Profits season will be in full swing this week with a slew of companies expected to report including Netflix, Procter & Gamble, Johnson & Johnson, American Airlines, AT&T, Southwest Airlines, Verizon, IBM, Tesla, Chipotle Mexican Grill. and Intel. Key housing data, including existing home sales, building permits, housing starts and the NAHB Housing Marketing Index, are also on the agenda.
The week will also be filled with special events from Apple, Google, Samsung, which will showcase all the latest releases of their customers’ favorite tech products, and a congressional hearing examining issues causing disruption to the global supply chain, the challenges small entities face in adapting to the disruption; and the actions the federal government can take to strengthen supply chain resilience.
This as stocks are trading higher after a stronger than expected retail sales report and strong bank profits on Friday.
|Me: DJI||MEDIUM DOW JONES||35294.76||+382.20||+1.09%|
|SP500||S&P 500||4471.37||+33.11||+ 0.75%|
|I: COMP||NASDAQ COMPOSITE INDEX||14897.33971||+73.91||+ 0.50%|
FOX Business takes a look at upcoming events that are likely to move Financial markets in the coming days.
Albertsons and State Street Corporation will launch results the week before the market opens and Steel Dynamics and Zions Bancorporation after the bell.
|ACI||ALBERTSON COMPANIES||28.56||+0.21||+ 0.74%|
|STT||STREET STATE CORP.||92.73||+1.02||+ 1.11%|
|STLD||STEEL DYNAMICS, INC.||61.88||+0.21||+ 0.34%|
|IF WE||ZIONS BANCORPORATION, NA||62.14||-0.50||-0.80%|
As for economic data, investors will be watching industrial production and the National Association of Homebuilders Housing Market Index.
Also on Monday, Apple is expected to host its Unleashed event, which is expected to unveil the latest versions of its Macbook Pro laptops. Computers are said to be equipped with the “M1X” processor, designed by Apple, after previous versions used Intel chips.
|CMCSA||COMCAST CORP.||54.02||+0.03||+ 0.06%|
|CS||CREDIT SUISSE GROUP SA||10.57||+0.14||+1.34%|
In addition, Comcast and Credit Suisse are expected to welcome fully vaccinated employees back to the office.
On Tuesday, investors will collect profits from a number of companies, including Bank of New York Mellon, Johnson & Johnson, Philip Morris and Procter & Gamble before the opening bell. Meanwhile, Netflix and Kansas City Southern will be among the big names in the spotlight after the bell.
|BK||NEW YORK BANK MELLON CORP.||57.16||+0.59||+1.04%|
|JNJ||JOHNSON & JOHNSON||161.30||+1.19||+ 0.74%|
|PM||PHILIP MORRIS INTERNATIONAL, INC.||98.37||-0.48||-0.49%|
|PG||PROCTER & GAMBLE CO.||144.42||+0.37||+ 0.26%|
|KSU||SOUTH OF KANSAS TOWN||295.59||+3.26||+1.12%|
As for economic data, building permits and housing starts will be in the spotlight. The Federal Reserve will also tour Philadelphia Fed Chairman Patrick Harker speaking ahead of the “C3: Cybersecurity Collaboration & Cooperation” conference, San Francisco Fed Chairman Mary Daly speaking to a Regional Banker Forum and Atlanta Fed President Raphael Bostic participating in a virtual interview. dubbed “Back to Work: Helping the Long-Term Unemployed” and speaking ahead of the US Federal Reserve’s “Exploring Careers in Economics” event.
The European Commission will publish a report on the impact of the COVID-19 pandemic on the European economy.
|GOOGL||ALPHABET, INC.||2 827.36||+4.34||+ 0.15%|
Also on Tuesday, Google will unveil its Pixel 6 and Pixel 6 Pro phones, which are powered by the tech giant’s first custom mobile chip, Tensor. The Pixel Fall launch event will be broadcast live at 10 a.m. PT / 1 p.m. ET.
|XOM||EXXON MOBIL CORP.||62.59||+0.59||+ 0.95%|
|SAY||THE WALT DISNEY CO.||176.46||+2.05||+ 1.18%|
Other notable events include the union worker vote on a proposed contract with ExxonMobil and the launch of Disney Genie, a new digital planning service for the company’s theme parks in Florida.
