Fed decision, jobs report, better results from CVS Health next week
The coming week will be filled with earnings from big names in consumer spending as well as two key labor market reports as well as the Federal Reserve’s decision on interest rates and further guidance on a “reduction process. progressive “of the agency’s bond purchase program. mentioned in the September meeting report.
FOX Business takes a look at upcoming events that are likely to move Financial markets in the coming days.
On Monday, PG&E will be in the spotlight for earnings before the market opens and Clorox after the bell.
As for the economic data, investors will be watching car sales, construction spending and the Institute of Supply Management’s manufacturing PMI.
In the world of politics, President Biden will travel to Glasglow, Scotland to attend the World Leaders’ Summit which will kick off COP26 on climate change. Former President Barack Obama is also expected to attend and deliver remarks. Meanwhile, in China, a new law designed to protect the privacy of users’ data online will come into force.
Other notable events on Monday included the deadline for all Tyson Foods employees to be fully vaccinated against COVID-19, the increase in FedEx’s fuel surcharge for express, land and freight shipments, the reopening of all General Motors factories blocked by continued chip shortages and the completion of Dell’s spin-off of VMware.
Profits will rise on Tuesday with ConocoPhillips, Estee Lauder, Ferrari, Pfizer, Ralph Lauren and Under Armor before the market opens. Meanwhile, Activision Blizzard, Caesars Entertainment, Denny’s, Lyft, Match Group, Mondelez International and T-Mobile US are all expected to deliver results after the bell.
On Tuesday, the meeting of the Federal Open Market Committee will begin. Additionally, the CDC will meet to discuss pediatric vaccinations and Kellogg will meet with his striking union workers to negotiate a new contract.
Investors will receive profits from CVS Health and Marriott International before the market opens on Wednesday.
Meanwhile, Cheesecake Factory, elf Beauty, Electronic Arts, Etsy, Fisker, Fox, Hostess Brands, Hyatt Hotels, MGM Resorts, Qualcomm and Roku will be the center of attention after the bell.
Economic data on Wednesday’s agenda will be the national ADP jobs report, durable goods and factory orders, the ISM non-manufacturing PMI, weekly mortgage applications and weekly crude inventories of. the Energy Information Administration.
Federal Reserve Chairman Jerome Powell will also hold a press conference following the release of the FOMC decision.
Additionally, Allbirds will debut on the Nasdaq under the symbol BIRD. The shoe and clothing retailer is selling around 19.2 million shares at $ 12 to $ 14 apiece.
On Thursday, investors will receive profits from Hanesbrands, Kellogg, Moderna, Nikola, ViacomCBS, and Wayfair before the market opens and Airbnb, Peloton Interactive, Pinterest, Shake Shack, Square, Uber, WW International and Yelp after the bell.
When it comes to economic data, investors will be watching challengers layoffs, international trade, initial and continuing jobless claims, labor costs and productivity.
The rollout of Black Friday deals will continue on Thursday with BJ’s wholesale club. Meanwhile, OPEC + will hold its monthly virtual meeting as the organization continues to monitor oil market conditions.
The major jobs report due Friday is expected to show employers added 413,000 jobs an improvement from 194,000 in September. The unemployment rate is expected to fall to 4.7% from 4.8%.
The week will end with earnings from AMC Networks, Canopy Growth, Cinemark Holdings, Dominion Energy, DraftKings, EW Scripps and Goodyear Tire & Rubber Company ahead of market opens, October jobs report and credit for consumption.
In addition, a judge is expected to make a final decision on a challenge to the Florida mask warrant ban for public schools. The memorial service for former US Secretary of State Colin Powell will also be held at the Washington National Cathedral.