Jobs report, GameStop earnings, home prices top week ahead

Jobs report, GameStop earnings, home prices top week ahead

Though the New York Stock Exchange will be closed Monday in observance of the Memorial Day holiday, investors will still have another jam-packed week of corporate earnings and key economic data related to housing, manufacturing and jobs.

Ticker Security Last Change Change%
I: DJI DOW JONES AVERAGES 33212.96 +575.77 + 1.76%
SP500 S&P 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

Kicking off the week for earnings will be HP, Salesforce and Victoria’s Secret after the bell.

Ticker Security Last Change Change%
HPQ HP INC. 38.78 +2.02 + 5.48%
CRM SALESFORCE INC. 165.10 +2.64 + 1.63%
VSCO VICTORIA’S SECRET & CO. 42.67 -1.88 -4.22%

Investors will also take in the Case-Shiller home price index, the Federal Housing Finance Agency’s monthly home price index and consumer confidence.

Ticker Security Last Change Change%
ABNB AIRBNB INC. 120.50 +6.20 + 5.42%

Also on Tuesday, Airbnb will end COVID-related refunds.

BANK OF AMERICA CEO: US CONSUMER IN ‘VERY GOOD SHAPE’, MAKES FED’S JOB ‘TOUGHER’

Wednesday 6/1

The earnings parade will continue Tuesday with Capri Holdings, Hovnanian and Vera Bradley reporting before the market open and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp delivering results after the bell.

Ticker Security Last Change Change%
CPRI CAPRI HOLDINGS LTD. 47.58 +1.68 + 3.66%
HOV HOVNANIAN ENTERPRISES 50.47 +3.18 + 6.72%
VRA VERA BRADLEY INC. 6.56 +0.01 + 0.15%
CHWY CHEWY INC. 27.11 +1.57 + 6.15%
GME GAMESTOP CORP. 136.89 +8.31 + 6.46%
HPE HEWLETT PACKARD ENTERPRISE CO., LTD. 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 Federal Reserve’s Beige Book, construction spending, vehicle sales, the ISM manufacturing PMI and weekly mortgage applications. The Federal Reserve is also expected to start reducing its balance sheet.

In addition, New York Fed President John Williams will deliver opening remarks before 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 before a hybrid Economic Club of Memphis event.

Ticker Security Last Change Change%
RBAC REDBALL ACQUISITION CORP. 10.07 +0.87 + 9.46%
ORCL ORACLE CORP. 72.78 +1.12 + 1.56%
BLACK CERNER CORP. 94.68 +0.13 + 0.14%

Other notable events include a shareholder vote on SeatGeek’s $ 1.35 billion merger with special purpose acquisition company RedBall, the end of the Russian central bank’s ban on short selling, a decision from the European Commission on Oracle’s $ 23.8 billion acquisition of Cerner and the Bank of Canada’s decision on interest rates.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Thursday 6/2

Wrapping up the week for earnings will be Designer Brands, Duluth Holdings, Hormel Foods, Lands’ End and Toro before the open and Broadcom market, Cooper Companies, CrowdStrike Holdings, lululemon athletica and Okta after the bell.

Ticker Security Last Change Change%
DBI DESIGNER BRANDS 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%
LE LANDS END 11.87 +0.27 + 2.33%
TTC THE TORO CO. 82.66 +1.75 + 2.16%
AVGO BROADCOM INC. 583.28 +32.62 + 5.92%
COO THE 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 submit its delisting notice with the Securities and Exchange Commission. Thursday also marks the agency’s deadline to decide whether to approve or disapprove a rule change allowing shares of One River Carbon Neutral Bitcoin Trust to be listed on the New York Stock Exchange Arca.

Ticker Security Last Change 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, productivity, the latest in initial and continuing jobless claims and the Energy Information Administration’s weekly crude stocks.

Cleveland Fed President Loretta Mester will also speak on the economic outlook via video conference before the Philadelphia Council for Business Economics Meeting, and OPEC and non-OPEC members will hold their monthly ministerial meeting related to crude oil production.

CLICK HERE TO READ MORE ON FOX BUSINESS

Friday 6/3

Finishing out the week will be the May jobs report and the ISM 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 critical mineral permitting processes.

Be the first to comment

Leave a Reply

Your email address will not be published.


*