AMC, Disney earnings, job openings, inflation data top week ahead
Tyson Foods, Wendy's, Airbnb & Doordash will all report earnings this week
How should investors react to soaring earnings?
Belpointe chief strategist David Nelson, Gibbs Wealth Management President Erin Gibbs and Invest Diva CEO and author Kiana Danial break down today’s markets, cryptocurrency and this earnings season.
Investors will take in key jobs and inflation data in the upcoming week along with a fresh round of corporate earnings.
Already, for the second quarter, over 87% of S&P 500 companies have beaten revenue and profit expectations.
As a result, the Dow Jones Industrial Average and S&P closed at record highs on Friday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43444.99 | -305.87 | -0.70% |
| SP500 | S&P 500 | 5870.62 | -78.55 | -1.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18680.120875 | -427.53 | -2.24% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 8/9
BioNTech, Dish Network, Energizer Holdings, Tegna and Tyson Foods are among the big names that will kick off the week for earnings before the opening bell Monday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BNTX | BIONTECH SE | 99.72 | -3.84 | -3.71% |
| DISH | NO DATA AVAILABLE | - | - | - |
| ENR | ENERGIZER HOLDINGS INC. | 33.92 | +0.10 | +0.30% |
| TGNA | TEGNA INC. | 17.64 | -0.47 | -2.60% |
| TSN | TYSON FOODS INC. | 64.32 | +0.30 | +0.47% |
Meanwhile, AMC Entertainment, Cable One, Ethan Allen, Planet Fitness and SmileDirectClub will be among the names taking the spotlight after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT | 4.48 | -0.10 | -2.18% |
| CABO | CABLE ONE INC. | 397.64 | -10.06 | -2.47% |
| ETH | GRAYSCALE ETHEREUM MINI TRUST [ETH] | 2.91 | -0.01 | -0.34% |
| PLNT | PLANET FITNESS INC. | 95.27 | -0.94 | -0.98% |
| SDC | NO DATA AVAILABLE | - | - | - |
The main event for economic data on Monday will be the JOLTS report for the month of June. In May, the total number of job openings held steady from the previous month at 9.2 million.
Also on Monday, Atlanta Fed president Raphael Bostic will speak about "Building an Inclusive Economy" before a virtual event by the Greater Fort Lauderdale Alliance Foundations Prosperity Partnership.
It will also be a big day for cryptocurrencies as Net Savings Link is expected to launch the second publicly traded crypto exchange in the U.S. called NSAV. Net Savings Link will own 100% of the exchange.
Tuesday 8/10
On Tuesday, investors will take in earnings results from Aramark, Casper Sleep and Sysco before the opening bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ARMK | ARAMARK | 37.36 | -1.32 | -3.41% |
| CSPR | NO DATA AVAILABLE | - | - | - |
| SYY | SYSCO CORP. | 74.97 | +0.01 | +0.01% |
| TDG | TRANSDIGM GROUP INC. | 1,253.71 | -19.46 | -1.53% |
After the bell, Chesapeake Energy, fuboTV, McAfee and Poshmark are all set to report results.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CHK | NO DATA AVAILABLE | - | - | - |
| FUBO | FUBOTV | 1.51 | -0.06 | -3.82% |
| MCFE | NO DATA AVAILABLE | - | - | - |
| POSH | NO DATA AVAILABLE | - | - | - |
Economic data to watch on Tuesday will be the National Federation of Independent Business' small business optimism index as well as labor costs and productivity for the second quarter.
Also, Federal Reserve Bank of Chicago president Charles Evans will hold a virtual on-the-record conversation with members of the media on the economy and monetary policy.
Wednesday 8/11
The earnings parade continues on Wednesday with Perrigo and Wendy's before the opening bell and major names including Bumble, eBay, Lordstown Motors, NIO and Sonos after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PRGO | PERRIGO CO. PLC | 26.81 | -0.13 | -0.48% |
| WEN | THE WENDY'S CO. | 18.12 | -0.36 | -1.95% |
| BMBL | BUMBLE INC. | 7.87 | -0.36 | -4.37% |
| EBAY | EBAY INC. | 61.43 | -0.87 | -1.40% |
| RIDE | NO DATA AVAILABLE | - | - | - |
| NIO | NIO INC. | 4.49 | +0.06 | +1.35% |
| SONO | SONOS INC. | 13.05 | -0.70 | -5.09% |
Inflation and the consumers will also be in focus with the core CPI and consumer price index. Other economic data slated for Wednesday includes the federal budget deficit, weekly mortgage applications, and the Energy Information Administration's weekly crude stocks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 69.75 | -1.54 | -2.16% |
Also on Wednesday, Atlanta Fed president Raphael Bostic will give a lecture entitled "The Federal Reserve's Role in Making This an Economy That Works for Everyone" at the Chautauqua Institution, in partnership with the African American Heritage House of Chautauqua. Meanwhile, Kansas City Federal Reserve Bank president Esther George will give remarks in an event titled "A View from the Federal Reserve Bank of Kansas City" before the National Association for Business Economics' virtual 18th annual economic measurement seminar.
Samsung will also hold its highly anticipated Unpacked event on Wednesday. The tech giant teased in a blog post that consumers will be introduced to more foldable devices with the Z Flip and Galaxy Z Fold2, the third generation of its Galaxy Z series. It will also unveil the first-ever S pen for foldable phones and will build upon the features of its current Galaxy Note model.
Thursday 8/12
Wrapping up the week for earnings will be Baidu, GoodRx, Palantir Technologies, UTZ Brands and Wheels Up Experience before the opening bell, while Airbnb, DoorDash, SoFi Technologies and Disney will close out the week after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BIDU | BAIDU INC. | 84.58 | +0.53 | +0.62% |
| GDRX | GOODRX HOLDINGS INC. | 4.15 | -0.41 | -8.99% |
| PLTR | PALANTIR TECHNOLOGIES INC. | 65.77 | +6.59 | +11.14% |
| UTZ | UTZ BRANDS, INC. | 16.30 | -0.58 | -3.46% |
| UP | WHEELS UP EXPERIENCE INC | 2.00 | -0.01 | -0.50% |
| ABNB | AIRBNB INC. | 132.50 | -2.06 | -1.53% |
| DASH | DOORDASH INC. | 169.43 | -4.37 | -2.51% |
| SOFI | SOFI TECHNOLOGIES | 13.63 | +0.23 | +1.72% |
| DIS | THE WALT DISNEY CO. | 115.07 | +5.94 | +5.44% |
As for economic data, the producer price index and initial and continuing jobless claims are on the docket.
Friday 8/13
Finishing out the week, for economic data will be import and export prices as well as the University of Michigan's consumer sentiment index. Other notable events on Friday include the distribution of the second child tax credit payment and Disney raising the price of its ESPN+ streaming service from $6 to $7 per month and from $60 to $70 per year.