This week is shaping up to be an eventful one, after a week where the only thing to talk about was inflation. We can look forward to several key economic data points over the next five trading days, with company earnings and the monthly options expiry being on the way.
And my readers here at Fortune Research can look forward to my top November 2021 retail stocks as we get both data and earnings from key players in that space.
Starting on the economic side, however, we got off to a solid start. The Empire State Manufacturing Index — a monthly survey of New York manufacturers — saw a nice bounce from a dismal 19.8 to a decent 30.9 mark. A year ago in November 2020, that score was 6.3!
That number represents general business conditions in the state of New York — one of if not the most influential area on the stock market. Investors and professionals watch this area closely as it provides insights on the direction of manufacturing in the economy and, to an extent, the U.S. economy and dollar.
Charles Schwab Chief Economist Liz Ann Sonders — a must-follow on Twitter — said new orders, shipments and the workweek are all stronger. She also noted that the employment component surged to a record high. Delivery times even eased up slightly, which indicates we could be in the throes of peak inflation.
We could see a confirmation on that data point Tuesday, when both retail sales data and the Import Price Index are released.
Economic Data and the Top November 2021 Retail Stocks
If retail sales are strong and the Import Price Index is anywhere from flat to rising, that will indicate accelerated growth through at least early December.
To round out the week, we get a read on industrial production and inventories followed by housing, jobs and consumer comfort data.
Source: Bloomberg
What many may not realize is how important this is to earnings… Retail sales data is key, and there are several large companies set to report this week.
Source: Earnings Whispers
Among November 2021’s retail stocks, Walmart Inc. (NYSE: WMT), Target Corp. (NYSE: TGT) and Macy’s Inc. (NYSE: M) report before the open on Tuesday, Wednesday and Thursday, respectively.
Bath & Body Works Inc. (NYSE: BBWI) and Victoria’s Secret & Co. (NYSE: VCSO) post after Wednesday’s close. Finally, both Ross Stores Inc. (Nasdaq: ROST) and Williams-Sonoma Inc. (NYSE: WSM) report after the bell on Thursday.
But the three most interesting top retail stocks for November 2021 on that list aren’t the big names. Those are huge companies and I don’t expect huge moves from them…
In fact, I’m watching smaller-cap names with high short interest, and they just might end up on this week’s watchlist.
Keep an eye on your inboxes to find out more.
All the best,
Matt Warder
Fortune Research
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