Fed decision, jobs report, CVS Health earnings top week ahead
Clorox, Pfizer, Airbnb, Peloton Interactive & Uber top the earnings docket
What to expect from markets in 2022
Advisor Group chief market strategist Phil Blancato and Eva Agi of Gerber Kawasaki Wealth & Investment Management weigh in on earnings, consumers and the markets.
The upcoming week will be jam-packed with earnings from big consumer names along with two key reports on the job market as well as the Federal Reserve's decision on interest rates and further guidance on a "gradual tapering process" of the agency's bond-buying program mentioned in the September meeting's minutes.
NOVEMBER BEGINS BEST 3-MONTHS FOR STOCKS
| 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% |
This as the markets begin the month of November in record territory after shaking off losses from Apple and Amazon's disappointing earnings reports.
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 11/1
Taking the spotlight for earnings on Monday will be PG&E before the market open and Clorox after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PCG | PG&E CORP. | 21.64 | +0.04 | +0.16% |
| CLX | THE CLOROX CO. | 167.17 | +0.02 | +0.01% |
As for economic data, investors will be watching car sales, construction spending, and the Institute of Supply Management's manufacturing PMI.
President Joe Biden holds his face mask and waves as he exits Air Force One at Capital Region International Airport, Tuesday, Oct. 5, 2021, in Lansing, Mich. (AP Photo/Evan Vucci) (AP Photo/Evan Vucci / AP Newsroom)
In the world of politics, President Biden will head to Glasglow, Scotland to attend the World Leader Summit kicking off the COP26 climate change gathering. Former President Barack Obama is also expected to be in attendance and deliver remarks. Meanwhile, in China, a new law designed to protect online user data privacy will take effect.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSN | TYSON FOODS INC. | 64.50 | +0.55 | +0.86% |
| FDX | FEDEX CORP. | 302.74 | -0.67 | -0.22% |
| GM | GENERAL MOTORS CO. | 55.59 | +0.09 | +0.16% |
| DELL | DELL TECHNOLOGIES INC. | 127.59 | +3.21 | +2.58% |
Other notable events on Monday include the deadline for all Tyson Foods employees to be fully vaccinated against COVID-19, FedEx's fuel surcharge increase for express, ground and freight shipments, the reopening of all General Motors plants stalled by the ongoing chip shortage and the completion of Dell's spinoff of VMware.
Tuesday 11/2
Earnings will ramp up on Tuesday with ConocoPhillips, Estee Lauder, Ferrari, Pfizer, Ralph Lauren and Under Armour before the market open. Meanwhile, Activision Blizzard, Caesars Entertainment, Denny's, Lyft, Match Group, Mondelez International and T-Mobile US are all set to deliver earnings results after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COP | CONOCOPHILLIPS | 108.34 | +0.95 | +0.88% |
| EL | THE ESTÉE LAUDER COMPANIES INC. | 72.12 | -1.49 | -2.02% |
| RACE | FERRARI NV | 434.16 | +2.59 | +0.60% |
| PFE | PFIZER INC. | 26.21 | +0.38 | +1.47% |
| RL | RALPH LAUREN CORP. | 231.36 | +8.77 | +3.94% |
| UAA | UNDER ARMOUR INC. | 9.71 | +0.01 | +0.10% |
| ATVI | NO DATA AVAILABLE | - | - | - |
| CZR | CAESARS ENTERTAINMENT INC. | 38.49 | +0.24 | +0.63% |
| DENN | DENNY'S CORP. | 6.56 | +0.20 | +3.14% |
| LYFT | LYFT INC. | 17.36 | +0.18 | +1.05% |
| MTCH | MATCH GROUP INC. | 32.74 | +0.23 | +0.71% |
| MDLZ | MONDELEZ INTERNATIONAL INC. | 64.95 | -0.11 | -0.17% |
| TMUS | T-MOBILE US INC. | 246.94 | +0.74 | +0.30% |
Tuesday the Federal Open Market Committee meeting will kick off. In addition, the CDC will meet to discuss pediatric vaccinations and Kellogg will meet with its striking union workers to negotiate a new contract.
