Markets enter a shortened Thanksgiving week following significant losses that saw major indexes break below key technical support levels despite strong Nvidia (NVDA) earnings. Growth stocks suffered substantial damage for the week, with Bitcoin also declining sharply, though Friday brought a bounce on renewed Fed rate cut hopes and news of Nvidia chip sales to China before gains faded into the close. The technical deterioration suggests investors should maintain defensive positioning until the market demonstrates genuine strength and the ability to reclaim broken support levels. This week's abbreviated trading schedule compresses a full slate of critical economic data into just two sessions, with Tuesday delivering retail sales, PPI, and consumer confidence reports, followed by Wednesday's explosive convergence of Q3 GDP revision, Core PCE inflation data, durable goods orders, and initial jobless claims all before the Thursday Thanksgiving holiday. The earnings calendar features Chinese e-commerce giant Alibaba (BABA), enterprise technology leaders Dell (DELL) and Workday (WDAY), cybersecurity provider Zscaler (ZS), and agricultural equipment maker Deere (DE) that together will provide perspectives across global consumer spending, enterprise IT investment, and industrial equipment demand.
Here are 5 things to watch this week in the Market.
