Bank earnings, CPI inflation data, IMF meeting top week ahead
The Consumer Price Index, due Wednesday, is expected to remain above 5%
Carleton English, Jack Hough and Andrew Bary discuss the stock market, gold prices and used cars on ‘Barron’s Roundtable.’
Investors head into a busy week following the long Easter holiday weekend with the kickoff of earnings season and a key meeting of the IMF and World Bank.
The stock market wrapped the short week mixed with the S&P 500 and the Nasdaq Composite posting fractional weekly losses, while the Dow Jones Industrial Average inched modestly higher.
FOX Business breaks down this week's top market events:
IMF PROJECTS SLOWEST RATE OF GROWTH IN DECADES, URGES 'SUPPORT' FROM WEALTHIER COUNTRIES
Monday, April 10
The World Bank and IMF spring meetings kick off with Kristalina Georgievea, the IMF's managing director, and David Malpass, the president of the World Bank Group, hosting a seminar on "The Way Forward," which will likely include updated projections for the global economy.
Elsewhere, economic data includes inflation expectations, which are forecast to contract, as well as a speech from John Williams, president, Federal Reserve Bank of New York.
Tuesday, April 11 - One Week Until Tax Day
Tuesday marks one week until Tax Day for those still needing to file.
A blank 1040 tax return form from the IRS. (iStock / iStock)
Also, the National Labor Relations Board conducts a hearing investigating a complaint against Starbucks for alleged unfair labor practices at four stores.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 102.50 | +2.44 | +2.44% |
| MRNA | MODERNA INC. | 41.11 | +2.86 | +7.48% |
JUDGE SAYS STARBUCKS COMMITTED ‘EGREGIOUS AND WIDESPREAD’ LABOR VIOLATIONS FIGHTING UNIONS
Moderna will also be hosting its Vaccine Day with presentations from management and key opinion leaders on Moderna's mRNA vaccines and key considerations for vaccine development.
Earnings reported before markets open will include Albertsons and CarMax, with nothing of note reporting after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ACI | ALBERTSONS COMPANIES | 19.37 | +0.31 | +1.63% |
| KMX | CARMAX INC. | 81.54 | +0.91 | +1.12% |
Economic data this week will include the NFIB business optimism index.
Wednesday, April 12
The highly anticipated Consumer Price Index will be released and is expected dip below 6% in a sign inflation is moderating.
In corporate news, embattled Bed Bath & Beyond is expected to report earnings before markets open as the company continues to fend off bankruptcy.
After the bell Rent the Runway is expected to report earnings.
BED BATH & BEYOND ENTERS INTO $120M MERCHANDISE AGREEMENT IN BID TO STAVE OFF BANKRUPTCY
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BBBY | NO DATA AVAILABLE | - | - | - |
| RENT | RENT THE RUNWAY INC. | 9.60 | -0.08 | -0.83% |
Thursday, April 13
On Thursday earnings before markets open include Delta Air Lines and Fastenal, with nothing of note after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 63.30 | -0.03 | -0.05% |
| FAST | FASTENAL CO. | 83.08 | +0.72 | +0.87% |
| HOFT | HOOKER FURNITURE | 18.67 | -0.23 | -1.22% |
| PGR | PROGRESSIVE CORP. | 266.06 | +2.65 | +1.01% |
Economic data reported will include initial jobless claims and the producer price index, which like the CPI, is expected to moderate to the 3% level, falling below the 4.6% in the last read.
Friday, April 14
On Friday investors will get the first update on the banking sector after the collapse of Silicon Valley Bank and Signature Bank.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 1,036.73 | +8.59 | +0.84% |
| C | CITIGROUP INC. | 69.82 | +0.88 | +1.28% |
| FRC | NO DATA AVAILABLE | - | - | - |
| JPM | JPMORGAN CHASE & CO. | 248.55 | +3.79 | +1.55% |
| PNC | THE PNC FINANCIAL SERVICES GROUP INC. | 210.07 | +4.32 | +2.10% |
| WFC | WELLS FARGO & CO. | 75.92 | +1.09 | +1.46% |
| UNH | UNITEDHEALTH GROUP INC. | 590.78 | -6.49 | -1.09% |
JPMorgan Chase and the much watched First Republic Bank will report, along with PNC Financial Services Group, Citigroup, Wells Fargo and BlackRock. UnitedHealth Group is also on the docket.
The SVB (Silicon Valley Bank) logo and U.S. flag are seen in this illustration taken March 13, 2023. (Reuters/Dado Ruvic/Illustration / Fox News)
In merger news, Canada Pacific and Kansas City Southern will officially combine. The new company will be called Canada Pacific Kansas City and will be North America’s first transnational railroad.
FIRST MAJOR US RAILROAD MERGER IN DECADES WILL GO FORWARD
Kansas City Southern (KSC) Railway signage is displayed on a freight car parked at a rail yard in Kansas City, Missouri, on Jan. 7, 2020. (Whitney Curtis/Bloomberg via / Getty Images)
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Economic data to round out the week will include import prices, export prices, retail sales, industrial production, business inventories, and University of Michigan's consumer sentiment index. The CSI is expected to remain steady near its four-month low around 64.
Jessica MacKenzie contributed to this story.