Hello. With Thanksgiving weekend winding down, here’s what you need to know to get ready for the week ahead.
The big truce: Israel and Hamas prepared for a third day of hostage releases from Gaza, after a last-minute dispute on Saturday threatened to derail a fragile truce. Talks continued behind the scenes to extend the four-day cease-fire. The existing truce lasts through Monday, with a total of about 50 hostages and 150 prisoners set to be exchanged.
The big stat: Inflation gauges in the US are set to show the smallest annual increases since early or mid-2021, reinforcing sentiment that interest rates won’t be raised again. The Federal Reserve’s preferred measures will be published on Thursday, with the personal consumption expenditures price index seen rising 3.1% in October from a year earlier. The Fed on Wednesday will also issue its Beige Book of economic conditions and anecdotes from across the country.
The big earnings: As overall corporate IT expenditure tightens, Salesforce and Dell are among companies that may show slower sales growth when they report this week. But there’s a bright spot in the sector: Zscaler and Crowdstrike will underscore how businesses are prioritizing cybersecurity after recent high-profile corporate hacks.
The big meeting: OPEC+ is set to hold a policy-setting gathering Thursday as members get closer to resolving a dispute over output quotas. A deadlock over demands made by African members on an earlier deal compelled Saudi Arabia and its partners to postpone the meeting, originally scheduled for this weekend.
The big sale: Cyber Monday is set to bring another wave of deals for consumers after the record online spending spree during Black Friday. Still, initial forecasts for November and December point to dismal sales growth, adding to pressure on retailers.
And finally, COP28 will begin in Dubai on Thursday. During the summit, citizens of the world’s most-developed nations will be told to curb their excessive appetite for meat as part of the first comprehensive plan to bring the global agrifood industry in line with the Paris climate agreement. From farm to fork, food systems account for about a third of global greenhouse gas emissions and much of that footprint is linked to livestock farming. For Americans who love their Thanksgiving turkeys and Christmas hams, that’s going to be a hard message to stomach.
For the latest on COP28, tune in to Bloomberg’s Zero podcast, which will release two episodes per week during the summit. Subscribe on Apple, Spotify or Google.
