Biden State of the Union, Powell testimony, Target earnings top week ahead
Other earnings on the docket this week include Domino's Pizza, AMC Entertainment, Wendy's and Dollar Tree
Charles Payne: We've 'been reminded again that the stock market doesn't care' about this
FOX Business host gives his take on the stock market's response to Biden's handling of the Russian invasion of Ukraine on 'Making Money.'
Stocks are poised for another volatile week as investors continue to monitor Russia's ongoing invasion of Ukraine. On Friday, the Dow Jones Industrial Average experienced its best day since late 2020 as investors bargain-hunted beaten-down stocks. The Dow rose over 834 points, or 2.5%, while the S&P 500 and Nasdaq Composite rose 2.2% and 1.6%, respectively.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44782 | -128.65 | -0.29% |
| SP500 | S&P 500 | 6047.15 | +14.77 | +0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19403.947849 | +185.78 | +0.97% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 2/28
Kicking off the week for earnings on Monday will be Lordstown Motors, Nielsen, Party City and Tegna before the market open and SmileDirectClub, Workday and Zoom Video Communications after the bell. Investors will also take in the Chicago purchasing managers index.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RIDE | NO DATA AVAILABLE | - | - | - |
| NLSN | NO DATA AVAILABLE | - | - | - |
| PRTY | NO DATA AVAILABLE | - | - | - |
| TGNA | TEGNA INC. | 18.77 | 0.00 | 0.00% |
| SDC | NO DATA AVAILABLE | - | - | - |
| WDAY | WORKDAY INC. | 251.46 | +1.47 | +0.59% |
| ZM | ZOOM COMMUNICATIONS INC. | 83.11 | +0.42 | +0.51% |
Atlanta Fed president Raphael Bostic will also speak on "The Federal Reserve and the Economy" and participate in a moderated conversation before a virtual event with Harvard University EC 10 class students.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PG | PROCTER & GAMBLE CO. | 179.26 | -0.10 | -0.06% |
In addition, Procter & Gamble will raise prices on laundry products including Tide, Gain, Bounce and Unstopables.
Tuesday 3/1
On Tuesday, AutoZone, Chico's FAS, Domino's Pizza, Hormel Foods, Hostess Brands, Kohl's, Target and Wendy's will be among the companies leading earnings before the market open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AZO | AUTOZONE INC. | 3,169.54 | -20.56 | -0.64% |
| CHS | NO DATA AVAILABLE | - | - | - |
| DPZ | DOMINO'S PIZZA INC. | 476.19 | +3.85 | +0.82% |
| HRL | HORMEL FOODS CORP. | 32.43 | +0.51 | +1.60% |
| TWNK | NO DATA AVAILABLE | - | - | - |
| KSS | KOHL'S CORP. | 14.97 | +0.22 | +1.49% |
| TGT | TARGET CORP. | 132.31 | +2.22 | +1.71% |
| WEN | THE WENDY'S CO. | 18.36 | -0.17 | -0.92% |
Meanwhile, AMC Entertainment, Hewlett-Packard Enterprise, Nordstrom, Ross Stores, Saleforce.com, Urban Outfitters and WW International will take the earnings spotlight after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 5.04 | +0.10 | +2.02% |
| HPE | HEWLETT PACKARD ENTERPRISE CO. | 21.22 | +0.42 | +2.02% |
| JWN | NORDSTROM INC. | 22.71 | +0.09 | +0.40% |
| ROSS | NO DATA AVAILABLE | - | - | - |
| CRM | SALESFORCE INC. | 329.99 | -0.02 | -0.01% |
| WW | WW INTERNATIONAL INC. | 1.34 | +0.13 | +10.74% |
Economic data on the docket for Tuesday includes the Markit manufacturing PMI, construction spending, and the ISM manufacturing index. Bostic will also participate in a moderated conversation entitled "Survey of Business Uncertainty" before the Atlanta Fed's virtual "Business Uncertainty Panel Member Economic Briefing and Policy Discussion".
