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Thanksgiving Week and the stock market
Inflation gobbling up budgets ahead of Thanksgiving
Kingsview Wealth Management Chief Investment Officer Scott Martin joined ‘Kennedy’ to weigh in on reports the average Thanksgiving turkey costs $34 and inflation’s impact on food prices.
Markets will trade normally on Wednesday, before the Thanksgiving trading schedule kicks in.
Before markets pause for the holiday, traders will get to study quarterly earnings before the bell from the maker of John Deere tractors, Deere & Co.
Because of the Thursday holiday, a slew of economic reports will be released on Wednesday including mortgage applications, building permits, durable goods, initial jobless claims, University of Michigan consumer sentiment index, new home sales, and the Energy Information Administration's weekly crude stocks.
The Federal Reserve will also release the minutes from its October meeting in the afternoon, which will hold more clues on the pace and size of future rate hikes.
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