Tesla, Netflix earnings and Apple’s India debut top week ahead
Apple opens its first India stores, Charles Schwab hosts its investor day
Investors will see a 'tough and very volatile' year, says Ida Liu
Citi Private Bank Global Head Ida Liu provides her outlook for global growth, the impact of digitization on investors as well as U.S.- China tensions.
Investors head into a busy week as earnings season continues with tech and bank companies on the docket. Additionally, Apple is set to make a big splash in India.
The stock market notched weekly gains, led by the Dow Jones Industrial Average, while the S&P 500 and Nasdaq Composite posted smaller increases.
DJIA
FOX Business takes a look at what will likely be the biggest market moving events in the coming days.
Monday, April 17
Charles Schwab will host its highly anticipated investor day on Monday. The firm was one of the hardest hit amid the banking turmoil last month. Schwab was able to take in $53 billion in new core client assets in March, the second-highest result for that month in its history as the dust settled.
Charles Schwab
Additionally, House Speaker Kevin McCarthy, R-Calif., will speak on the economy and government spending at the New York Stock Exchange Monday morning.
House Speaker Kevin McCarthy during a news conference in Statuary Hall at the Capitol in Washington, Jan. 12, 2023. (Jose Luis Magana / AP Newsroom)
In earnings, M&T Bank and State Street will report before the bell with JB Hunt Transport Services reporting after markets close.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MTB | M&T BANK CORP. | 221.12 | +4.50 | +2.08% |
| STT | STATE STREET CORP. | 97.50 | +1.16 | +1.20% |
| JBHT | J.B. HUNT TRANSPORT SERVICES INC. | 182.40 | +0.83 | +0.46% |
In economic data news, the NY Fed manufacturing index will be released at 8:30 a.m., followed by the National Association of Homebuilders index at 10 a.m.
In corporate news, ride-hailing company Lyft has a new CEO, David Risher, who officially begins his new role with the task of taking on Uber.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LYFT | LYFT INC. | 16.79 | +0.50 | +3.07% |
| UBER | UBER TECHNOLOGIES INC. | 71.51 | +1.87 | +2.69% |
New Lyft CEO David Risher reveals his plan to win back ridership from Uber
Lyft incoming CEO David Risher discusses the changes he will make to turn the company's stock around on 'The Claman Countdown.'
Tuesday, April 18: Tax Day
It's Tax Day – the final day to file your returns.
Signet Jewelers will hold its investor day at the New York Stock Exchange, providing stakeholders with updates on the company's financial performance and strategic direction.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SIG | SIGNET JEWELERS LTD. | 102.60 | +2.43 | +2.43% |
Elon Musk will be interviewed at the POSSIBLE conference in Miami, where he will discuss Twitter 2.0 and its role in the advertising industry.
Elon Musk in San Francisco on Jan. 24, 2023. (Marlena Sloss/Bloomberg via / Getty Images)
JAMIE DIMON ADVISES AGAINST USING TERM 'CREDIT CRUNCH'
Apple will open its first retail store in Mumbai, India, with CEO Tim Cook expected to attend. A second store in New Delhi will be open later in the week. The tech giant is pushing into the country that may have growth opportunities similar to China.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 229.87 | +1.35 | +0.59% |
In earnings, Bank of America, Bank of New York Mellon, Goldman Sachs, Johnson & Johnson, and Lockheed Martin, report before markets open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 47.00 | +0.54 | +1.16% |
| BK | THE BANK OF NEW YORK MELLON CORP. | 80.14 | +1.26 | +1.60% |
| GS | THE GOLDMAN SACHS GROUP INC. | 602.78 | +6.67 | +1.12% |
| JNJ | JOHNSON & JOHNSON | 155.17 | -0.33 | -0.21% |
| LMT | LOCKHEED MARTIN CORP. | 542.22 | +0.21 | +0.04% |
Interactive Brokers Group, Netflix, Omnicom Group and United Airlines will release after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IBKR | INTERACTIVE BROKERS GROUP INC. | 191.62 | -0.09 | -0.05% |
| NFLX | NETFLIX INC. | 897.79 | +0.31 | +0.03% |
| OMC | OMNICOM GROUP INC. | 102.38 | +0.44 | +0.43% |
| UAL | UNITED AIRLINES HOLDINGS INC. | 95.24 | +0.84 | +0.89% |
In economic news, data on building permits and housing starts will be released, providing insight into the state of the U.S. housing market. In China, first quarter GDP is set to be released on Tuesday, giving investors and economists insight into the world's second-largest economy.