Profits to watch Wednesday include Abbott Labs, Anthem and Verizon before the market opens and IBM and Tesla after the bell.
|ANTM||HYMNE, INC.||393.05||+2.34||+ 0.60%|
|VZ||VERIZON COMMUNICATIONS, INC.||52.27||+0.35||+ 0.67%|
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||144.61||+1.22||+ 0.85%|
|TSLA||TESLA, INC.||843.03||+24.71||+ 3.02%|
Investors will also be watching economic developments outlined in the Beige Book, weekly mortgage applications, the Energy Information Administration’s weekly crude stocks, and remarks from Atlanta Fed Chairman Raphael Bostic, Fed Chairman of Chicago Charles Evans and St. Louis Fed Chairman at the “Racism and the Economy: Focus on the Wealth Divide” virtual conference hosted by Federal Reserve District Banks. San Francisco Fed President Mary Daly will also participate in a virtual fireside discussion ahead of the Asian Banking and Finance Symposium. “
Other important events to watch out for will be Samsung’s Unpacked event, a House Small Business subcommittee on global supply chain surveillance, investigation and regulation, and the international talks in Moscow between representatives of the Russia and the Taliban on the situation in Afghanistan.
On Thursday, Alaska Air, American Airlines, AT&T, AutoNation, BlackStone, Crocs and Southwest Airlines were among the big names who reported before the market opened.
|ALK||ALASKA AIR GROUP, INC.||57.77||+0.25||+ 0.43%|
|AAL||AMERICAN AIRLINES GROUP, INC.||19.98||+0.34||+ 1.73%|
|T||AT&T, INC.||25.70||+0.08||+ 0.31%|
|A||AUTONATION, INC.||116.71||+0.67||+ 0.58%|
|BX||BLACK STONE||123.03||+1.00||+ 0.82%|
|CROX||CROCS, INC.||137.19||+0.57||+ 0.42%|
|LCV||SOUTH-WEST AIRLINES CO.||50.36||-1.15||-2.23%|
Meanwhile, Boston Beer, Chipotle Mexican Grill, Intel, Mattel, Snap, and Whirlpool will deliver results after the bell.
|SAT||BOSTON BEER CO., INC.||511.36||-13.83||-2.63%|
|GCM||CHIPOTLE MEXICAN GRILL, INC.||1,830.93||-9.76||-0.53%|
|BREAK||SNAP, INC.||77.34||+0.70||+ 0.91%|
Restaurant chain Portillo’s and coconut water company Vita Coco are also slated to debut on the Nasdaq under the symbols PTLO and COCO. Portillo’s sells 20.3 million shares at $ 17 to $ 20 each, according to its IPO prospectus. At $ 20, Portillo’s valuation could reach $ 1.4 billion. Vita Coco, meanwhile, offers 11.5 million shares at $ 18 to $ 21 each, according to its prospectus. Vita Coco is targeting a valuation of $ 1.17 billion at $ 21 per share.
Economic data on the board for Thursday includes initial and continuing jobless claims, existing home sales, the Philadelphia Fed manufacturing index and the index of major economic indicators.
In politics, Attorney General Merrick Garland is expected to testify before the House Judiciary Committee.
American Express, Honeywell, Schlumberger and VF Corporation will close the week for results. Meanwhile, Markit Manufacturing and Markit Services PMIs will end the week for economic data.
|AXP||AMERICAN EXPRESS CO.||175.81||+4.30||+ 2.51%|
|HON||HONEYWELL INTERNATIONAL, INC.||220.72||+2.13||+ 0.97%|
San Francisco Fed President Mary Daly will also participate in a conversation titled “Facing an Uncertain World: The Federal Reserve and Climate Change Risk” ahead of an event hosted by the American Enterprise Institute. Russia’s central bank will also update its inflation forecast and rate path for 2021.