairmen on submitting the draft decision of the Standing Committee of the National People's Congress on convening the third session of the 14th National People's Congress.
The draft law on the promotion of private economy was submitted to the Standing Committee of the 14th National People's Congress for initial consideration on the 21st. The draft consists of 9 chapters and 78 articles, mainly including eight aspects: overall requirements, fair competition, investment and financing environment, technological innovation, regulatory guidance, service guarantee, rights protection, and legal responsibility. Elevating important measures to promote the development of the private economy into legal norms is of great significance for further optimizing the development environment of the private economy, accelerating the construction of a new development pattern, and promoting high-quality development.
Monday, December 23rd
Keywords: December Conference Board Consumer Confidence Index in the United States; Yuejiang's new shares went public today
On Monday, in terms of economic data, the final annual GDP value for the third quarter of the UK and the December Consumer Confidence Index from the US Conference Board will be released.
In terms of new stocks, in the Hong Kong stock market, $Yuejiang (02432. HK) $was listed today, while $Innolux (02577. HK) $was listed in the Hong Kong stock market$ The Road to Health (02587. HK) $$ Xunfei Medical Technology (02506. HK)'s new stock subscription has ended.
Tuesday, December 24th
Keywords: Hong Kong stocks, US stocks, etc. closed in the afternoon; Minutes of the October Monetary Policy Meeting of the Bank of Japan
On Tuesday, in terms of economic data, the monthly rate of durable goods orders in November, the Richmond Fed Manufacturing Index in December, and the annualized total new home sales in November will be released.
In terms of financial events, the Bank of Japan released the minutes of its October monetary policy meeting.
In terms of new stocks, Hong Kong stock company Youjia Innovation (02431. HK) announced its winning results.
In addition, before Christmas, Hong Kong stocks, US stocks, Singapore stocks, and Australian stocks were closed in the afternoon.
Wednesday, December 25th
Keywords: Hong Kong stocks, US stocks, etc. closed all day due to Christmas; Bank of Japan Governor Kazuo Ueda delivers a speech
On Wednesday, in terms of economic data, the US API crude oil inventory for the week ending December 20th will be released.
In terms of financial events, Bank of Japan Governor Kazuo Ueda will deliver a speech.
In addition, the US stock market, Hong Kong stock market, Singapore stock market, Canadian stock market, Australian stock market, and Malaysian stock market were closed for Christmas, and trading on the Hong Kong Stock Connect and Shanghai Shenzhen Stock Connect was suspended.
Thursday, December 26th
Keywords: Weekly initial jobless claims in the United States; Hong Kong stock market closed
On Thursday, in terms of economic data, the initial jobless claims for the week ending December 21st in the United States will be released.
In addition, Canadian and Australian stocks will be closed for holiday trading; Hong Kong stocks will continue to be closed for Christmas, and trading on the Hong Kong Stock Connect and the Shanghai and Shenzhen Stock Connect will be suspended.
Friday, December 27th
Keywords: Opinions of the Review Committee of the Bank of Japan's December Monetary Policy Meeting; Youjia Innovation is launched today
On Friday, in terms of economic data, Japan's November unemployment rate will be released, and data such as EIA crude oil inventories for the week ending December 20th, EIA strategic petroleum reserve inventories for the week ending December 20th, and EIA natural gas inventories for the week ending December 20th will also be released one after another.
In terms of financial events, the Bank of Japan will release the opinions of the members of the December monetary policy meeting review committee.
In terms of new stocks, in the Hong Kong stock market, $Youjia Innovation (02431. HK) $went public today, $InnoTech (02577. HK) $$ The Road to Health (02587. HK) $$ IFlytek Medical Technology (02506. HK) will announce the winning results.