Lastly, Gary Gensler, the chair of the Securities and Exchange Commission, will testify at a House Financial Services hearing on oversight. The hearing is expected to address the SEC's regulatory priorities and recent market volatility. He may also be pressed on cryptocurrency regulation. Bitcoin has recovered this year, topping the $30,000 level.
Wednesday, April 19
Federal Reserve Bank of New York President John Williams is scheduled to speak before the Money Marketeers of New York University at 7 p.m.
John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, Nov. 6, 2019. (Reuters/Carlo Allegri/File) (Reuters Photos)
Before the market opens, Abbott Labs, Ally Financial, Citizens Financial Group, Morgan Stanley and US Bancorp will report earnings.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ABT | ABBOTT LABORATORIES | 117.76 | +0.50 | +0.43% |
| ALLY | ALLY FINANCIAL INC. | 37.85 | +0.66 | +1.77% |
| CFG | CITIZENS FINANCIAL GROUP INC. (RHODE ISLAND) | 47.65 | +0.88 | +1.88% |
| MS | MORGAN STANLEY | 134.69 | -0.30 | -0.22% |
| USB | U.S. BANCORP | 52.49 | +1.10 | +2.14% |
After the bell earnings will include Discover Financial, Equifax, IBM and Tesla.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DFS | DISCOVER FINANCIAL SERVICES | 179.29 | +4.38 | +2.50% |
| EFX | EQUIFAX INC. | 253.58 | +1.07 | +0.42% |
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 222.97 | +0.57 | +0.26% |
| TSLA | TESLA INC. | 352.56 | +12.92 | +3.80% |
Thursday, April 20
Lots of Fed speak on Thursday with the Federal Reserve's Cleveland President Loretta Mester, Atlanta President Raphael Bostic and Philadelphia President Patrick Harker all set to deliver separate speeches, which may provide clues into future rate hikes as well as the state of the U.S. economy.
As for earnings, Alaska Air Group, American Express, Blackstone and Philip Morris are among those reporting in the morning.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ALK | ALASKA AIR GROUP INC. | 52.42 | +0.12 | +0.23% |
| AXP | AMERICAN EXPRESS CO. | 301.30 | +8.30 | +2.83% |
| BX | BLACKSTONE INC. | 199.05 | +5.04 | +2.60% |
| PM | PHILIP MORRIS INTERNATIONAL INC. | 129.99 | -1.22 | -0.93% |
While, CSX, Knight-Swift Transportation, and PPG Industries are among those reporting after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CSX | CSX CORP. | 35.78 | +0.44 | +1.25% |
| KNX | KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. | 57.62 | +1.41 | +2.51% |
| PPG | PPG INDUSTRIES INC. | 122.65 | -0.03 | -0.02% |
In terms of economic data, the day will see the release of a number of indicators, including initial jobless claims, Philly Fed business index, existing home sales, and the Conference Board's index of leading economic indicators.
Friday, April 21
Crypto exchange Coinbase has until today to respond to a Wells notice issued by the SEC that outlines potential charges related to the crypto exchange's planned lending product.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC. | 304.64 | +9.41 | +3.19% |
CRYPTO INVESTORS FACE DELAYS IN WITHDRAWING FUNDS AFTER ETHEREUM UPGRADE
In earnings news, Freeport-McMoRan, HCA Healthcare, Procter & Gamble and Regions Financial will report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FCX | FREEPORT-MCMORAN INC. | 43.72 | -0.04 | -0.09% |
| HCA | HCA HEALTHCARE INC. | 324.93 | -7.31 | -2.20% |
| PG | PROCTER & GAMBLE CO. | 176.28 | +3.53 | +2.04% |
| RF | REGIONS FINANCIAL CORP. | 27.28 | +0.54 | +2.02% |
CLICK HERE TO GET THE FOX BUSINESS APP
On the economic data front, S&P Global will release its manufacturing and services PMI flash readings for April at 9:45 a.m. These figures are closely watched as indicators of the health of the U.S. economy, with readings above 50 indicating expansion and those below indicating contraction.
Jessica MacKenzie contributed to this story.