The stock market in New York is expected to experience a decline as lawmakers rush to pass a funding bill before the deadline. Stay updated with the latest news and trends in the stock market.
Troy D. Hanson
November 12, 2023
The stock market in New York is expected to experience a decline on Monday as lawmakers on Capitol Hill rush to pass a stopgap government funding bill before Friday's deadline.
Dow Jones Industrial Average futures were down 46 points, or 0.1%, at 6:15 p.m. ET on Sunday.
The S&P 500 futures and Nasdaq Composite futures also fell by 0.1%.
Temporary Funding Extension
To keep the government open until the first deadline in January and allow for negotiations on longer-term spending agreements, House GOP leadership unveiled a two-part temporary funding extension on Saturday. Failure to pass this patch could result in a government shutdown on November 17.
Several companies will be reporting earnings this week:
Monday: Tower Semiconductor and Tyson Foods.
Tuesday: Home Depot.
Wednesday: Advance Auto Parts, Cisco Systems, Palo Alto Networks, Target, and TJX Cos.
Thursday: Alibaba Group Holding, Applied Materials, Bath and Body Works, Gap, Macy's, Ross Stores, Walmart, Warner Music Group, and Williams-Sonoma.
Friday: BJ's Wholesale Club.
Key economic events to watch this week:
Tuesday: The Bureau of Labor Statistics will release the Consumer Price Index for October.
Wednesday: President Joe Biden will meet with China's President Xi Jinping during the Asia-Pacific Economic Cooperation summit in San Francisco. Additionally, the Census Bureau will release retail sales for October, and the BLS will report the Producer Price Index.
Thursday: The National Association of Home Builders will release its Housing Market Index for November, and the Labor Department will release initial unemployment benefits claims for the week ended November 11.
Friday: The Census Bureau will report new residential statistics for October.
Stay updated with the latest news and trends in the stock market.