Turkey day is just behind us, but I will be thinking about the following during the ongoing holiday weekend.
We have Fed Chairwoman Janet Yellen making two speeches next week. I am wondering whether she will hedge a bit on her and the Federal Reserve's year-and-a-half-long rate hike jihad; I am not holding my breath for any sort of hedge or wiggle room creation.
Next week also will bring the big European Central Bank meeting on Thursday. ECB President Mario Draghi has assured (some will say maybe even guaranteed?) global investors that the central bank more than likely will increase its quantitative easing with a step-up in the bond purchase program given that rates are already low.
Given the above and the ongoing crusade by the U.S. Fed to raise rates, is dollar-euro parity a total given? It has to be, no?
Next Friday we will have an OPEC meeting, where it will be interesting to see if they stay the course on production. I say they will stay the course as they continue to try and make it next to impossible for non-OPEC producers to stay in the game given the shellacking in the price of black gold.
Of course, we can't forget yet another jobs report that will be out next Friday. This one is for the month of November and will be the last one before the wise ones at our Federal Reserve come out with their decision on interest rates mid-December.
Given the 5% plunge in the Chinese equity markets, what will our good quasi-Communist buddies do next week? One of the reasons for the slide today was that Chinese authorities cracked down on the management teams of leading Chinese brokerage companies for violating the country's securities rules. The Chinese authorities want to drive speculation out of their markets, but I say without speculation there are no markets. Are there?
Finally, with my Dallas Cowboys' playoff hopes all but hammered away (along with Tony Romo's left collarbone yet again), I think I will root for the Carolina Panthers the rest of the way. Before you call me a bandwagon hopper, there is a connection, which makes sense to me at least. My ex in-laws live in the beautiful state of North Carolina, so I do have a connection to that state and thus the team, after all.
With that I wish you a safe and happy holiday weekend.