July jobs report, GM, CVS earnings and infrastructure talks top week ahead
Ferrari, CVS Health, Moderna, Activision Blizzard, General Motors, Kraft Heinz, Roku, Lyft, Uber, and Virgin Galactic are all set to report earnings
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.
Jobs will be in focus this upcoming week as investors will take in data including ADP employment and nonfarm payrolls for the month of July.
Additionally, investors will keep a close eye on the latest developments on infrastructure talks over the $1 trillion plan.
And a slew of companies will also report earnings including CVS Health, Moderna and General Motors to name a few.
| 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% |
This as the Dow Jones Industrial Average and S&P 500 are sitting near record highs.
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 8/2
Kicking off earnings on Monday before the opening bell will be luxury automaker Ferrari, followed by a slew of earnings after the bell including Columbia Sportswear, Diamondback Energy, Freshpet, NXP Semiconductors, Simon Property Group, Take-Two Interactive, and Williams Companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| RACE | FERRARI NV | 437.62 | +8.11 | +1.89% |
| COLM | COLUMBIA SPORTSWEAR | 83.48 | +2.49 | +3.07% |
| FANG | DIAMONDBACK ENERGY INC. | 185.29 | +2.59 | +1.42% |
| FRPT | FRESHPET | 156.76 | +0.19 | +0.12% |
| NXPI | NXP SEMICONDUCTORS NV | 226.38 | +1.81 | +0.81% |
| SPG | SIMON PROPERTY GROUP INC. | 181.10 | -0.70 | -0.39% |
| TTWO | TAKE-TWO INTERACTIVE SOFTWARE INC. | 188.15 | +1.57 | +0.84% |
| WMB | THE WILLIAMS COS. INC. | 59.63 | -0.10 | -0.18% |
Meanwhile, construction spending and the Institute of Supply Management's manufacturing purchasing manager's index will jumpstart the week for economic data.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LB | LANDBRIDGE CO. LLC | 77.46 | +10.01 | +14.84% |
| BBWI | BATH & BODY WORKS INC. | 30.71 | +0.16 | +0.54% |
Another stock in focus will be L Brands, whose stock symbol will officially change its name to Bath & Body Works, Inc. The stock, which currently trades under the ticker symbol LB, will begin trading under the ticker symbol BBWI on Monday.
Victoria's Secret will separate from the company, becoming its own publicly traded entity. The separation will be achieved through distribution of 100% of the shares of Victoria's Secret to holders of L Brands common stock, which is expected to be completed after market's close on Tuesday. L Brands stockholders will receive one share of Victoria’s Secret common stock for every three shares of L Brands common stock held at the close of business as of July 22.
Following the distribution of Victoria’s Secret’s common stock, the lingerie giant will begin trading on Tuesday under the ticker symbol VSCO.
Tuesday 8/3
The earnings parade will continue on Tuesday with major names including Blue Apron, Clorox, ConocoPhillips, Discovery, Eli Lilly, Marriott International, Ralph Lauren, Under Armour, and Warner Music Group set to report before the market's open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| APRN | NO DATA AVAILABLE | - | - | - |
| CLX | THE CLOROX CO. | 169.35 | +0.18 | +0.11% |
| COP | CONOCOPHILLIPS | 111.73 | -0.15 | -0.13% |
| DISCA | NO DATA AVAILABLE | - | - | - |
| LLY | ELI LILLY & CO. | 747.79 | -1.80 | -0.24% |
| MAR | MARRIOTT INTERNATIONAL INC. | 284.29 | +0.85 | +0.30% |
| RL | RALPH LAUREN CORP. | 212.22 | +5.13 | +2.48% |
| WMG | WARNER MUSIC GROUP CORP. | 31.85 | +0.67 | +2.15% |
Taking the spotlight after the closing bell will be Activision Blizzard, Caesars Entertainment, Denny's, Hyatt Hotels, Live Nation Entertainment, Lyft and Match Group, among others.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ATVI | NO DATA AVAILABLE | - | - | - |
| CZR | CAESARS ENTERTAINMENT INC. | 37.60 | +0.04 | +0.11% |
| DENN | DENNY'S CORP. | 6.25 | -0.14 | -2.19% |
| H | HYATT HOTELS CORP. | 156.27 | +0.42 | +0.27% |
| LYV | LIVE NATION ENTERTAINMENT INC. | 140.22 | +1.65 | +1.19% |
| LYFT | LYFT INC. | 16.79 | +0.50 | +3.07% |
| MTCH | MATCH GROUP INC. | 31.52 | +0.03 | +0.08% |
Economic data to watch on Tuesday will be durable goods and factory orders.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 164.76 | -2.87 | -1.71% |
It will also be a big day for cryptocurrencies as Google begins accepting advertising for cryptocurrency exchanges and digital wallets. Bitcoin, the world's largest cryptocurrency, is trading around $41,000 per coin as of the time of publication, according to prices tracked by Coindesk.
