ACTIVITY should begin to recede somewhat this week as Wall Street starts to vacate desks for holidays.
Retailers are among the most prominent in terms of earnings, with Macy’s and Nordstrom’s reporting, among others.
The lack of action could mean the recent softness might continue in the equity market, and that the long end of the Treasury curve could continue to see more gains as corporate issuance declines and liquidity is reduced.
News Corp, the owner of the Wall Street Journal, is expected to miss analysts’ average estimate in the fourth quarter on Wednesday. Falling advertising is likely to hit its figures.
Chip-equipment maker Applied Materials is expected on Thursday to report third-quarter profit below analysts’ average estimate. Analysts expect the company’s foundry business to be hurt due to lower spending by chipmakers.