Wall Street heads into what’s expected to be a slow week — featuring the last three days of 2025 and the first trading day of 2026. The market will be closed Thursday for New Year’s Day. While there are no major earnings scheduled this week, there are three macroeconomic updates that we will be watching. 1. Housing : November pending home sales data is out on Monday morning. The sluggish real estate market has been a key concern in 2025 and will remain so in 2026. The stubbornly high cost of shelter, which makes up about a third of inflation index readings, will continue to be a thorn in the sides of consumers. While some of the affordability issue is tied to elevated mortgage rates, it’s not quite as simple as just bringing down interest rates. For starters, low rates tend to support higher list prices. We have to be conscious that coming up with a down payment, based on a percentage of the list price, is also becoming increasingly difficult. High shelter costs disincentivize further Federal Reserve rate cuts because inflation has still been running above the central bank’s target of 2%. What we really want to see is new construction that adds to the total number of homes in America. 2. Fed minutes : The Federal Open Market Committee — the central bank’s policymaking panel — releases minutes from its December meeting on Wednesday afternoon. While we already know the Fed cut rates earlier this month for the third time this year, the minutes provide greater clarity on what happens next. According to the CME FedWatch tool, the market puts just over 50% odds on the first rate cut in 2026 coming at the March meeting. Fed chief Jerome Powell ‘s term leading the central bank ends in May. President Donald Trump , who has made no secret of wanting even lower rates, can’t wait to get his pick installed. 3. Job marke t: The government’s weekly look at first-time filings for jobless claims comes a day early — on Wednesday morning instead of Thursday due to the New Year’s Day holiday. Any signs of resiliency will be welcome, as it is jobs that drive the consumption-oriented U.S. economy. High inflation with a weakening labor market has put the Fed in a tough spot as it works to balance its dual mandate of fostering steady prices and low unemployment. While a weakening labor market dictates lower rates, the sustained above-target inflation dictates higher rates, or at least not lower ones. So, any resiliency that gives the Fed cover to keep rates steady at the start of 2026. Week ahead Monday, Dec. 29 10 a.m. ET: Pending Home Sales (November) Tuesday, Dec. 30 9 a.m. ET: S & P/Case-Shiller home prices report (October) Wednesday, Dec. 31 8:30 a.m. ET: Initial Jobless Claims 2 p.m. ET: FOMC Minutes Thursday, Jan. 1 U.S. stock trading closed for New Year’s Day Friday, Jan. 2 10 a.m. ET: U.S. services Purchasing managers index (December) (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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