Job openings, inflation data, JPMorgan earnings and Blue Origin liftoff top week ahead
The latest Fed minutes will be released on Wednesday
US labor secretary explains what led to disappointing jobs report
Labor Secretary Marty Walsh argues the dismal jobs report was due to the Delta variant, which affected economic activity and, therefore, job growth.
The upcoming week will be jam-packed with economic data, bank earnings and another Blue Origin space milestone.
| 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% |
Stocks finished lower on Friday after the September jobs report missed Wall Street estimates. The U.S. economy added 194,000 jobs, well below the 500,000 expected by economists surveyed by Refinitiv.
Oil will also be in focus as it briefly topped $80 per barrel on Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 71.75 | +0.12 | +0.17% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 10/11
It is Columbus Day and while the stock market will be open for normal trading hours, the bond market will be closed.
It will also be quiet for earnings and economic data, still, investors will hear from Federal Reserve Bank of Chicago President Charles Evans, who will deliver introductory remarks before the 2021 Lawrence R. Klein Award ceremony.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| T | AT&T INC. | 23.16 | -0.11 | -0.47% |
| MCD | MCDONALD'S CORP. | 296.01 | +0.93 | +0.32% |
Other notable events on Monday include the deadline for most AT&T management and all Deloitte employees to be fully vaccinated. McDonald's is also expected to reopen its corporate offices on Monday after pushing back its reopening date from Sept. 7 to allow its workers to get vaccinated.
Tuesday 10/12
The headline report on Tuesday will be the JOLTS report, the latest data on job openings, and the National Federation of Independent Business' business optimism index.
Earnings will ramp up on Tuesday with Fastenal before the market open and SMART Global Holdings after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FAST | FASTENAL CO. | 83.56 | -0.15 | -0.18% |
| SGH | NO DATA AVAILABLE | - | - | - |
In addition, G20 leaders will hold an extraordinary meeting on the situation in Afghanistan, the Tax Foundation and European Tax Policy Forum will hold a virtual conference on the implications of a global tax system, Food Lion will host open interviews at more than 1,100 stores and Lucid Motors will also hold a special DreamDrive event.
Wednesday 10/13
Hump day will kickoff major earnings with BlackRock, JPMorgan Chase, First Republic Bank, and Delta Airlines on the docket for Wednesday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 1,022.80 | +3.35 | +0.33% |
| JPM | JPMORGAN CHASE & CO. | 249.72 | -0.07 | -0.03% |
| FRC | NO DATA AVAILABLE | - | - | - |
| DAL | DELTA AIR LINES INC. | 63.82 | +0.20 | +0.31% |
As for economic data, investors will take in the consumer price index and Core CPI, the latest FOMC minutes and weekly mortgage applications.
It is also a big day for 90-year-old "Star Trek" icon William Shatner, who will blast off with Jeff Bezos' Blue Origin for the aerospace company's second suborbital spaceflight.
New Shepard's NS-18 mission was originally slated to liftoff from the aerospace company's Launch Site One in West Texas at 9:30 a.m. Eastern on Tuesday. However, the flight has been pushed back to Wednesday due to forecasted winds.
Joining Shatner on the spaceflight will be Blue Origin vice president of mission and flight operations Audrey Powers, former NASA engineer and Planet Labs co-founder Dr. Chris Boshuizen and Medidata co-founder and Dassault Systèmes vice chair of life sciences and healthcare Glen de Vries.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVDA | NVIDIA CORP. | 138.63 | +0.38 | +0.27% |
In addition, EU regulators are expected to rule on semiconductor chip manufacturer Nvidia's $54 billion planned takeover of British chip designer Arm.
Thursday 10/14
Thursday will be the busiest day for earnings, with Bank of America, Citigroup, Domino's Pizza, Morgan Stanley, UnitedHealth Group, US Bancorp, Walgreens Boot Alliance, Wells Fargo and Alcoa all set to report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 47.76 | +0.03 | +0.05% |
| C | CITIGROUP INC. | 70.16 | +0.42 | +0.60% |
| DPZ | DOMINO'S PIZZA INC. | 472.36 | -0.50 | -0.11% |
| MS | MORGAN STANLEY | 131.20 | -0.05 | -0.04% |
| UNH | UNITEDHEALTH GROUP INC. | 608.34 | +2.02 | +0.33% |
| USB | U.S. BANCORP | 53.47 | -0.17 | -0.32% |
| WBA | WALGREENS BOOTS ALLIANCE INC. | 9.06 | +0.33 | +3.78% |
| WFC | WELLS FARGO & CO. | 77.20 | -0.11 | -0.14% |
| AA | ALCOA CORP. | 45.88 | -1.54 | -3.25% |
As for economic data, investors will be watching the producer price index, the latest data on initial and continuing jobless claims, and the Energy Information Administration's weekly crude stocks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 44.26 | +1.20 | +2.79% |
| JNJ | JOHNSON & JOHNSON | 154.80 | -0.21 | -0.14% |
Moderna and Johnson and Johnson will also be in focus as the Food and Drug Administration's Vaccines and Related Biological Products Advisory Committee (VRBPAC) will meet on Thursday and Friday to discuss whether to administer booster doses of their COVID-19 vaccines for individuals 18 years or older.
Friday 10/15
Wrapping up the week will be earnings from Goldman Sachs, J.B. Hunt, PNC Financial Services and Prologis.
For economic data watch for import and export prices, retail sales, business inventories, the Empire State manufacturing survey, and the University of Michigan's consumer sentiment index.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GS | THE GOLDMAN SACHS GROUP INC. | 608.57 | +3.14 | +0.52% |
| JBHT | J.B. HUNT TRANSPORT SERVICES INC. | 189.11 | -1.20 | -0.63% |
| PNC | THE PNC FINANCIAL SERVICES GROUP INC. | 214.72 | -0.28 | -0.13% |
| PLD | PROLOGIS INC. | 116.78 | -1.02 | -0.87% |
Friday also marks the deadline to file extended 2020 federal tax returns.