The Week Ahead on Wall Street: Spain’s Political Impact, China Manufacturing and Turkey Day

With the upcoming abbreviated trading week, investors will have plenty of news to feast on before the Thanksgiving holiday and the quiet Friday recovery day.

Europe will have news from its ongoing euro-zone debt crisis with investors watching 10-year yields on French, Italian and Spanish government bonds, which affected volatility last week. Monday should have investors reacting to Spain’s Sunday elections.

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The center-right opposition party led by Mariano Rajoy is expected to be the victor but there will be little time to enjoy it as he’ll need to hit the ground running; the country is headed toward a bailout. Rajoy is expected to seek advice from his Euro counterparts Angela Merkle and Nicolas Sarkozy.

Over in Asia, investors will hear Japan’s October trade figures on Monday. The country reported a trade surplus in September, and the markets will hope to see a second one from the data. Thailand will also report its third-quarter gross domestic product, which is expected to include the effects from the floods, and the number may see a forecasted contraction of six percent or more.

Coming from China on Wednesday, is HSBC Holidngs (NYSE:HBC) initial results of its monthly manufacturing Purchasing Managers Index.

Alibaba.com Ltd, one of Yahoo! Inc.’s (NASDAQ:YHOO) many suitors, will report earnings on Thursday.

Back in the U.S. 

Economic Numbers

Monday: October existing home sales

Tuesday: Third-quarter gross domestic product revision and Federal Open Market Committee’s November meeting minutes

Wednesday: Durable goods orders for October, deadline for Congress’ supercommittee to determine $1.2 trillion in spending cuts, Michigan consumer sentiment index for November, weekly jobless claims, October durable goods numbers, personal income and consumer spending

Fed Speak

Monday: Atlanta Fed President Dennis Lockhart speech

Tuesday: Minneapolis Fed President Narayana Kocherlakota speech

Earnings

Monday:  Hewlett-Packard (NYSE:HPQ) , Tyson Foods Inc. (NYSE:TSN) and Analog Devices, Inc. (NYSE:ADI)

Tuesday: Campbell Soup Co. (NYSE:CPB), Hormel Foods Corporation (NYSE:HRL), Patterson Companies (NASDAQ:PDCO) and Medtronic, Inc. (NYSE:MDT)

Wednesday: Deere & Co. (NYSE:DE)

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