Wednesday 8/4
On Wednesday, investors will take in earnings from big names including AmerisourceBergen, CVS Health, General Motors, Kraft Heinz, Lumber Liquidators, Sinclair Broadcast Group, and Tupperware.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABC | NO DATA AVAILABLE | - | - | - |
| CVS | CVS HEALTH CORP. | 58.01 | +0.91 | +1.59% |
| GM | GENERAL MOTORS CO. | 58.53 | +2.85 | +5.12% |
| KHC | THE KRAFT HEINZ CO. | 31.81 | +0.72 | +2.32% |
| LL | NO DATA AVAILABLE | - | - | - |
| SBGI | SINCLAIR | 17.29 | +0.12 | +0.70% |
| TUP | NO DATA AVAILABLE | - | - | - |
After the bell, Allstate, e.l.f. Beauty, Electronic Arts, Etsy, Fox Corporation, GoDaddy, Hostess Brands, Jack in the Box, MetLife, MGM Resorts, Roku, and Uber will be among the major companies releasing earnings results.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALL | THE ALLSTATE CORP. | 203.73 | +0.29 | +0.14% |
| ELF | E.L.F. BEAUTY INC. | 126.42 | +3.95 | +3.23% |
| EA | ELECTRONIC ARTS INC. | 166.67 | -1.30 | -0.77% |
| ETSY | ETSY INC. | 52.30 | +0.31 | +0.60% |
| FOXA | FOX CORP. | 46.85 | +0.21 | +0.45% |
| GDDY | GODADDY INC. | 196.39 | +3.29 | +1.70% |
| TWNK | NO DATA AVAILABLE | - | - | - |
| JACK | JACK IN THE BOX INC. | 47.50 | -0.30 | -0.63% |
| MET | METLIFE INC. | 86.59 | +1.38 | +1.62% |
| MGM | MGM RESORTS INTERNATIONAL | 37.80 | -0.20 | -0.54% |
| ROKU | ROKU INC. | 69.20 | +0.52 | +0.76% |
| UBER | UBER TECHNOLOGIES INC. | 71.51 | +1.87 | +2.69% |
As for economic data, ADP national employment will be the main event. Other important data includes the ISM's non-manufacturing PMI, weekly mortgage applications and the Energy Information Administration's weekly crude stocks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 27.93 | +0.10 | +0.36% |
| WRI | NO DATA AVAILABLE | - | - | - |
| VSCO | VICTORIA'S SECRET & CO. | 37.09 | +2.12 | +6.06% |
| INT | NO DATA AVAILABLE | - | - | - |
It will also be a big day for meme stock GameStop, which will move into the S&P's MidCap 400 index, replacing Weingarten Realty Investors. Victoria's Secret will also join the index, replacing World Fuel Services. The S&P's MidCap 400 Index serves as a barometer for the U.S. mid-cap equities sector and is the most widely followed mid-cap index.