Wednesday 11/3
Investors will take in CVS Health and Marriott International earnings before the market open Wednesday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CVS | CVS HEALTH CORP. | 59.85 | -0.11 | -0.18% |
| MAR | MARRIOTT INTERNATIONAL INC. | 289.09 | +3.49 | +1.22% |
Meanwhile, Cheesecake Factory, e.l.f. Beauty, Electronic Arts, Etsy, Fisker, Fox, Hyatt Hotels, MGM Resorts, Qualcomm, and Roku will be in focus after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CAKE | CHEESECAKE FACTORY INC. | 50.64 | +0.90 | +1.81% |
| ELF | E.L.F. BEAUTY INC. | 129.52 | +2.37 | +1.86% |
| EA | ELECTRONIC ARTS INC. | 163.67 | +0.57 | +0.35% |
| ETSY | ETSY INC. | 54.86 | +0.55 | +1.01% |
| FSR | NO DATA AVAILABLE | - | - | - |
| FOXA | FOX CORP. | 47.12 | +0.41 | +0.88% |
| H | HYATT HOTELS CORP. | 157.94 | +1.83 | +1.17% |
| MGM | MGM RESORTS INTERNATIONAL | 38.34 | +0.97 | +2.60% |
| QCOM | QUALCOMM INC. | 158.53 | +2.13 | +1.36% |
| ROKU | ROKU INC. | 69.03 | +1.32 | +1.95% |
Economic data on the docket for Wednesday will be the ADP national employment report, durable goods and factory orders, the ISM non-manufacturing PMI, weekly mortgage applications, and the Energy Information Administration's weekly crude stocks.
Federal Reserve chairman Jerome Powell will also hold a press conference following the release of the FOMC decision.
In addition, Allbirds will make its Nasdaq debut under the ticker symbol BIRD. The footwear and apparel retailer is selling approximately 19.2 million shares at $12 to $14 apiece.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 92.50 | +0.62 | +0.67% |
| M | MACY'S INC. | 16.24 | +0.28 | +1.75% |
Walmart and Macy's will also begin to roll out their respective Black Friday deals.
Thursday 11/4
On Thursday, investors will take in earnings from Hanesbrands, Kellogg, Moderna, Nikola, ViacomCBS, and Wayfair before the market open and Airbnb, Peloton Interactive, Pinterest, Shake Shack, Square, Uber, WW International and Yelp after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HBI | HANESBRANDS INC. | 8.70 | -0.04 | -0.46% |
| K | KELLANOVA | 81.29 | +0.14 | +0.17% |
| MRNA | MODERNA INC. | 43.06 | -0.33 | -0.76% |
| NKLA | NIKOLA CORP. | 2.01 | +0.05 | +2.55% |
| VIAC | NO DATA AVAILABLE | - | - | - |
| W | WAYFAIR INC. | 46.24 | +0.83 | +1.83% |
| ABNB | AIRBNB INC. | 136.11 | -2.17 | -1.57% |
| PTON | PELOTON INTERACTIVE INC. | 10.34 | +0.61 | +6.27% |
| PINS | PINTEREST INC. | 30.32 | 0.00 | 0.00% |
| SHAK | SHAKE SHACK | 133.73 | +1.38 | +1.04% |
| SQ | BLOCK INC. | 88.55 | -0.23 | -0.26% |
| UBER | UBER TECHNOLOGIES INC. | 71.96 | +0.34 | +0.47% |
| WW | WW INTERNATIONAL INC. | 1.34 | +0.13 | +10.74% |
| YELP | YELP INC. | 38.22 | +0.14 | +0.37% |
As for economic data, investors will watch challenger layoffs, international trade, initial and continuing jobless claims, labor costs and productivity.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BJ | BJS WHSL CLUB HLDGS INC | 95.21 | -1.09 | -1.13% |
The rollout of Black Friday deals will continue on Thursday with BJ's Wholesale club. Meanwhile, OPEC+ will hold its monthly virtual meeting as the organization continues to monitor oil market conditions.
Friday 11/5
The big jobs report due Friday is expected to show employers added 413,000 jobs an improvement from the 194,000 in September. The unemployment rate is expected to fall to 4.7% from 4.8%.
Wrapping up the week will be earnings from AMC Networks, Canopy Growth, Cinemark Holdings, Dominion Energy, DraftKings, EW Scripps and Goodyear Tire & Rubber Company before the market open, the October jobs report and consumer credit.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMCX | AMC NETWORKS INC. | 9.42 | -0.05 | -0.53% |
| CGC | CANOPY GROWTH CORP. | 3.87 | -0.03 | -0.77% |
| CNK | CINEMARK HOLDINGS INC. | 34.52 | +0.34 | +0.99% |
| D | DOMINION ENERGY INC. | 58.75 | -0.28 | -0.48% |
| DKNG | DRAFTKINGS INC. | 43.65 | +0.62 | +1.44% |
| SSP | THE E.W. SCRIPPS CO. | 2.00 | +0.05 | +2.56% |
| GT | GOODYEAR TIRE & RUBBER CO. | 10.74 | +0.13 | +1.23% |
In addition, a judge is expected to issue a final ruling on a challenge to Florida's mask mandate ban for public schools. Former U.S. secretary of state Colin Powell's memorial service will also be held at Washington National Cathedral.