NEW YORK, NEW YORK - SEPTEMBER 21: U.S. President Joe Biden addresses the 76th Session of the U.N. General Assembly on September 21, 2021 at U.N. headquarters in New York City. (Photo by Timothy A. Clary-Pool/Getty Images) ((Photo by Timothy A. Clary-Pool/Getty Images) / Getty Images)
In the world of politics, President Biden is set to deliver his first State of the Union address since taking office. Other notable events on Capitol Hill include a series of House hearings covering topics including small businesses and competition, the impact of the American Rescue Plan's state and local fiscal recovery funds, improving retirement security and access to mental health benefits, holding Big Tech accountable and a review of NASA's Artemis initiative.
Wednesday 3/2
Abercrombie & Fitch and Dollar Tree will deliver earnings results before the market open on Wednesday, while American Eagle Outfitters, Okta, Snowflake and Victoria's Secret will be in focus after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ANF | ABERCROMBIE & FITCH CO. | 157.26 | +7.71 | +5.15% |
| DLTR | DOLLAR TREE INC. | 71.27 | -0.23 | -0.32% |
| AEO | AMERICAN EAGLE OUTFITTERS INC. | 19.24 | +0.66 | +3.55% |
| OKTA | OKTA INC. | 80.85 | +3.29 | +4.24% |
| SNOW | SNOWFLAKE INC. | 172.14 | -2.66 | -1.52% |
| VSCO | VICTORIA'S SECRET & CO. | 41.71 | +2.87 | +7.39% |
Wednesday's economic data will include the ADP national employment report, the Beige Book and the latest on weekly mortgage applications and the Energy Information Administration's weekly crude stocks.
FILE - In this Sept. 30, 2021, file photo, Federal Reserve Chairman Jerome Powell testifies during a House Financial Services Committee hearing on Capitol Hill in Washington. (Sarah Silbiger/Pool Photo via AP, File) (Sarah Silbiger/Pool Photo via AP, File / Associated Press)
The Federal Reserve will continue to make the rounds with Jerome Powell delivering testimony on monetary policy before Congress on Wednesday and Thursday. Chicago Fed president Charles Evans will also speak on current economic conditions and monetary policy before the hybrid Lake Forest-Lake Bluff Rotary Club 2022 Economic Update event.
Thursday 3/3
Wrapping up the week for earnings will be Big Lots, BJ’s Wholesale Club, Burlington Stores, Kroger, Toro and UTZ Brands before the market open and Costco Wholesale, Gap and Smith & Wesson Brands after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BIG | NO DATA AVAILABLE | - | - | - |
| BJ | BJS WHSL CLUB HLDGS INC | 95.21 | -1.09 | -1.13% |
| BURL | BURLINGTON STORES | 290.34 | +8.46 | +3.00% |
| KR | THE KROGER CO. | 60.15 | -0.93 | -1.52% |
| TTC | THE TORO CO. | 86.50 | -0.58 | -0.67% |
| UTZ | UTZ BRANDS, INC. | 17.26 | -0.15 | -0.86% |
| COST | COSTCO WHOLESALE CORP. | 975.00 | +3.12 | +0.32% |
| GPS | NO DATA AVAILABLE | - | - | - |
| SWBI | SMITH & WESSON BRANDS | 13.72 | +0.14 | +1.03% |
Thursday will be the busiest day for economic data with revisions for labor costs, productivity and core capital equipment orders, factory orders, the ISM services index, Markit services PMI and the latest on initial and continuing jobless claims. New York Fed president John Williams will also participate in a moderated discussion before Council for Economic Education's virtual "Economists on the Economy" event.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DKNG | DRAFTKINGS INC. | 43.93 | +0.28 | +0.64% |
| NKE | NIKE INC. | 79.09 | +0.72 | +0.92% |
Other notable events on Thursday include DraftKings' virtual investor day and the release of Drake's first sneaker collaboration with Nike.
Friday 3/4
Finishing out the week for economic data will be the February jobs report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RCL | ROYAL CARIBBEAN GROUP | 241.98 | +0.33 | +0.14% |
In addition, Royal Caribbean's Wonder of the Seas, the world's largest cruise ship, will set sail for the first time ever from Port Everglades.