The Making Money host offers a perspective on the stock market.
Preparing for another busy week for corporate earnings, investors will be monitoring a range of economic data including the latest consumer prices. The Federal Reserve has hiked interest rates by half a percentage point for the first time in two decades to begin taming record-high inflation to bring prices down.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 32899.37 | -98.60 | -0.30% |
| SP500 | S&P500 | 4123.34 | -23.53 | -0.57% |
| I: COMP | NASDAQ COMPOSITE INDEX | 12144.661895 | -173.03 | -1.40% |
On Friday, the S&P 500 and Nasdaq Composite fell 0.6% and 1.4%, respectively, while the Dow Jones Industrial Average fluctuated between losses and gains after a deficit of over 400 points and a loss of 98 points or down of 0.3% ended. All three major averages posted weekly losses.
FOX Business takes a look at the upcoming events that are likely to move the financial markets in the coming days.
APRIL JOBS REPORT LIKELY STRENGTHENS THE FED’S AGGRESSIVE FEE HIKING PLAN
Monday 5/9
Revenue beginning the week before market opens includes BioNTech, Lordstown Motors, Palantir Technologies, Party City and Tyson Foods pre-market.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| BNTX | BIOTECH SE | 136.17 | -5.75 | -4.05% |
| JOURNEY | LORDSTOWN ENGINES | 1.91 | -0.17 | -8.17% |
| PLTR | PALANTIR TECHNOLOGIES INC. | 9.48 | -0.64 | -6.32% |
| PRTY | PARTY CITY HOLDCO INC. | 3.06 | -0.15 | -4.67% |
| TSN | Tyson Foods Inc. | 90.82 | -0.08 | -0.09% |
Meanwhile, AMC Entertainment, GoodRx, Simon Property Group, SmileDirectClub and thredUp will be among the companies taking the spotlight after the bell.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 13.76 | -0.93 | -6.33% |
| DDRX | GOODRX HOLDINGS INC. | 12.74 | -0.37 | -2.82% |
| SPG | SIMON PROPERTY GROUP INC. | 121.42 | -1.04 | -0.85% |
| SDC | SMILEDIRECTCLUB INC. | 1.78 | -0.05 | -2.73% |
| TDUP | THREDUP INC. | 6.26 | -0.44 | -6.57% |
On the economic data front, investors will be watching wholesale inventory, sales and employment trends.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| FB | META PLATFORMS INC. | 203.77 | -4.51 | -2.17% |
Other notable events include the opening of the first-ever Meta Store and a National Republican Congressional Committee fundraising dinner chaired by former President Donald Trump.
APRIL JOBS REPORT: WHICH INDUSTRIES HAVE REPORTED THE BIGGEST SALARY GAINS OVER THE LAST MONTH?
Tuesday 5/10
The winning parade continues Tuesday with Fox Corporation, the parent company of Fox Business, Hyatt Hotels, Peloton Interactive, Planet Fitness, Sysco and Warner Music Group ahead of the market open.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| FOXA | FOX CORP. | 34.60 | -1.94 | -5.31% |
| H | HYATT HOTELS CORP. | 85.50 | -1.08 | -1.25% |
| PTON | PELOTON INTERACTIVE INC. | 15.70 | -1.31 | -7.70% |
| PLNT | PLANET FITNESS INC. | 74.86 | -1.02 | -1.35% |
| GROUND | SYSCO CORP. | 82.49 | -1.26 | -1.50% |
| WMG | WARNER MUSIC GROUP CORP. | 29.14 | +0.01 | +0.03% |
Meanwhile, Electronic Arts, Occidental Petroleum, Roblox, Rocket Companies and SoFi Technologies will lead gains after Tuesday’s bell.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| EA | ELECTRONIC ARTS INC. | 115.29 | -4.32 | -3.61% |
| OXY | OCCIDENTAL PETROLEUM CORP. | 64.90 | +2.67 | +4.29% |
| RBLX | ROBLOX CORP. | 27.81 | -2.63 | -8.64% |
| RKT | ROCKET COMPANIES INC. | 8.58 | -0.18 | -2.05% |
| SOFI | SOFI TECHNOLOGIES | 6.44 | -0.39 | -5.71% |
The NFIB Business Optimism Index will be the main event for economic data. New York Fed President John Williams will also deliver a keynote speech at the National Association for Business Economics/Bundesbank International Economic Symposium.
In addition, Atlanta Fed President Raphael Bostic will make opening remarks and moderate a talk before the bank’s Atlanta Financial Markets Conference. Cleveland Fed President Loretta Mester will also attend the conference’s session on “Monetary Policy and Financial Stability Challenges While Balance Sheet Normalization.”
