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Data Deluge to Test Markets as Jobs, CPI and Micron Lead the Week

Markets seek clarity on labor softness, tariff effects on prices, Fed guidance.

Overview

  • Tuesday compresses the November jobs report, October retail sales, and PMI readings into a tight window that could drive sharp swings in rates and equities.
  • Thursday’s November CPI will be parsed for evidence of tariff-driven price pressure as investors reassess the inflation path following last week’s Fed rate cut.
  • Micron reports Wednesday after a year of outsized gains tied to AI demand, offering a key read on memory pricing and investment appetite following selloffs in Oracle and Broadcom.
  • Nike and FedEx report Thursday, with FedEx’s reinstated outlook for 4% to 6% revenue growth watched for signals on shipping volumes and broader commercial activity.
  • Fed Governors Stephen Miran on Monday and Christopher Waller on Wednesday speak as markets look for hints on policy after the Fed linked its cut to growing labor-market weakness.