For any new information on the direction that interest rates will take in the future, investors will be examining the minutes of the Federal Reserve's most recent meeting

Fed Minutes

The Fed will release the minutes of its meeting from October 31 to November 1 on Tuesday—a day earlier than usual because of the Thanksgiving holiday this week.

Investors will be scanning the minutes for hints about the policymakers' stance as recent signs of slowing inflation have stoked expectations that the U.S. central bank is finished raising rates.

Regarding economic data, the government's weekly figures on initial jobless claims and October data on durable goods orders are scheduled to be released on Tuesday, after which figures on existing home sales are due.

Stock Market Optimism

Over the past few weeks, investor confidence in stocks has increased as markets have recovered from a months-long decline that lasted from August through most of October. Treasury yields have sharply declined amid expectations that the Fed is done raising interest rates after their steady rise over the previous few months had put pressure on stocks.

The Dow, the Nasdaq, and the S&P 500 all saw gains last week, marking their third consecutive week of gains. It was the longest weekly winning streak for the Dow and S&P since July. It was the longest weekly rise for the Nasdaq since June.

Investors will be focusing on Nvidia, a chip manufacturer, this week as it releases its most recent earnings report on Tuesday. The big seven companies, whose enormous share gains this year have driven equity indexes higher, are reporting their final earnings results of the earnings season.  

Eurozone Data

On Thursday, the Eurozone will release its November purchasing manager index data. Economists do not anticipate a significant increase in activity. Additionally, the bloc is scheduled to release consumer confidence data on Wednesday and the highly anticipated German Ifo business climate index on Friday.

The minutes of the European Central Bank's October policy meeting will be released the day after the bank releases its most recent financial stability review.

In addition to speaking at an event in Frankfurt on Friday, ECB President Christine Lagarde is scheduled to appear in Berlin on Tuesday and several other ECB officials are scheduled to speak throughout the week.

Oil

After hitting a four-month low in the previous session, oil prices rose more than 4% on Friday as investors who had taken short positions cashed in and as support was provided by U.S. sanctions on certain Russian oil shippers.

Nevertheless, a rise in U.S. crude inventories and continued record-high production were the main causes of this week's more than 1% decline in both the Brent and crude oil benchmarks, which marked their fourth consecutive weekly decline.

Slowing industrial growth and China's worsening property crisis also contributed.

(Sources: investing.com, reuters.com)