FOX Business host Charles Payne provides insight on investing in the stock market during record-high inflation on ‘Making Money.’
Investors are gearing up for another wave of corporate earnings and economic data. In addition, Wall Street will be watching for developments from a key shareholder vote in JetBlue Airways’ proposed merger with Spirit Airlines.
On Friday, U.S. stocks closed out a wild week with losses for all three of the major benchmarks. For the week, the Dow Jones Industrial Average posted a gain of 1.3%, while the S&P 500 and Nasdaq Composite retreated by 1.5% and 3%, respectively.
Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 29634.83 -403.89 -1.34%SP500 S&P 500 3583.07 -86.84 -2.37%I:COMP NASDAQ COMPOSITE INDEX 10321.388223 -327.76 -3.08%
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
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Kicking off the week will be earnings from Bank of America, Bank of New York Mellon and Charles Schwab before the market open.
Ticker Security Last Change Change % BAC BANK OF AMERICA CORP. 31.75 +0.07 +0.22%BK THE BANK OF NEW YORK MELLON CORP. 38.41 -0.80 -2.04%SCHW THE CHARLES SCHWAB CORP. 69.06 -4.98 -6.73%
As for economic data, investors will be focused on the Empire State manufacturing index.
Ticker Security Last Change Change % WMT WALMART INC. 130.43 -1.85 -1.40%WBA WALGREENS BOOTS ALLIANCE INC. 33.24 -0.41 -1.22%
Other notable events include the deadline for 19 million Americans who asked for extensions to file their income taxes, Walmart and Walgreens selling over-the-counter hearing aids and Sam’s Club raising its Club membership fees for the first time in nine years and Plus membership fees for the first time since its introduction in 1999.
Earnings will ramp up on Tuesday with Albertsons, Goldman Sachs, Hasbro, Johnson & Johnson and State Street Corp. before the market open.
Ticker Security Last Change Change % ACI ALBERTSONS COMPANIES 26.21 -2.42 -8.45%GS THE GOLDMAN SACHS GROUP INC. 300.36 -7.06 -2.30%HAS HASBRO INC. 66.60 -1.49 -2.19%JNJ JOHNSON & JOHNSON 164.46 -0.69 -0.42%STT STATE STREET CORP. 61.12 -2.36 -3.72%
Big names taking the spotlight after the bell include Netflix, United Airlines JB Hunt Transportation Services and Interactive Brokers Group.
Ticker Security Last Change Change % NFLX NETFLIX INC. 230.00 -2.51 -1.08%UAL UNITED AIRLINES HOLDINGS INC. 35.47 +0.07 +0.20%JBHT J.B. HUNT TRANSPORT SERVICES INC. 163.20 -3.02 -1.82%IBKR INTERACTIVE BROKERS GROUP INC. 68.42 -2.23 -3.16%
On the economic data front, investors will take in industrial production and the National Association of Homebuilders’ housing market index. Minneapolis Fed president Neel Kashkari participates in a panel on the economy and question-and-answer session before the Women Corporate Directors Minnesota Chapter.
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Abbott Labs, Ally Financial, M&T Bank, Procter & Gamble and Winnebago will be among the companies delivering quarterly earnings results before the market open on Wednesday.
Ticker Security Last Change Change % ABT ABBOTT LABORATORIES 101.05 -1.40 -1.37%ALLY ALLY FINANCIAL INC. 29.25 -0.92 -3.05%MTB M&T BANK CORP. 185.56 -1.68 -0.90%PG PROCTER & GAMBLE CO. 125.08 -1.23 -0.97%WGO WINNEBAGO INDUSTRIES INC. 55.95 -1.03 -1.81%
Meanwhile, IBM, Tesla, Alcoa, Equifax, and WD-40 will be among the companies in focus after the bell.
Ticker Security Last Change Change % IBM INTERNATIONAL BUSINESS MACHINES CORP. 120.04 -1.75 -1.44%TSLA TESLA INC. 204.99 -16.73 -7.55%AA ALCOA CORP. 38.35 -2.53 -6.19%EFX EQUIFAX INC. 159.23 -5.70 -3.46%WDFC WD-40 CO. 169.07 -3.65 -2.11%
Wednesday’s economic data will include housing starts and building permits, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.
In addition, Minneapolis Fed president Neel Kashkari will participate in a question-and-answer session on “Inflation, Interest Rates and the State of the U.S. Economy” before a Travelers Institute Employee Town Hall and Chicago Fed president Charles Evans will participate in a moderated question-and-answer session on current economic conditions and monetary policy hosted by the Jefferson Scholars Foundation.
Ticker Security Last Change Change % JBLU JETBLUE AIRWAYS CORP. 6.67 0.00 0.00%SAVE SPIRIT AIRLINES INC. 19.43 -0.22 -1.12%
Spirit Airlines shareholders will also vote on JetBlue Airways’ $3.8 billion acquisition of the airline agreed to in July. JetBlue and Spirit expect to conclude the regulatory process and close the transaction no later that the first half of 2024.
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The earnings parade will continue on Thursday with American Airlines, AT&T, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting before the market open.
Ticker Security Last Change Change % AAL AMERICAN AIRLINES GROUP INC. 13.11 +0.06 +0.46%T AT&T INC. 15.01 -0.10 -0.66%BX BLACKSTONE 84.16 -2.21 -2.55%DHR DANAHER CORP. 253.71 -3.56 -1.38%PM PHILIP MORRIS INTERNATIONAL INC. 85.33 -1.92 -2.20%DGX QUEST DIAGNOSTICS INC. 126.11 +0.40 +0.32%UNP UNION PACIFIC CORP. 193.79 -2.95 -1.50%
Meanwhile, Snap Inc, Whirlpool, Boston Beer and Tenet Healthcare will be among the companies leading earnings after the bell.
Ticker Security Last Change Change % SNAP SNAP INC. 9.99 -0.59 -5.58%WHR WHIRLPOOL CORP. 139.21 -4.12 -2.87%SAM BOSTON BEER CO. INC. 350.97 -20.11 -5.42%THC TENET HEALTHCARE CORP. 52.06 -2.01 -3.72%
Economic data on the docket for Thursday will include existing home sales, the Philadelphia Fed manufacturing index, the Conference Board’s index of leading economic indicators and the latest in initial and continuing jobless claims. Philadelphia Fed president Patrick Harker will also speak about the economic outlook before the Greater Vineland Chamber of Commerce.
Wrapping up the week will be earnings from American Express, HCA Healthcare, Huntington Bancshares, Regions Financial, Schlumberger and Verizon before the market open on Friday.
Ticker Security Last Change Change % AXP AMERICAN EXPRESS CO. 137.13 -4.46 -3.15%HCA HCA HEALTHCARE INC. 201.47 -4.53 -2.20%RF REGIONS FINANCIAL CORP. 20.68 -0.20 -0.96%SLB SCHLUMBERGER NV 42.17 -2.01 -4.55%VZ VERIZON COMMUNICATIONS INC. 36.38 -0.02 -0.04%
New York Fed president John Williams will also deliver opening remarks before the “Skilling the Gap: Building Local Talent for In-Demand Careers” event organized by Berkshire Taconic Community Foundation, Columbia-Greene Community College and the Colubmia and Green County Economic Development Commissions.