US equity investors will focus on Federal Reserve Chair Jerome Powell's speech this week and the central bank's preferred inflation data while keeping an eye on the read for Black Friday and Cyber Monday sales.
* On Tuesday, investors will parse Powell's comments in relation to monetary policy and economic growth. Currently, the probability of a 25-basis-point December rate cut is almost 88%, up from 63% a month ago, according to the CME FedWatch Tool.
* President Donald Trump said Sunday has decided who will lead the Federal Reserve after incumbent Powell steps down in May, according to media reports. "I know who I am going to pick, yeah," Trump told reporters on Air Force One. "We'll be announcing it."
* White House National Economic Council Director Kevin Hassett, Trump's chief economic adviser, will likely succeed Powell, Bloomberg reported late last week, citing sources. The president has in the past called for lower interest rates in the US to help manage the country's burgeoning debt.
* September's personal consumption expenditures, or PCE, report, which the Fed watches for inflation and was delayed because of the federal government shutdown, is keenly awaited this week. Michigan consumer sentiment and inflation expectations, ISM manufacturing and services PMIs, international trade, and industrial production are also on the tap.
* Investors will also look out for data from Black Friday and Cyber Monday sales to assess the health of the consumer.
* Quarterly earnings due this week include CrowdStrike Holdings (CRWD), Marvell Technology (MRVL), Salesforce (CRM), Snowflake (SNOW), Dollar Tree (DLTR), Kroger (KR), Hewlett Packard Enterprise (HPE), and Ulta Beauty (ULTA).
