The week ahead will be jam-packed with profits from major consumer companies, along with two key reports on the job market as well as the Federal Reserve’s interest rate decision and further guidance on a “gradual tapering” of the agency’s bond purchase program in the minutes of the September meeting mentioned.
NOVEMBER STARTS BEST 3 MONTHS FOR SHARES
|Me: DJI||DOW JONES AVERAGE VALUES||35819.56||+89.08||+ 0.25%|
|SP500||S&P 500||4605.38||+8.96||+ 0.19%|
|Me: COMP||NASDAQ COMPOSITE INDEX||15498.388494||+50.27||+ 0.33%|
This is as the markets start the month of November in record territory after shaking off losses from disappointing earnings reports from Apple and Amazon.
FOX Business takes a look at the upcoming events that are expected to move Financial markets in the coming days.
The focus of Monday’s gains is on PG&E before market opens and Clorox after the bell.
|CLX||THE CLOROX CO.||163.01||+1.15||+ 0.71%|
For economic data, investors will be watching auto 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 Leader Summit, which kicks off the COP26 climate change conference. Former President Barack Obama is expected to be present and make remarks. In China, meanwhile, a new law to protect the privacy of online users comes into force.
|TSN||TYSON FOODS, INC.||79.97||-1.04||-1.28%|
|GM||GENERAL MOTORS CO.||54.43||+0.19||+ 0.35%|
|DELL||DELL TECHNOLOGIES, INC.||109.99||-0.09||-0.08%|
Other notable events on Monday include the deadline for the full vaccination of all Tyson Foods employees against COVID-19, the FedEx increase in fuel surcharge for express, land and freight shipments, the reopening of all General Motors plants caused by the ongoing chip shortage stalled, and the completion of Dell’s spin-off from VMware.
Revenue will rise on Tuesday with ConocoPhillips, Estee Lauder, Ferrari, Pfizer, Ralph Lauren and Under Armor ahead of market opening. In the meantime, Activision Blizzard, Caesars Entertainment, Denny’s, Lyft, Match Group, Mondelez International and T-Mobile US will deliver after the bell results.
|THE||THE ESTÉE LAUDER COMPANIES, INC.||324.33||-1.17||-0.36%|
|RUN||FERRARI NV||237.17||+2.11||+ 0.90%|
|RL||RALPH LAUREN CORP.||127.17||+2.42||+ 1.94%|
|UAA||UNDER ARMOR, INC.||21.96||-0.17||-0.77%|
|ATVI||ACTIVISION BLIZZARD, INC.||78.19||-0.69||-0.87%|
|CZR||CAESARS ENTERTAINMENT, INC.||109.46||-1.43||-1.29%|
|BECAUSE||DENNYS CORP.||15.90||+0.29||+ 1.86%|
|MDLZ||MONDELEZ INTERNATIONAL, INC.||60.74||-0.21||-0.34%|
|TMUS||T-MOBILE US, INC.||115.03||-1.01||-0.87%|
The Federal Reserve Open Market Committee meeting begins Tuesday. In addition, the CDC will meet to discuss vaccinations for children and Kellogg will meet with his striking union workers to negotiate a new contract.
Wednesday November 3rd
Investors will take into account the earnings of CVS Health and Marriott International before the market opens on Wednesday.
|CVS||CVS HEALTH CORP.||89.28||+0.66||+ 0.74%|
|TO DAMAGE||MARRIOTT INTERNATIONAL, INC.||160.02||+0.05||+ 0.03%|
In the meantime, the focus will be on Cheesecake Factory, Eleven Beauty, Electronic Arts, Etsy, Fisker, Fox, Hostess Brands, Hyatt Hotels, MGM Resorts, Qualcomm and Roku After the Bell.
|CAKE||CHEESECAKE FACTORY, INC.||40.64||-0.54||-1.31%|
|ELEVEN||ELF BEAUTY, INC.||32.31||-0.20||-0.62%|
|SHE||ELECTRONIC ART, INC.||140.25||+0.02||+ 0.01%|
|ETSY||ETSY, INC.||250.69||+7.94||+ 3.27%|
|TWNK||HOSTESS BRANDS, INC.||18.91||+0.11||+ 0.59%|
|H||HYATT HOTELS CORP.||85.20||-0.20||-0.23%|
|MGM||MGM RESORTS INTERNATIONAL||47.16||+0.19||+ 0.40%|
|YEAR||OF THE YEAR, INC.||304.90||-15.66||-4.89%|
Economic data for Wednesday will be ADP’s National Employment Report, Durable Goods and Factory Orders, ISM-PMI for non-manufacturing, weekly mortgage applications, and Energy Information Administration’s weekly crude stocks.
Federal Reserve Chairman Jerome Powell will also hold a press conference following the release of the FOMC’s decision.
In addition, Allbirds will make its Nasdaq debut under the ticker symbol BIRD. The shoe and apparel retailer sells approximately 19.2 million shares at a price of $ 12-14 each.
|WMT||WALMART, INC.||149.42||+0.97||+ 0.65%|
|m||MACYS, INC.||26.47||+0.18||+ 0.68%|
|MCD||MCDONALD’S CORP.||245.55||+0.05||+ 0.02%|
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||125.10||-0.74||-0.59%|
Thursday November 4th
On Thursday, investors will take over 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.
|NKLA||NIKOLA CORP.||11.80||+0.37||+ 3.24%|
|PTON||PELOTON INTERACTIVE, INC.||91.44||+1.13||+ 1.25%|
|ABOVE||UBER TECHNOLOGIES, INC.||43.82||-0.80||-1.79%|
|WW||WW INTERNATIONAL, INC.||17.36||-0.16||-0.91%|
For economic data, investors will see layoffs in challengers, international trade, initial and permanent unemployment claims, labor costs and productivity.
|BJ||BJS WHSL CLUB HLDGS INC||58.44||+0.52||+ 0.90%|
The rollout of Black Friday deals continues on Thursday with BJ’s wholesale club. In the meantime, OPEC + will hold its monthly virtual meeting while the organization continues to monitor conditions in the oil market.
The big jobs report out Friday is expected to show employers have created 413,000 jobs, an improvement from September’s 194,000. The unemployment rate is expected to drop from 4.8% to 4.7%.
To close the week, pre-market earnings from AMC Networks, Canopy Growth, Cinemark Holdings, Dominion Energy, DraftKings, EW Scripps and Goodyear Tire & Rubber Company will be October’s job report and consumer credit.
|AMCX||AMC NETWORKS, INC.||39.79||-0.83||-2.04%|
|CGC||CANOPY GROWTH CORP.||12.63||-0.36||-2.77%|
|CNK||CINEMARK HOLDINGS, INC.||18.80||-0.75||-3.84%|
|D.||DOMINION ENERGY, INC.||75.93||-0.41||-0.54%|
|SSP||THE EW SCRIPPS CO.||18.60||-0.10||-0.53%|
|GT||GOODYEAR TIRE & RUBBER CO.||19.12||-0.12||-0.62%|
In addition, a judge is expected to issue a final decision challenging the mask mandate ban in Florida public schools. The memorial service for former US Secretary of State Colin Powell will also take place at Washington National Cathedral.