Week ahead: China industrial profits; Japan jobless rate and retail sales; US trade balance
In a shortened week, economic data will be the main driver of sentiment as investors countdown to the end of the year.
China releases its latest print on industrial profits. Japan’s jobless figures and retail sales will be in focus a week after the Bank of Japan suggested it was moving closer to normalisation, but was not there yet. The US releases trade data.
(AI Video Summary)
Upcoming news from Japan, China and the US
This video talks about what economic news is coming up next week, starting from Monday 25 December. Some of the important events mentioned include Japan's jobless rate, the S&P Case-Shiller home price index from the US, China's industrial profits, and API crude oil inventories. Towards the end of the week, there will be retail sales figures and industrial production numbers from Japan, followed by goods trade balance and initial jobless claims from the US, along with EIA crude oil inventories. Finally, the week will wrap up with the Baker Hughes oil recount and the Chicago PMIs.
Market analysis with Tom Sosnoff
The video then features an interview with Tom Sosnoff, founder and CEO of tastylive, who shares his thoughts on the US stock market. He believes that the recent rally in the market has been exaggerated and driven by retail selling. While there is still interest in the market, he advises caution and suggests that buying stocks at this point could be risky with little potential for reward. Sosnoff also talks about the growing trend of "buy now, pay later," which has been successful for some stocks like Affirm. However, he is skeptical about the long-term sustainability of this trend and compares it to the risky lending practices that caused the 2008 financial crisis.
The host then asks Sosnoff if this trend will continue, especially during the holiday shopping season. Sosnoff raises concerns about the collapse of the challenger bank space and the potential risks for consumers in the long run. He doubts the sustainability of the "buy now, pay later" trend and questions its impact on both retailers and consumers. The video concludes by mentioning Affirm’s partnership with Walmart to offer "buy now, pay later" loans at their stores.
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