Thursday 8/5
On Thursday, Cigna, Duke Energy, Hanesbrands, Kellogg, Moderna, Party City, SeaWorld Entertainment, ViacomCBS, and Wayfair will all report before the opening bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CI | THE CIGNA GROUP | 328.45 | -1.62 | -0.49% |
| DUK | DUKE ENERGY CORP. | 114.70 | -0.16 | -0.14% |
| HBI | HANESBRANDS INC. | 8.54 | +0.35 | +4.34% |
| K | KELLANOVA | 81.17 | +0.15 | +0.19% |
| MRNA | MODERNA INC. | 41.11 | +2.86 | +7.48% |
| PRTY | NO DATA AVAILABLE | - | - | - |
| SEAS | NO DATA AVAILABLE | - | - | - |
| VIAC | NO DATA AVAILABLE | - | - | - |
| W | WAYFAIR INC. | 44.03 | +1.40 | +3.28% |
Meanwhile, Dropbox, News Corp, Redfin, Shake Shack, Square, Virgin Galactic, Yelp, and Zillow are among the big names reporting after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DBX | DROPBOX INC. | 27.99 | +0.35 | +1.27% |
| NWSA | NEWS CORP. | 29.49 | -0.05 | -0.17% |
| RDFN | REDFIN CORP. | 9.16 | +1.00 | +12.25% |
| SHAK | SHAKE SHACK | 123.00 | +0.65 | +0.53% |
| SQ | BLOCK INC. | 92.28 | -0.49 | -0.53% |
| SPCE | VIRGIN GALACTIC HOLDINGS INC. | 7.16 | +0.44 | +6.55% |
| YELP | YELP INC. | 36.12 | +0.54 | +1.50% |
| ZG | ZILLOW GROUP INC. | 80.79 | +1.53 | +1.93% |
Grill maker Weber will also be the stock to watch as it begins trading on the New York Stock Exchange under the ticker symbol WEBR. According to its S-1 prospectus, the Palatine, Illinois-based company is selling about 46.9 million shares at an offering of $15 to $17 apiece. At $17 per share, Weber’s valuation could hit nearly $5 billion.
As for economic data, continuing and initial jobless claims, challenger layoffs, and the trade deficit are all on the docket.
President Donald Trump speaks in the East Room of the White House, early Wednesday, Nov. 4, 2020, in Washington. (AP Photo/Evan Vucci)
In the world of politics, former president Donald Trump will headline a fundraiser for New York Republicans at Briarcliff Manor in Westchester, home to the Trump National Golf Club.
According to a copy of an invitation obtained by The Journal News, tickets for the event will start at $1,000 per person, while a ticket including a photo opportunity with Trump runs at approximately $5,000 per couple. Access to the reception plus a roundtable and a photo opportunity reportedly will cost $25,000 per couple.
The event comes as Trump has held multiple campaign rallies in support of GOP candidates and left open the possibility of another presidential run in 2024.
Friday 8/6
Wrapping up the week for earnings will be major players including Cinemark, Dominion Energy, DraftKings, EW Scripps, Goodyear Tire & Rubber, Norwegian Cruise Line, Ruth’s Hospitality group and Spectrum Brands.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CNK | CINEMARK HOLDINGS INC. | 32.62 | +0.38 | +1.18% |
| D | DOMINION ENERGY INC. | 58.14 | -0.21 | -0.37% |
| DKNG | DRAFTKINGS INC. | 43.09 | -0.46 | -1.06% |
| SSP | THE E.W. SCRIPPS CO. | 2.10 | +0.13 | +6.60% |
| GT | GOODYEAR TIRE & RUBBER CO. | 9.71 | +0.42 | +4.52% |
| NCL | NORTHANN CORP. | 0.30 | +0.02 | +6.79% |
| RUTH | NO DATA AVAILABLE | - | - | - |
| SPB | SPECTRUM BRANDS HOLDINGS | 90.47 | +0.17 | +0.19% |
Friday will also mark the most important day for economic data with the release of the July jobs report as well as wholesale inventories, wholesale sales and consumer credit. Analysts polled by Refinitiv are expecting 900,000 new nonfarm jobs to have been added to the U.S. economy last month.