Stock market half day and US inflation, Friday and post-Christmas … – Proactive Investors UK

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05:30 Fri 23 Dec 2022
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The London stock exchange will close for Christmas at 12:30 tomorrow and re-open on Wednesday next week.
US data will be in focus for the hard-hearted or hard workers that haven’t broken up for the holidays yet.
Having seen the Federal Reserve raise rates by another half a percent in the past week, marking a slowdown in the pace of rate rises from the previous 0.75 percentage points, Friday’s core PCE numbers could set a benchmark as to the size of future rate hikes as we head into 2023, says CMC Markets’ Michael Hewson.
Core PCE is the Fed’s preferred inflation measure and thus often receives as much attention as the main CPI figures.
Recent PPI and CPI prints have shown that inflation is still coming down, “albeit not as fast as perhaps the prevailing narrative of the peak inflation camp would like”, he adds.
October’s PCE core deflator fall to 5%, while PCE deflator fell from 6.3% to 6%.
“In light of last week’s Fed decision this week’s PCE numbers could well start to shape a narrative of whether we get another 50bps when the Fed next meets at the start of next year, or whether we get another step down to 25bps,” says Hewson.
AGMs: Parkmead Group PLC, Plexus Holdings PLC (AIM:POS), Wildcat Petroleum (LSE:WCAT) PLC
Economic announcements: Durable Goods Orders (US), Personal Consumption Expenditures (US), Personal Income (US), Personal Spending (US), Consumer Sentiment (US), New Homes Sales (US)
The festive break means a quiet week is due, with no major companies providing updates next week.
Notably, UK house prices and US oil inventories data is set to be released next Thursday.
The US will also provide updates on it’s housing prices on Tuesday. 
Tuesday 27
Economic announcements: House Price Index (US)
Wednesday 28
Economic announcements: BRC Shop Price Index (UK), Producer Price Inflation (UK), MBA Mortgage Applications (US), Pending Homes Sales (US), Crude Oil Inventories (US)
Thursday 29
Economic announcements: Oil Inventories (US), Continuing Claims (US), Initial Jobless Claims (US)
AGMs: ADVFN PLC (AIM:AFN), AMTE Power PLC (AIM:AMTE), Genedrive PLC, Hotel Chocolat Group PLC (AIM:HOTC), Online Blockchain PLC (AIM:OBC), Orchard Funding Group PLC, Petroneft Resources, SkinBioTherapeutics PLC (AIM:SBTX)
Friday 30
Economic announcements: Nationwide House Price Index, Chicago PMI (US)
AGMs: Goldplat PLC (AIM:GDP), Ncondezi Energy Ltd (AIM:NCCL, OTC:NCDZF), Secure Property Development & Investment PLC, Tetragon Financial Group Ltd, Time Out Group PLC (AIM:TMO)
 
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