The data drought of the government shutdown is giving way to a deluge.
Several long-awaited economic reports are on the schedule this week. Market watchers will get delayed reports on employment levels, retail sales, and inflation, along with regularly scheduled data on existing-home sales and consumer sentiment. Fed Chair Jerome Powell said central bankers need more data as they evaluate the path of interest rates; Remarks by Fed governors Stephen Miran and Christopher Waller could sway markets as investors await signals on the central bank’s next move on interest rates.
Investors will get another look at the artificial intelligence trade this week with the an earnings report due from chipmaker Micron Technology. Reports from Nike, FedEx, CarMax, General Mills and Carnival will offer insight into the U.S. consumer.
Read to the bottom for our calendar of key events—and one more thing.
Data Highlights Jobs, Inflation, Retail Sales Reports
The Fed tied its interest-rate cut last week to worries over growing weakness in the labor market. That picture will become somewhat clearer when the Bureau of Labor Statistics releases November employment data on Tuesday. Also due that day are retail sales data from October and business inventories levels from September, which can provide a closer look at consumer demand.
On Thursday, the release of the November Consumer Price Index (CPI) will provide insight into tariffs’ impact on inflation as the Fed watches price pressures closely going into 2026.
Meanwhile, two Federal Reserve officials tied to President Donald Trump will speak this week: Fed Governor Stephen Miran, who speaks as markets open on Monday, has served as an economic adviser to Trump and voted for a larger interest rate cut at last week’s meeting. Fed Governor Christopher Waller, among the potential candidates to lead the central bank, will deliver remarks to a meeting of CEOs on Wednesday.
Earnings Continue, WIth Micron, Nike and FedEx Due
While most major tech firms have reported their earnings for the third quarter, investors this week will hear from one of the hottest plays in the artificial intelligence trade. Micron Technology’s report on Wednesday arrives after a year in which the memory chip maker’s stock has surged by more than 200%.
Several earnings reports this week will highlight consumer health, including the Thursday report from Dow Jones component Nike, which is seeing success from its turnaround efforts. The sneaker maker warned that tariffs could still impact its bottom line, even as sales showed surprising growth in its most recent quarterly report.
Other scheduled reports this week are also likely to add to the portrait of consumers, including online car seller CarMax, cereal maker General Mills, food brand Conagra, restaurant chain Darden Restaurants, footwear producer Birkenstock, and cruise line operator Carnival.
Investors will also be following the Thursday report from FedEx after the shipping giant reinstated its full-year outlook, where it laid out a forecast of 4% to 6% annual revenue growth, despite facing tariff impacts. The company’s report can serve as an indicator of overall commercial activity in the economy.
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This Week’s Calendar
Monday, Dec. 15
- Homebuilder confidence index (December)
- More Data to Watch: Empire State manufacturing survey (December)
- Federal Reserve Officials Speaking: Fed Governor Stephen Miran, New York Fed President John Williams
- Key Earnings: Navan (NAVN)
Tuesday, Dec. 16
- U.S. employment report (November)
- More Data to Watch: U.S. retail sales (October), Business inventories (September), S&P flash U.S. Purchasing Managers Index (PMI) (December)
- Key Earnings: Lennar (LEN)
Wednesday, Dec. 17
- Federal Reserve Officials Speaking: Fed Governor Christopher Waller, New York President John Williams, Atlanta Federal President Raphael Bostic
- Key Earnings: Micron Technology (MU), Jabil (JBL), General Mills (GIS)
Thursday, Dec. 18
- Consumer Price Index (November)
- More Data to Watch: Initial jobless claims (Week ending Dec. 13), Philadelphia Fed manufacturing survey (December)
- Key Earnings: Accenture (ACN), Nike (NKE), Cintas (CTAS), FedEx (FDX), Darden Restaurants (DRI), Birkenstock (BIRK), CarMax (KMX), KB Home (KBH), BlackBerry (BB)
Friday, Dec. 19
- Existing-home sales (November)
- More Data to Watch: Consumer sentiment – final (December)
- Key Earnings: Paychex (PAYX), Carnival (CCL), Conagra (CAG), Lamb Weston (LW), Winnebago (WGO)
One More Thing
Investors across the board are looking for ways to get into the AI trade, but legendary tech founder Bill Gates has a warning about companies working with the new technology. Investopedia’s Colin Laidley has more here on Gates’s assessment of AI stocks.