Jobs report, GameStop earnings, home prices top week ahead
The New York Stock Exchange is closed Monday in observance of Memorial Day
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Though the New York Stock Exchange will be closed Monday in observance of the Memorial Day holiday, investors will still have another jam-packed week of corporate earnings and key economic data related to housing, manufacturing and jobs.
| 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 upcoming events likely to move financial markets in the coming days.
Tuesday 5/31
Kicking off the week for earnings will be HP, Salesforce and Victoria's Secret after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HPQ | HP INC. | 35.43 | +0.77 | +2.22% |
| CRM | SALESFORCE INC. | 329.99 | -0.02 | -0.01% |
| VSCO | VICTORIA'S SECRET & CO. | 38.84 | +0.85 | +2.24% |
Investors will also take in the Case-Shiller home price index, the Federal Housing Finance Agency's monthly home price index and consumer confidence.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABNB | AIRBNB INC. | 138.37 | -1.30 | -0.93% |
Also on Tuesday, Airbnb will end COVID-related refunds.
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Wednesday 6/1
The earnings parade will continue Tuesday with Capri Holdings and Hovnanian reporting before the market open and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp delivering results after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CPRI | CAPRI HOLDINGS LTD. | 23.54 | +0.72 | +3.16% |
| HOV | HOVNANIAN ENTERPRISES | 190.50 | -2.35 | -1.22% |
| CHWY | CHEWY INC. | 33.33 | -0.72 | -2.11% |
| GME | GAMESTOP CORP. | 30.87 | +0.55 | +1.81% |
| HPE | HEWLETT PACKARD ENTERPRISE CO. | 20.81 | -1.30 | -5.88% |
| NTAP | NETAPP INC. | 122.43 | -7.17 | -5.53% |
| PVH | PVH CORP. | 106.85 | -0.74 | -0.69% |
On the economic data front, investors will digest the Federal Reserve's Beige Book, construction spending, vehicle sales, the ISM manufacturing PMI and weekly mortgage applications. The Federal Reserve is also expected to start reducing its balance sheet.
In addition, New York Fed President John Williams will deliver opening remarks before the bank and the Columbia University School of International and Public Affairs' Monetary Policy Implementation and Digital Innovation workshop.
St. Louis Fed President James Bullard will also give a presentation on the U.S. economy and monetary policy before a hybrid Economic Club of Memphis event.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RBAC | NO DATA AVAILABLE | - | - | - |
| ORCL | ORACLE CORP. | 184.84 | +2.14 | +1.17% |
| CERN | NO DATA AVAILABLE | - | - | - |
Other notable events include a shareholder vote on SeatGeek's $1.35 billion merger with special purpose acquisition company RedBall, the end of the Russian central bank's ban on short selling, a decision from the European Commission on Oracle's $23.8 billion acquisition of Cerner and the Bank of Canada's decision on interest rates.
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Thursday 6/2
Wrapping up the week for earnings will be Designer Brands, Duluth Holdings, Hormel Foods, Lands’ End and Toro before the market open and Broadcom, Cooper Companies, CrowdStrike Holdings, lululemon athletica and Okta after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DBI | DESIGNER BRANDS INC. | 4.96 | -0.08 | -1.59% |
| DLTH | DULUTH HOLDINGS INC | 3.83 | -0.06 | -1.54% |
| HRL | HORMEL FOODS CORP. | 32.43 | +0.51 | +1.60% |
| LE | LANDS END | 15.95 | +0.51 | +3.30% |
| TTC | THE TORO CO. | 87.08 | +0.20 | +0.23% |
| AVGO | BROADCOM INC. | 162.08 | +2.41 | +1.51% |
| COO | COOPER COMPANIES | 104.46 | +1.03 | +1.00% |
| CRWD | CROWDSTRIKE HOLDINGS INC. | 345.97 | -1.62 | -0.47% |
| LULU | LULULEMON ATHLETICA INC. | 320.66 | +1.14 | +0.36% |
| OKTA | OKTA INC. | 77.56 | +1.14 | +1.49% |
In other market news, Didi Global is expected to formally submit its delisting notice with the Securities and Exchange Commission. Thursday also marks the agency's deadline to decide whether to approve or disapprove a rule change allowing shares of One River Carbon Neutral Bitcoin Trust to be listed on the New York Stock Exchange Arca.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIDI | NO DATA AVAILABLE | - | - | - |
As for economic data, investors will be watching the ADP employment report, factory orders, labor costs, productivity, the latest in initial and continuing jobless claims and the Energy Information Administration's weekly crude stocks.
Cleveland Fed President Loretta Mester will also speak on the economic outlook via video conference before the Philadelphia Council for Business Economics Meeting, and OPEC and non-OPEC members will hold their monthly ministerial meeting related to crude oil production.
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Friday 6/3
Finishing out the week will be the May jobs report and the ISM non-manufacturing PMI.
Friday also marks the deadline for the Biden administration to provide an in-person briefing on its efforts to improve the quality and timeliness of federal critical mineral permitting processes.