Jobs Report, GameStop Earnings, Highest Home Prices Next Week
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Although the New York Stock Exchange is closed Monday in observance of the Memorial Day holiday, investors will still have another busy week of corporate earnings and key economic data related to housing, manufacturing and jobs.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones averages | 33212.96 | +575.77 | + 1.76% |
| SP500 | Standard & Poor’s 500 | 4158.24 | +100.40 | + 2.47% |
| I: COMP | Nasdaq Composite Index | 12131.131075 | +390.48 | + 3.33% |
FOX Business takes a look at upcoming events likely to move financial markets in the coming days.
Tuesday 5/31
HP, Salesforce, and Victoria’s Secret will start after the bell the start of the week for profits.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| HPQ | HP INC. | 38.78 | +2.02 | + 5.48% |
| CR | SALESFORCE INC. | 165.10 | +2.64 | + 1.63% |
| VSCO | Victoria’s Secret & Co | 42.67 | -1.88 | -4.22% |
Investors will also take the Case-Shiller Home Price Index and the Federal Housing Finance Agency’s monthly home price index and consumer confidence.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| ABNB | Airbnb inc. | 120.50 | +6.20 | + 5.42% |
Also Tuesday, Airbnb will finalize refunds related to COVID.
Bank of America CEO: The American consumer is in very good shape, making the Fed’s job more difficult
Wednesday 6/1
The earnings presentation will continue on Tuesday with Capri Holdings, Hovnanian and Vera Bradley presenting before the market open and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp presenting results after the bell.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| CPRI | Capri Holdings Limited. | 47.58 | +1.68 | + 3.66% |
| HOV | Hofn projects | 50.47 | +3.18 | + 6.72% |
| VRA | Vera Bradley Company | 6.56 | +0.01 | + 0.15% |
| CHWY | CHEWY INC. | 27.11 | +1.57 | + 6.15% |
| GME | Jamestop Corp. | 136.89 | +8.31 | + 6.46% |
| HP | HEWLETT PACKARD ENTERPRISE CO. | 15.79 | +0.65 | + 4.26% |
| NTAP | NETAPP INC. | 73.05 | +2.56 | + 3.63% |
| PVH | PVH CORP. | 70.70 | +0.74 | + 1.06% |
On the economic data front, investors will digest the Fed’s Beige Book, construction spending, auto sales, ISM manufacturing PMI and weekly mortgage applications. The Fed is also expected to start shrinking its balance sheet.
In addition, New York Federal Reserve Chairman John Williams will deliver opening remarks to the Bank and the Columbia University School of International and Public Affairs’ Monetary Policy Implementation and Digital Innovation Workshop.
St. Louis Fed President James Bullard will also give a presentation on the US economy and monetary policy ahead of the Mixed Economic Club event in Memphis.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| RBAC | Red Ball Acquisition Company. | 10.07 | +0.87 | + 9.46% |
| ORCL | Oracle Corporation. | 72.78 | +1.12 | + 1.56% |
| CERN | CERNER CORP. | 94.68 | +0.13 | + 0.14% |
Other notable events include the shareholder vote on SeatGeek’s $1.35 billion merger with special purpose buyout firm RedBall, the end of the Russian Central Bank’s ban on short selling, a European Commission decision on Oracle’s $23.8 billion takeover of Cerner and the decision of the Bank of Canada. on interest rates.
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Thursday 6/2
The week concludes with earnings for Designer Brands, Duluth Holdings, Hormel Foods, Lands’ End and Toro before the market open, Broadcom, Cooper Companies, CrowdStrike Holdings, lululemon sportsica and Okta after the bell.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| DBI | Brand Designer INC. | 15.84 | +0.20 | + 1.28% |
| DLTH | Duluth Holdings Inc | 12.51 | +0.66 | + 5.57% |
| HRL | Hormel Foods Corp. | 48.65 | +0.23 | + 0.48% |
| fairy | land end | 11.87 | +0.27 | + 2.33% |
| TTC | Toro . company | 82.66 | +1.75 | + 2.16% |
| AVGO | BROADCOM INC. | 583.28 | +32.62 | + 5.92% |
| coo | COOPER COS. INC. | 351.90 | +8.04 | + 2.34% |
| CRWD | CROWDSTRIKE HOLDINGS INC. | 166.82 | +10.98 | + 7.05% |
| lulu | LULULEMON ATHLETICA INC. | 293.65 | +6.17 | + 2.15% |
| OKTA | OKTA INC. | 86.06 | +4.85 | + 5.97% |
In other market news, Didi Global is expected to formally file a delisting notice with the Securities and Exchange Commission. Thursday also marks the agency’s deadline to decide whether or not to approve a rule change that would allow the listing of One River Carbon Neutral Bitcoin Trust shares on the New York Stock Exchange Arca.
| ribbon | protection | else | they change | they change % |
|---|---|---|---|---|
| Didi | DIDI GLOBAL INC | 2.01 | +0.16 | + 8.65% |
As for economic data, investors will be watching the ADP employment report, factory orders, labor costs and productivity, the latest in initial and continuing jobless claims and the EIA’s weekly crude oil inventories.
Loretta Meester, President of the Federal Reserve Bank of Cleveland, will also speak about the economic outlook via video conference before the meeting of the Philadelphia Board of Business Economics, and OPEC and non-OPEC members will hold their monthly ministerial meeting related to crude oil production.
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Friday 6/3
The week will end with the May jobs report and the Institute of Production Management’s non-manufacturing PMI.
Friday also marks the deadline for the Biden administration to provide an in-person briefing on its efforts to improve the quality and timeliness of federal mineral permitting processes.
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