Investors Looking To Global PMIs As New Year Begins

As the new year kicks off, investors are keenly observing global Purchasing Managers’ Index (PMI) figures to gain insights into economic conditions and market trends. The upcoming week is characterized by a lack of substantial economic data due to the extended holiday season. However, the highlight will be the release of PMI data from the Institute of Supply Management and S&P Global, set to be published on Thursday and Friday for the month of December.

On Monday, pending home sales data for November will also be released, providing additional context for the housing market’s performance as 2023 comes to a close. This data is significant as it reflects the health of the real estate sector, which is a key component of the overall economy.

Market Volatility and Stock Observations

Investors are keeping a close eye on several stocks exhibiting high volatility levels. KULR Technology Group (NYSE:KULR) is noted for its significant implied volatility, attracting attention from those looking to capitalize on potential price movements. Other companies like CervoMed (NASDAQ:CRVO) and Beyond Meat (NASDAQ:BYND) are also notable for having increased short interest, indicating that investors are betting against these stocks.

Furthermore, stocks that are currently overbought according to the 14-day Relative Strength Index include American Battery Technology (NASDAQ:ABAT), Hour Loop (NASDAQ:HOUR), and LightPath Tech (NASDAQ:LPTH). On the flip side, stocks considered oversold comprise Innovative Industrial (NYSE:IIPR), Inovio (INO), and GXO Logistics (NYSE:GXO), indicating potential opportunities for those interested in bargain buying.

Upcoming Corporate Actions

Next week will also see companies with ex-dividend dates approaching, including notable names like Cisco (NASDAQ:CSCO), Deere (NYSE:DE), Mondelez (NASDAQ:MDLZ), American Express (AXP), and Stryker (NYSE:SYK). Observers should pay attention to those expected to increase their quarterly dividends, such as Alamo Group (NYSE:ALG), with an increase from $0.26 to $0.28, and Bank OZK (NASDAQ:OZK), moving from $0.41 to $0.42.

Looking Ahead

In summary, while the holiday season limits the amount of economic data to analyze, the global PMIs released later in the week will be a focal point for investors. Keeping an eye on stock market trends, pending home sales, and corporate actions will provide a clearer picture of where financial markets may be headed as the new year unfolds.

Investors, PMI, Market