Leuthold Group chief investment strategist Jim Paulsen provides insight on the money supply and inflation on “Making Money.”
A fresh update on consumer prices is on tap for Wall Street this upcoming week. In addition, investors will face another wave of corporate earnings.
U.S. stocks rallied on Friday with the Dow Jones Industrial Average closing up 400 points, or 1.26%. The S&P 500 and Nasdaq Composite ended the session up 1.36% and 1.28%, respectively.
However, all three benchmarks finished down for the week. The Dow snapped a four-week winning streak while the S&P and Nasdaq broke two-week winning streaks.
Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES 32403.22 +401.97 +1.26%SP500 S&P 500 3770.55 +50.66 +1.36%I:COMP NASDAQ COMPOSITE INDEX 10475.25445 +132.31 +1.28%
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
LIVE UPDATES: JOBS DATA STRONG LIFTING STOCKS, MUSK FIRING TWITTER WORKERS
BioNTech, Blue Apron, Choice Hotels, NRG Energy and Palantir Technologies will be among the companies kicking off the week with earnings before the markets open on Monday.
Ticker Security Last Change Change % BNTX BIONTECH SE 154.31 +9.06 +6.24%APRN BLUE APRON HOLDINGS 2.07 -0.09 -4.17%CHH CHOICE HOTELS INTERNATIONAL 128.51 +2.81 +2.24%NRG NRG ENERGY INC. 44.35 +0.72 +1.65%PLTR PALANTIR TECHNOLOGIES INC. 7.93 -0.15 -1.86%
Earnings to watch after the bell will include Activision Blizzard, Diamondback Energy, Groupon, Lyft, SmileDirectClub, Take-Two Interactive, Tripadvisor and Virgin Orbit.
Ticker Security Last Change Change % ATVI ACTIVISION BLIZZARD INC. 71.96 +0.06 +0.08%FANG DIAMONDBACK ENERGY INC. 161.37 +2.84 +1.79%GRPN GROUPON INC. 7.07 +0.23 +3.36%LYFT LYFT INC. 13.74 +0.02 +0.15%SDC SMILEDIRECTCLUB INC. 0.64 -0.02 -3.03%TTWO TAKE-TWO INTERACTIVE SOFTWARE INC. 108.53 -2.77 -2.49%TRIP TRIPADVISOR INC. 23.72 +0.55 +2.37%VORB VIRGIN ORBIT 2.91 -0.01 -0.34%
As for economic data, investors will take in consumer credit.
The Federal Reserve will also make the rounds with Cleveland and Boston Fed presidents Loretta Mester and Susan Collins participating in at moderated discussion before the hybrid Women in Economics Symposium. Richmond Fed president Thomas Barkin will also deliver opening remarks and participate in a panel before the bank’s hybrid “Demystifying Inflation” District Dialogue.
OCTOBER JOBS REPORT SOLID, MAKING FED’S INFLATION FIGHT HARDER
Earnings will ramp up on Tuesday with companies including Coty, E.W. Scripps, Hain Celestial Group, Lordstown Motors, Norwegian Cruise Line, Party City and Planet Fitness delivering results before the market open.
Ticker Security Last Change Change % COTY COTY INC. 6.93 +0.41 +6.37%SSP THE E.W. SCRIPPS CO. 13.40 -0.45 -3.25%HAIN THE HAIN CELESTIAL GROUP INC. 18.89 +0.68 +3.73%RIDE LORDSTOWN MOTORS 1.93 +0.08 +4.32%NCL n.a. n.a. n.a. n.a.PRTY PARTY CITY HOLDCO INC. 1.49 +0.02 +1.36%PLNT PLANET FITNESS INC. 62.62 -1.46 -2.28%
Meanwhile, AMC Entertainment, Angi, GoodRx, Occidental Petroleum and the Walt Disney Company will be among the big names taking the spotlight after the bell.
Ticker Security Last Change Change % AMC AMC ENTERTAINMENT 5.65 -0.05 -0.88%ANGI ANGI INC. 1.93 -0.12 -5.85%GDRX GOODRX HOLDINGS INC. 5.06 +0.16 +3.27%OXY OCCIDENTAL PETROLEUM CORP. 73.27 +1.11 +1.54%DIS THE WALT DISNEY CO. 99.58 +0.38 +0.38%
The NFIB’s business optimism index will be in focus for economic data on Wednesday. Other notable events include the delisting of Twitter’s stock from the New York Stock Exchange and European Union regulators’ deadline to announce a deeper investigation into Microsoft’s acquisition of Activision Blizzard.
Earnings on the docket for Wednesday will include Capri Holdings, D.R. Horton, Hanesbrands, Roblox and Wendy’s before the markets open and Beyond Meat, Redfin, Rivian and ZipRecruiter after the bell.
Ticker Security Last Change Change % CPRI CAPRI HOLDINGS LTD. 47.67 +3.14 +7.05%DHI D.R. HORTON INC. 75.18 +1.55 +2.11%HBI HANESBRANDS INC. 6.98 +0.30 +4.49%RBLX ROBLOX CORP. 40.58 -2.72 -6.28%WEN THE WENDY’S CO. 20.43 +0.08 +0.39%BYND BEYOND MEAT INC. 13.91 -0.45 -3.13%RDFN REDFIN CORP. 4.02 -0.27 -6.29%RIVN RIVIAN AUTOMOTIVE INC. 31.99 -0.25 -0.78%ZIP ZIPRECRUITER 15.61 -0.33 -2.07%
Wednesday’s economic data will include wholesale inventories and sales, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.
New York Fed president John Williams will also deliver keynote remarks before the Swiss National Bank, Federal Reserve Board and Bank for International Settlements’ High Level Conference on Global Risk, Uncertainty and Volatility.
CLICK HERE TO READ MORE ON FOX BUSINESS
Ralph Lauren, Six Flags Entertainment, Tapestry, US Foods, UTZ Brands, Warby Parker and WeWork will all deliver results before the market open on Thursday.
Ticker Security Last Change Change % RL RALPH LAUREN CORP. 95.06 +4.36 +4.81%SIX SIX FLAGS ENTERTAINMENT CORP. 21.20 +0.24 +1.15%TPR TAPESTRY INC. 32.47 +2.42 +8.04%USFD US FOODS HOLDING CORP. 29.27 +0.52 +1.81%UTZ UTZ BRANDS, INC. 16.14 +0.41 +2.61%WRBY WARBY PARKER INC. 14.95 +0.32 +2.19%WE WEWORK 2.61 +0.05 +1.95%
Endeavor Group, Flower Foods and Poshmark will be among the companies wrapping up the week with earnings after the bell.
Ticker Security Last Change Change % EDR ENDEAVOR GROUP 20.40 -0.13 -0.63%FLO FLOWERS FOODS INC. 28.52 +0.01 +0.02%POSH POSHMARK INC. 17.80 -0.03 -0.17%
On the economic data front, investors will digest the consumer price index, federal budget balance and the latest in initial and continuing jobless claims. Dallas and Kansas City Fed presidents Lorie Logan and Esther George will also speak before the banks’ hybrid “Energy and the Economy: The New Energy Landscape” conference.
Finishing out the week for economic data will be the University of Michigan’s consumer sentiment index.
President Joe Biden will also attend the COP27 climate summit in Cairo, Egypt, and Treasury Secretary Janet Yellen will visit India to attend the US-India economic and financial partnership ahead of the G20 meeting.