In the world of politics, President Biden will welcome Italian Prime Minister Mario Draghi to the White House to “discuss ongoing coordination with allies and partners on measures to support the Ukrainian people and impose economic costs on Russia for its unprovoked aggression.”
The United Nations General Assembly will also vote on whether to replace Russia on the Human Rights Council.
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Wednesday 5.11
Earnings on Wednesday’s list include Krispy Kreme, Perrigo and Wendy’s before the market opens and Beyond Meat, Bumble, Rivian, Virgin Orbit, Disney and ZipRecruiter after the bell.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| DNU | KRISPY CREAM | 13.12 | -0.26 | -1.94% |
| PRGO | PERRIGO CO. SPS | 32.48 | +0.17 | +0.53% |
| WHOM | THE WENDYS CO. | 18.43 | -0.41 | -2.18% |
| BYND | BEYOND MEAT INC. | 35.83 | -2.60 | -6.77% |
| BMBL | BUMBLE INC. | 21.91 | -1.83 | -7.71% |
| RIVN | RIVIAN AUTOMOTIVE INC. | 28.79 | -1.92 | -6.25% |
| speech | VIRGINS ORBIT | 5.36 | -0.34 | -5.96% |
| DIS | THE WALT DISNEY CO. | 110.32 | -2.38 | -2.11% |
| POSTAL CODE | ZIPRECRUITER | 21.85 | -0.90 | -3.96% |
The consumer price index, federal budget deficit, weekly mortgage applications and weekly Crude Oil Inventories from the Energy Information Administration will be the focus of economic data. Atlanta Fed President Raphael Bostic will also address the economic outlook and monetary policy and participate in a moderated talk before the World Affairs Council in Jacksonville.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| ALPHABET INC. | 2,314.93 | -15.18 | -0.65% | |
In addition, Google will hold its annual I/O developer conference.
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Thursday, 5.12
Thursday’s earnings include Six Flags Entertainment, Tapestry, US Foods, UTZ Brands and WeWork before the market opens and Joby Aviation, Poshmark and Wheels Up Experience after the bell.
Investors will also be keeping an eye on the PPI and the latest reports on initial and subsequent jobless claims. Mary Daly, President of the San Francisco Fed, will also participate in a fireside chat moderated by former San Francisco Fed Seattle Branch Executive Director Sophie Minich.
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| SIX | SIX FLAGS ENTERTAINMENT CORP. | 34.10 | -0.36 | -1.06% |
| TPR | TAPESTRY INC. | 30.34 | -1.14 | -3.62% |
| USFD | US FOOD HOLDING CORP. | 36.56 | -0.63 | -1.69% |
| NEWS | UTZ BRANDS, INC. | 13.38 | -0.14 | -1.04% |
| WEATHER | WE WORK | 6.67 | +0.21 | +3.25% |
| JOBY | JOBY AVIATION | 5.33 | +0.05 | +0.95% |
| ELEGANT | POSHMARK INC. | 11.19 | -0.96 | -7.90% |
| HIGH | WHEELS UP EXPERIENCE INC | 2.91 | -0.08 | -2.68% |
President Joe Biden will host leaders from the Association of Southeast Asian Nations (ASEAN) in Washington, DC for a special US-ASEAN Summit.
“The special summit will demonstrate the United States’ continued commitment to ASEAN, recognize its pivotal role in delivering sustainable solutions to the region’s most pressing challenges, and commemorate 45 years of U.S.-ASEAN relations,” White’s spokeswoman said Haus, Jen Psaki, in a statement. “A top priority for the Biden-Harris administration is to act as a strong, reliable partner in Southeast Asia. Our collective aspirations for the region will continue to underpin our shared commitment to advance a free, open, secure, connected and resilient Indo-Pacific.”
| ticker | security | Last | To change | To change % |
|---|---|---|---|---|
| MSFT | microsoft corp | 274.73 | -2.62 | -0.94% |
Other notable events include the second global COVID-19 summit, where the US, Belize, Germany, Indonesia and Senegal will redouble their joint efforts to “end the acute phase of the COVID-19 pandemic and prepare for future health threats prepare,” and Microsoft’s Security Summit, which will feature tech demos and discussions about the modern cyber threat landscape.
Friday 13.5
The week will end with the University of Michigan import price index and consumer sentiment index. In addition, Minneapolis Fed President Neel Kashkari will speak at a virtual event on energy prices and how they affect inflation, and Samsung will hold its first 6G network forum.
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