The new trading week kicks off with Paychex
As a payroll-outsourcing juggernaut, Paychex should provide a decent glimpse on the state of hiring in Corporate America. Analysts aren't expecting a lot of direction. They see Paychex earning $0.34 a share, a penny less than it did a year earlier on flattish top-line growth.
Darden runs the Olive Garden and Red Lobster casual-dining chains, so its report should be a reasonable gauge on eating-out trends. Are the unlimited soup and breadsticks at Olive Garden or those succulent cheese biscuits at Red Lobster enough to turn the tables? We'll find out on Monday.
This is the final trading day of the week, and you won't find stateside companies keeping analysts in the office on conference calls when everyone wants to be home for Christmas. There will be a few overseas companies reporting, but none of the dynamic ones that trade actively over here.
The market is closed in observance of Christmas. Now would be a good time to tend to any last-minute gift-wrapping.
Until next week, I remain,
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