Jobs, Walgreens earnings, Blue Origin spaceflight top week ahead
Other earnings on the docket include Chewy.com, Lululemon, Micron Technology, Virgin Orbit and BlackBerry
Jobs will be in focus for the upcoming week with the JOLTS, ADP national employment and March nonfarm payroll reports on deck. Investors will also keep an eye on the ongoing conflict between Russia and Ukraine and the latest incoming data on inflation.
U.S. stocks ended mostly higher Friday after the European Union and the United States unveiled a deal to supply Europe with more U.S. liquefied natural gas to help reduce dependency on Russia. The Dow Jones Industrial Average rose over 153 points or 0.44%, while S&P 500 gained 0.5%. The Nasdaq Composite ended marginally lower. All three of the major averages rose for the week.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
I:DJI | DOW JONES AVERAGES | 44860.31 | +123.74 | +0.28% |
SP500 | S&P 500 | 6021.63 | +34.26 | +0.57% |
I:COMP | NASDAQ COMPOSITE INDEX | 19174.297336 | +119.46 | +0.63% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 3/28
Kicking off the week for earnings will be Jefferies Financial Group before the market open and Dave & Buster's after the bell.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
JEF | JEFFERIES FINANCIAL GROUP INC. | 79.45 | -0.03 | -0.04% |
PLAY | DAVE & BUSTER'S ENTERTAINMENT INC. | 36.08 | -0.22 | -0.61% |
In the world of politics, President Biden will release his 2023 budget plan and host a summit with Southeast Asian leaders at the White House through Tuesday.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
AMZN | AMAZON.COM INC. | 207.86 | +6.41 | +3.18% |
UAL | UNITED AIRLINES HOLDINGS INC. | 96.51 | -0.32 | -0.33% |
Other notable events include a second union vote for Amazon workers in Bessemer, Alabama and United Airlines allowing unvaccinated employees to return to work.
Tuesday 3/29
On Tuesday, earnings will ramp up with McCormick & Co taking the spotlight before the market open, followed by Cal-Maine Foods, Chewy.com, Lululemon, Micron Technology, PVH Corporation and Virgin Orbit after the bell.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
CALM | CAL-MAINE FOODS INC. | 96.62 | +0.13 | +0.13% |
LULU | LULULEMON ATHLETICA INC. | 318.84 | -7.88 | -2.41% |
CHWY | CHEWY INC. | 34.05 | -0.57 | -1.65% |
MU | MICRON TECHNOLOGY INC. | 101.80 | -2.68 | -2.57% |
PVH | PVH CORP. | 107.59 | -0.14 | -0.13% |
VORB | NO DATA AVAILABLE | - | - | - |
Investors will also take in home price data from Case-Shiller and the Federal Housing Finance Agency, consumer confidence and the JOLTS report.
The Federal Reserve will also make the rounds, with New York Fed President John Williams delivering remarks at the New York Fed Web Series on Culture: "Trust in Banks: Where Are We Now?", Atlanta Fed president Patrick Harker speaking at the Penn Club of New York and Atlanta Fed president Raphael Bostic speaking on "Economic Leadership from America’s Founding to the Global Pandemic" at the University of Southern California’s George Washington Leadership Lecture Series.
In addition, the United Nations' Human Rights Council will discuss the situation in Ukraine and Blue Origin will launch its fourth human suborbital spaceflight from Van Horn, Texas.
Wednesday 3/30
Earnings will be light on Wednesday with BioNTech, Five Below and Paychex all set to deliver results before the market open.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
BNTX | BIONTECH SE | 118.54 | -2.22 | -1.84% |
FIVE | FIVE BELOW INC. | 88.90 | -2.71 | -2.96% |
PAYX | PAYCHEX INC. | 146.19 | +0.93 | +0.64% |
Economic data will continue on Wednesday with the ADP national employment report, corporate profits, the final revision on fourth quarter GDP, weekly mortgage applications and the Energy Information Administration's weekly crude stocks. Richmond Fed president Thomas Barkin will also give open remarks virtually to the bank's hybrid Investing in Rural America Conference.
Other notable events include a hearing on an $83 million settlement for victims of the Surfside building collapse, the return of NASA astronaut Mark Vande Hei from the International Space Station, Samsung's Unbox & Discover event, the launch of Intel's first Arc graphics processing unit and a House nutrition, oversight, and department operations subcommittee hearing on "A 2022 Review of the Farm Bill: Stakeholder Perspectives on SNAP".
Thursday 3/31
Earnings for the week will wrap up on Wednesday with Walgreens Boots Alliance before the market open and BlackBerry after the bell.
Ticker | Security | Last | Change | Change % |
---|---|---|---|---|
WBA | WALGREENS BOOTS ALLIANCE INC. | 8.73 | -0.33 | -3.64% |
BB | BLACKBERRY LTD. | 2.57 | 0.00 | 0.00% |
Meanwhile, economic data on the docket for Thursday includes initial and continuing jobless claims, personal income, consumer spending, the personal consumption expenditures price index and the Chicago PMI. New York Fed president John Williams will also deliver opening remarks before the bank's hybrid "The Future of New York City: Charting an Equitable Recovery for All" event.
On Capitol Hill, the House will hold a hearing on the state of the Commodity Futures Trading Commission and the Senate will hold a hearing on the opportunities and challenges facing domestic critical mineral mining, processing, refining, and reprocessing. Elsewhere, OPEC and OPEC+ will hold their monthly meeting on oil production and T-Mobile-owned Sprint will sunset its 3G service.
Friday 4/1
Finishing out the week will be the March jobs report, vehicle sales, construction spending, the Markit manufacturing PMI and the ISM manufacturing index. Chicago Fed president Charles Evans will also speak at Prairie State College Foundation's Economic Forecast Breakfast.
In addition, the Internal Revenue Service will raise interest rates on over- and under payments and Norwegian Cruise Line will increase its daily service charges for guests staying aboard its ships.