Thanksgiving, Black Friday, retail earnings, and FTX's fallout top week ahead
Urban Outfitters, American Eagle, Nordstrom, and Zoom earnings ahead
November CPI, December Fed meeting to determine market performance for rest of year: Ben Levisohn
'Barron's Roundtable' panelists Ben Levisohn, Carleton English, and Jack Hough, discuss the stock market reacting to the Federal Reserve, a jump in chip stocks, the collapse of FTX and its impact on the cryptocurrency industry
Investors are heading into a busy but short holiday week after stocks ended on a positive note.
The Nasdaq, S&P 500, and Dow Jones Industrial Average finished Friday marginally higher but still remain in the red for the calendar year. Financial markets are closed Thanksgiving Thursday and will be followed by a shortened trading session Friday with a 1 pm ET close.
| 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% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
THANKSGIVING TURKEY PRICES WILL HIT A RECORD THIS YEAR, NYC GROCERY CHAIN CEO WARNS
Monday 11/14
JM Smuckers will report earnings before markets open, giving insight into how inflation is affecting its name-brand food prices.
J.M. Smucker Co. Jif brand peanut butter is displayed for sale at a Costco Wholesale Corp. store in Louisville, Kentucky, U.S., on Wednesday, May 29, 2019. (Luke Sharrett/Bloomberg via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SJM | THE J. M. SMUCKER CO. | 113.91 | +1.86 | +1.66% |
After the bell investors will be watching earnings for Dell for its insight into PC demand, Urban Outfitters and Zoom which will offer clues into the tug of war between bosses and employees over the continuance of remote work.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DELL | DELL TECHNOLOGIES INC. | 138.92 | +4.96 | +3.70% |
| URBN | URBAN OUTFITTERS INC. | 37.36 | +0.45 | +1.22% |
| ZM | ZOOM VIDEO COMMUNICATIONS INC. | 81.20 | +2.34 | +2.97% |
(AP Photo/Mark Lennihan, File)
Tuesday 11/15
Investors will continue to monitor the fallout from crypto trading firm FTX and its founder Sam Bankman-Fried. Tuesday will mark the first legal proceeding on the case in Delaware.
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange. (Photographer: Sarah Silbiger/Bloomberg via Getty Images / Getty Images)
It is also a big day for clothing retailers, with Abercrombie & Fitch, American Eagle Outfitters, and Burlington reporting earnings before the bell, and Nordstrom after.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ANF | ABERCROMBIE & FITCH CO. | 141.56 | +4.74 | +3.46% |
| AEO | AMERICAN EAGLE OUTFITTERS INC. | 17.23 | -0.05 | -0.29% |
| BURL | BURLINGTON STORES | 272.87 | +4.02 | +1.50% |
| JWN | NORDSTROM INC. | 22.36 | +0.10 | +0.47% |
Dollar Tree, who's rival Dollar General recently got into trouble for charging more at the register than the prices displayed on shelves, is also reporting before the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DLTR | DOLLAR TREE INC. | 65.76 | +2.58 | +4.08% |
GAS PRICES DIP, COULD DROP MORE AHEAD OF THANKSGIVING WEEK: AAA
Wednesday 11/16
Wednesday the maker of John Deere tractors, Deere & Co, will report before the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DE | DEERE & CO. | 437.68 | +32.57 | +8.04% |
The Federal Reserve will also release the minutes from its October meeting which will hold more clues on the pace and size of future rate hikes.
Federal Reserve Chairman Jerome Powell (AP Photo/Manuel Balce Ceneta / AP Newsroom)
In other economic news, investors will take in mortgage applications, building permits, durable goods, initial jobless claims, Unniversity of Michigan consumer sentiment index, new home sales, and the Energy Information Administration's weekly crude stocks.
Thursday 11/3
Financial markets are closed on Thanksgiving Thursday which will bring the annual Macy's Day parade in New York City.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| M | MACY'S INC. | 15.07 | +0.51 | +3.50% |
The Astronaut Snoopy balloon flies during the 95th Macy's Thanksgiving Day Parade in Manhattan, New York City, Nov. 25, 2021. REUTERS/Brendan McDermid (REUTERS/Brendan McDermid / Reuters Photos)
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Friday 11/18
On Friday investors will be monitoring retail stocks as the holiday shopping season kicks into high gear.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 121.59 | -0.14 | -0.12% |
| WMT | WALMART INC. | 88.38 | +1.19 | +1.36% |
Walmart and Target are among the stores that have already began sales earlier in the month with more deals expected.
The New York Stock Exchange will have an early close Friday at 1pm ET.