Tesla earnings, Tax Day, Fed's Beige Book top week ahead
Investors will also have their first chance to react to Twitter's 'poison pill' against Elon Musk
Charles Payne: Can earnings turn this market around?
Gary B. Smith and Quincy Krosby provide insight on record inflation's impact on the stock market on 'Making Money.'
After enjoying the holiday weekend, investors are in for another busy week with a slew of big name earnings and key housing data on the docket.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
On Monday, investors will also have their first chance to react to news over the weekend that Twitter has adopted a limited duration shareholder rights plan, commonly referred to as a ‘poison pill’ as it looks to prevent a takeover by Tesla CEO Elon Musk, who has offered to take the social media giant private for $54.20 per share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TWTR | NO DATA AVAILABLE | - | - | - |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 4/18
Kicking off the week for earnings will be Bank of America, Bank of New York Mellon, Charles Schwab and Synchrony Financial before the market open and JB Hunt Transportation Services after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 46.45 | +0.39 | +0.85% |
| BK | THE BANK OF NEW YORK MELLON CORP. | 78.88 | +1.01 | +1.30% |
| SCHW | THE CHARLES SCHWAB CORP. | 80.80 | +0.34 | +0.42% |
| SYF | SYNCHRONY FINANCIAL | 65.14 | +0.74 | +1.15% |
| JBHT | J.B. HUNT TRANSPORT SERVICES INC. | 181.57 | -0.01 | -0.01% |
Meanwhile, the NAHB housing market index will be in focus for economic data on Monday. St. Louis Fed president James Bullard will also speak on the U.S. economy and monetary policy before the Council on Foreign Relations' virtual C. Peter McColough Series on International Economics.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 955.65 | +27.57 | +2.97% |
| DIS | THE WALT DISNEY CO. | 114.70 | +0.43 | +0.38% |
| TGT | TARGET CORP. | 121.59 | -0.14 | -0.12% |
Monday marks the federal deadline for most Americans to file their taxes and the final day to make an IRA contribution.
In addition, Costco will end special operating hours for seniors, healthcare workers and first responders, American Airlines will resume on-board liquor sales and Disney will bring back character meet and greets at its theme parks. Target will start its annual car seat trade-in program, which runs through April 30, and the International Monetary Fund and World Bank will begin their 2022 spring meetings, which run through April 24.
Tuesday 4/19
The earnings parade will continue on Tuesday with Hasbro, Johnson & Johnson and Lockheed Martin before the market open and IBM, Interactive Brokers Group and Netflix after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HAS | HASBRO INC. | 61.91 | +0.06 | +0.10% |
| JNJ | JOHNSON & JOHNSON | 155.48 | +2.38 | +1.56% |
| LMT | LOCKHEED MARTIN CORP. | 542.34 | +7.45 | +1.39% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 222.34 | +7.73 | +3.60% |
| IBKR | INTERACTIVE BROKERS GROUP INC. | 191.71 | +3.85 | +2.05% |
| NFLX | NETFLIX INC. | 897.48 | +13.63 | +1.54% |
As for economic data, investors will be watching building permits and housing starts. Chicago Fed president Charles Evans will also speak before the Economic Club of New York on current economic events and monetary policy.
Wednesday 4/20
Leading Wednesday's earnings will be Abbott Labs, Anthem, M&T Bank, Nasdaq Inc. and Procter & Gamble before the market open and Alcoa, Equifax, Sleep Number, Tenet Healthcare, Tesla and United Airlines.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABT | ABBOTT LABORATORIES | 117.26 | +1.33 | +1.15% |
| ANTM | NO DATA AVAILABLE | - | - | - |
| MTB | M&T BANK CORP. | 216.62 | +3.10 | +1.45% |
| NDAQ | NASDAQ INC. | 80.88 | +0.80 | +1.00% |
| PG | PROCTER & GAMBLE CO. | 172.78 | +1.86 | +1.09% |
| TSLA | TESLA INC. | 339.64 | -2.39 | -0.70% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 94.40 | -0.23 | -0.24% |
Economic data on the docket for Wednesday will be the Federal Reserve's Beige Book, existing home sales, weekly mortgage applications and the Energy Information Administration's weekly crude stocks.
Chicago Fed president Charles Evans will speak in person at the Peterson Institute for International Economics Macro Week 2022 on current economic events and monetary and San Francisco Fed President will speak before the Center for Business and Economic Research "CBER Mid-Year Outlook".
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FB | NO DATA AVAILABLE | - | - | - |
| AMD | ADVANCED MICRO DEVICES INC. | 137.49 | -0.11 | -0.08% |
Also on Wednesday, Meta Platforms is expected to make an announcement about its Oculus Quest 2 Pro headset during the Quest Gaming showcase. AMD will also release its fastest-ever gaming chip.
In addition, Bob Marley's son Rohan will launch a CBD brand, South Carolina Republican Congresswoman Nancy Mace will speak at the Benzinga Cannabis Capital Conference and the House Financial Services Committee will hold a hearing on improving fire safety in federally assisted housing.
Thursday 4/21
Thursday will mark the busiest day for earnings with Alaska Air Group, American Airlines, AT&T, AutoNation, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting before the market open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALK | ALASKA AIR GROUP INC. | 52.30 | -0.84 | -1.58% |
| AAL | AMERICAN AIRLINES GROUP INC. | 14.20 | -0.26 | -1.80% |
| T | AT&T INC. | 22.98 | +0.15 | +0.68% |
| AN | AUTONATION INC. | 170.05 | +5.20 | +3.15% |
| BX | BLACKSTONE INC. | 194.01 | +8.98 | +4.85% |
| DHR | DANAHER CORP. | 235.00 | +1.84 | +0.79% |
| PM | PHILIP MORRIS INTERNATIONAL INC. | 131.22 | +0.84 | +0.64% |
| DGX | QUEST DIAGNOSTICS INC. | 163.89 | +2.57 | +1.59% |
| UNP | UNION PACIFIC CORP. | 239.02 | +5.46 | +2.34% |
Meanwhile, Snap and PPG Industries will be among the companies taking the earnings spotlight after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SNAP | SNAP INC. | 10.64 | +0.04 | +0.38% |
| PPG | PPG INDUSTRIES INC. | 122.68 | +1.39 | +1.15% |
Economic data on Thursday will include the Conference Board's index of leading economic indicators and the latest in initial and continuing jobless claims. Other notable events include the launches of Fidelity's new crypto and metaverse ETFs and SpaceX's Crew-4 mission.
Friday 4/22
Wrapping up the week will be earnings from American Express, Kimberly-Clark, Schlumberger and Verizon before the market open. Investors will also take in the S&P Global flash Markit manufacturing and services PMIs.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AXP | AMERICAN EXPRESS CO. | 292.93 | +5.28 | +1.84% |
| KMB | KIMBERLY-CLARK CORP. | 137.03 | +0.66 | +0.48% |
| SLB | SCHLUMBERGER LTD. | 44.06 | +0.52 | +1.19% |
| VZ | VERIZON COMMUNICATIONS INC. | 42.51 | +0.28 | +0.68% |
In addition, Walmart will permanently close stores in Louisville, Kentucky and Forest Park, Ohio and Lululemon will expand its trade-in and resale program to all of its stores in the United States.