Jobs data, Elon Musk's rescheduled Twitter deposition, Levi Strauss earnings top week ahead
Other earnings on the docket include Conagra Brands, Constellation Brands, IDT Corp
Economic data slowing down even with a strong labor market: Rob Haworth
U.S. Bancorp Wealth Management Senior Investment Strategist Rob Haworth on the U.S. financial system facing 'systemic risk' on 'The Claman Countdown.'
Investors' upcoming week on Wall Street will be laser-focused on key jobs data as the last quarter of 2022 gets underway as well as corporate earnings from big names such as Conagra Brands, the owner of brands that include Birds Eye and Duncan Hines and apparel brand Levi Strauss.
U.S. stocks wrapped the month and quarter on Friday with losses as volatility spiked. Concerns about a recession and inflation drove the Dow Jones Industrial Average into bear market territory.
For the month, the Dow and the S&P 500 lost 9%, while the technology-heavy Nasdaq Composite fell 10.5%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 44296.51 | +426.16 | +0.97% |
| SP500 | S&P 500 | 5969.34 | +20.63 | +0.35% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19003.651134 | +31.23 | +0.16% |
FOX Business takes a look at the upcoming events likely to move financial markets in the coming days.
STOCK MARKET NEWS: FED'S INFLATION GAUGE RISES, NIKE SHARES FALL, STOCKS WRAP ROUGH SEPTEMBER
Monday 10/3
Construction spending and the ISM manufacturing PMI will kick off the week for economic data.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XPER | NO DATA AVAILABLE | - | - | - |
Technology company Xperi will ring the New York Stock Exchange's opening bell to commemorate the completion of its spinoff as an independent publicly traded stand-alone entity. Meanwhile, Adeia, Xperi Holding Corporation's newly renamed independent intellectual property licensing business, will ring the closing bell at the Nasdaq MarketSite.
Xperi will trade under the symbol XPER, while Adeia will be listed under ADEA.
Atlanta Fed president Raphael Bostic will give opening remarks and participate in a moderated discussion before the 2022 Technology-Enabled Disruption (TED) conference, hosted by the Federal Reserve Banks of Atlanta, Richmond and Dallas. Also speaking at the conference will be Richmond Fed President Thomas Barkin. Additionally, Kansas City Fed President Ester George will speak about payments before the Federal Reserve Bank of Chicago Payments Symposium.
American flags fly outside the New York Stock Exchange Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer / AP Newsroom)
Other notable events include the Moscow Exchange ending trading in British pounds and a settlement conference related to an investor lawsuit against Tesla about chief executive Elon Musk's tweets.
FED'S BRAINARD WARNS RESTRICTIVE INTEREST RATES MAY BE NEEDED ‘FOR SOME TIME’
Tuesday 10/4
Lighting and building management company Acuity Brands will take the earnings spotlight on Tuesday before the market open. On the economic data front, investors will receive reports on factory orders, durable goods and the latest job openings data from the Job Openings and Labor Turnover Survey (JOLTS) report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AYI | ACUITY BRANDS INC. | 326.30 | +5.83 | +1.82% |
New York Fed President John Williams will deliver opening remarks before the bank's "Culture and the New Workplace" webinar. Additionally, Dallas Fed President Lorie Logan will give welcome remarks before the 2022 Technology-Enabled Disruption (TED) conference, Cleveland Fed President Loretta Mester will speak about payments at the Chicago Fed's Payments Symposium and San Francisco Fed President Mary Daly will participate in a chat before a hybrid event with the Council on Foreign Relations.
Wednesday 10/5
Helen of Troy, the owner of brands including Braun, Honeywell and Vicks, along with frozen potato product maker Lamb Weston report before the market open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HELE | HELEN OF TROY LTD. | 69.92 | +0.86 | +1.25% |
| LW | LAMB WESTON HOLDINGS INC. | 76.92 | +0.17 | +0.22% |
Meanwhile, the ADP national employment report, international trade balance, ISM non-manufacturing PMI, weekly mortgage applications and the Energy Information Administration's weekly crude stocks are on deck for economic data.
Federal Reserve Bank of Atlanta President Raphael Bostic will also speak on "Staying Resolute in the Battle Against Inflation" before Northwestern University Institute for Policy Research's virtual Distinguished Public Policy Lecture.
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Thursday 10/6
Thursday will be the busiest day for earnings with food company Conagra Brands, spirits maker Constellation Brands and spice maker McCormick & Co. reporting before the market open. Communications provider IDT Corp and Levi Strauss report after the bell. As for economic data, investors will be watching the latest in initial and continuing jobless claims.
Also on Thursday, Chicago Fed President Charles Evans will participate in a moderated question-and-answer session with the Illinois Chamber of Commerce, and Cleveland Fed President Loretta Mester will speak on monetary policy and the economic outlook before the Council for Economic Education "Economists on the Economy" event.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 125.01 | +3.42 | +2.81% |
| GOOGL | ALPHABET INC. | 164.76 | -2.87 | -1.71% |
| TWTR | NO DATA AVAILABLE | - | - | - |
Other notable events include Target's second Deal Days 2022 event, Google's unveiling of the latest Pixel lineup and Elon Musk's rescheduled deposition in his ongoing legal battle with Twitter.
Friday 10/7
Finishing out the week will be the September jobs report, wholesale inventories and sales and consumer credit. New York Fed President John Williams will also participate in a fireside chat and moderated question-and-answer session organized by SUNY Buffalo State