Investors are bracing for another busy week for corporate earnings and will be watching a slew of economic data, including the latest on consumer prices. The Federal Reserve raised interest rates by half a percentage point for the first time in two decades in a bid to begin to rein in record inflation to drive down prices.
|Me: DJI||DOW JONES AVERAGES||32899.37||-98.60||-0.30%|
|I: COMP||NASDAQ COMPOSITE INDEX||12144.661895||-173.03||-1.40%|
On Friday, the S&P 500 and Nasdaq Composite fell 0.6% and 1.4% respectively while the Dow Jones Industrial Average rebounded between losses and gains coming back from a deficit of more than 400 points to end with a loss 98 points or a decrease of 0.3%. All three major averages posted weekly losses.
FOX Business takes a look at the next events likely to move Financial markets in the coming days.
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Earnings starting the week before market open will include BioNTech, Lordstown Motors, Palantir Technologies, Party City and Tyson Foods before market open.
|PLTR||PALANTIR TECHNOLOGIES INC.||9.48||-0.64||-6.32%|
|PRTY||PARTY CITY HOLDCO INC.||3.06||-0.15||-4.67%|
|TSN||TYSON FOODS INC.||90.82||-0.08||-0.09%|
Meanwhile, AMC Entertainment, GoodRx, Simon Property Group, SmileDirectClub and thredUp will be among the companies in the spotlight after the bell.
|CMA||AMC ENTERTAINMENT HOLDINGS INC||13.76||-0.93||-6.33%|
|GDRX||GOODRX HOLDINGS INC.||12.74||-0.37||-2.82%|
|GPS||SIMON REAL ESTATE GROUP INC.||121.42||-1.04||-0.85%|
On the economic data front, investors will be watching wholesale inventories and trends in sales and employment.
|META PLATFORMS INC.||203.77||-4.51||-2.17%|
Other notable events include the opening of the first-ever Meta Store and a Congressional Republican National Committee fundraising dinner headlined by former President Donald Trump.
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The parade of results continues on Tuesday with Fox Business parent company Fox Corporation, Hyatt Hotels, Peloton Interactive, Planet Fitness, Sysco and Warner Music Group ahead of the market open.
|H||HYATT HOTELS CORP.||85.50||-1.08||-1.25%|
|PTON||INTERACTIVE PELOTON INC.||3:70 p.m.||-1.31||-7.70%|
|PLNT||PLANET FITNESS INC.||74.86||-1.02||-1.35%|
|WMG||WARNER MUSIC GROUP CORP.||29.14||+0.01||+0.03%|
Meanwhile, Electronic Arts, Occidental Petroleum, Roblox, Rocket Companies and SoFi Technologies will lead earnings after Tuesday’s bell.
|EA||ELECTRONIC ARTS INC.||115.29||-4.32||-3.61%|
|OXY||WESTERN PETROLEUM CORP.||64.90||+2.67||+4.29%|
|RKT||THE ROCKET COMPANIES INC.||8.58||-0.18||-2.05%|
The NFIB Business Optimism Index will be the main event for economic data. New York Fed President John Williams will also deliver a keynote address at the National Association for Business Economics/Bundesbank International Economic Symposium.
Additionally, Atlanta Fed President Raphael Bostic will deliver introductory remarks and moderate a conversation prior to the Atlanta Financial Markets Conference. Cleveland Fed Chair Loretta Mester will also participate in the conference’s “Monetary Policy and Financial Stability Challenges During Balance Sheet Normalization” session.
In politics, President Biden will host Italian Prime Minister Mario Draghi at the White House to discuss “ongoing coordination with Allies and partners on measures to support the Ukrainian people and impose economic costs on the Russia for its unprovoked aggression”.
The UN General Assembly will also vote on Russia’s replacement on the Human Rights Council.
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Winnings on Wednesday’s schedule include Krispy Kreme, Perrigo and Wendy’s before the market opens and Beyond Meat, Bumble, Rivian, Virgin Orbit, Disney and ZipRecruiter after the bell.
|PRGO||PERRIGO CO. APIs||32.48||+0.17||+0.53%|
|MAGNIFYING GLASS||THE WENDY’S CO.||6:43 p.m.||-0.41||-2.18%|
|BYND||BEYOND MEAT INC.||35.83||-2.60||-6.77%|
|SHORE||RIVIAN AUTOMOTIVE INC.||28.79||-1.92||-6.25%|
|SAY||THE WALT DISNEY CO.||110.32||-2.38||-2.11%|
|ZIP *: ENGLISH||ZIPRECRUIT||21.85||-0.90||-3.96%|
The Consumer Price Index, Federal Budget Deficit, Weekly Mortgage Applications and Weekly Energy Information Administration Crude Inventories will be the focus of the economic data. Atlanta Fed President Raphael Bostic will also speak on the economic outlook and monetary policy and participate in a moderated conversation before the World Affairs Council in Jacksonville.
Additionally, Google will host its annual I/O Developer Conference.
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Thursday’s earnings will include Six Flags Entertainment, Tapestry, US Foods, UTZ Brands and WeWork before market open and Joby Aviation, Poshmark and Wheels Up Experience after the bell.
Investors will also be watching the producer price index and the latest information on initial and continuing unemployment claims. San Francisco Fed President Mary Daly will also participate in a fireside chat moderated by former San Francisco Fed Seattle Branch Manager Sophie Minich.
|SIX||SIX FLAGS ENTERTAINMENT CORP.||34.10||-0.36||-1.06%|
|USFD||US FOODS HOLDING CORP.||36.56||-0.63||-1.69%|
|UTZ||UTZ BRANDS, INC.||1:38 p.m.||-0.14||-1.04%|
|AT THE TOP||THE WHEELS UP INC EXPERIENCE||2.91||-0.08||-2.68%|
President Joe Biden will host leaders of the Association of Southeast Asian Nations (ASEAN) in Washington, DC, for a special U.S.-ASEAN summit.
“The Special Summit will demonstrate the United States’ enduring commitment to ASEAN, recognizing its central role in providing lasting solutions to the region’s most pressing challenges, and will commemorate 45 years of U.S.-ASEAN relations. ‘ASEAN,” White House press secretary Jen Psaki said in a statement. statement. “It is a top priority for the Biden-Harris administration to serve as a strong and reliable partner in Southeast Asia. Our shared aspirations for the region will continue to underpin our shared commitment to advancing a free Indo-Pacific. and open, secure, connected and resilient.”
Other notable events include the second Global Summit on COVID-19, where the United States, Belize, Germany, Indonesia, and Senegal will redouble their collective efforts to “end the phase of the COVID-19 Pandemic and Prepare for Future Health Threats,” and Microsoft’s Security Summit, which will feature technology demonstrations and discussions on the modern cyber threat landscape.
The Import Price Index and the University of Michigan Consumer Sentiment Index will end the week. Additionally, Minneapolis Fed Chairman Neel Kashkari will speak at a virtual event on energy prices and their influence on inflation and Samsung will hold its first forum on 6G networks.