The coming week for Wall Street investors will be focused on key jobs data early in the final quarter of 2022, as well as corporate earnings from big names like Conagra Brands, which owns brands like Birds Eye and Duncan Hines and apparel brand Levi Strauss.
US stocks ended the month and quarter lower on Friday as volatility increased. Recession and inflation concerns drove the Dow Jones Industrial Average into a bear market.
For the month, the Dow and S&P 500 lost 9%, while the tech-heavy Nasdaq Composite fell 10.5%.
|Me: DJI||DOW JONES AVERAGES||28725.51||-500.10||-1.71%|
|I: COMP||NASDAQ COMPOSITE INDEX||10575.618672||-161.89||-1.51%|
FOX Business takes a look at the upcoming events that are expected to move financial markets in the coming days.
STOCK MARKET NEWS: FED INFLATION GAUGE RISES, NIKE SHARES FALL, SHARES WRAP IN ROUGH SEPTEMBER
Construction spending and the ISM Manufacturing Purchasing Managers’ Index will kick off the economic data week.
|XPER||XPERI HOLDING CORP.||14.14||-0.08||-0.56%|
Technology company Xperi will ring the opening bell of the New York Stock Exchange to celebrate the completion of its demerger as an independent, publicly traded, standalone company. Meanwhile, Adeia, Xperi Holding Corporation’s newly rebranded independent intellectual property licensing business, will ring the closing bell on the Nasdaq MarketSite.
Xperi is traded under the symbol XPER while Adeia is listed under ADEA.
Atlanta Fed President Raphael Bostic will deliver an opening address and participate in a moderated discussion ahead of the 2022 Technology-Enabled Disruption (TED) conference hosted by the Federal Reserve Banks of Atlanta, Richmond and Dallas. Richmond Fed President Thomas Barkin will also speak at the conference. In addition, Ester George, President of the Kansas City Fed, will speak about payments before the Federal Reserve Bank of Chicago’s Payments Symposium.
Other notable events include the suspension of sterling trading on the Moscow Stock Exchange and a settlement conference related to an investor lawsuit against Tesla over CEO Elon Musk’s tweets.
FED’S BRAINARD WARNS THAT RESTRICTIVE INTEREST RATES MAY BE NEEDED ‘FOR SOME TIME’
Lighting and facility management company Acuity Brands will take a spotlight on earnings ahead of the market Tuesday. On the economic data front, investors get reports on factory orders, durable goods and the latest job openings data from the Job Opportunities and Labor Turnover Survey (BACK) report.
|AYI||ACUITY BRANDS INC.||157.51||+3.32||+2.15%|
New York Fed President John Williams will deliver an opening statement ahead of the bank’s “Culture and the New Workplace” webinar. Additionally, Dallas Fed President Lorie Logan will address the 2022 Technology-Enabled Disruption (TED) conference, Cleveland Fed President Loretta Mester will address payments at the Chicago Fed’s Payments Symposium, and President of the San Francisco Fed, Mary Daly, speaking ahead of a hybrid event with the Council on Foreign Relations.
Helen of Troy, owner of brands such as Braun, Honeywell and Vicks, and Lamb Weston, manufacturer of frozen potato products, report before the market opens.
|HELE||HELEN OF TROY LTD.||96.44||-2.88||-2.90%|
|Lw||LAMB WESTON HOLDINGS INC.||77.40||-0.69||-0.88%|
Meanwhile, the ADP national employment report, international trade balance, ISM non-manufacturing purchasing managers’ index, weekly mortgage applications and weekly crude oil inventories from the Energy Information Administration are on deck for economic data.
Federal Reserve Bank of Atlanta President Raphael Bostic will also address the Northwestern University Institute for Policy Research’s virtual Distinguished Public Policy Lecture on “Staying Resolute in the Battle Against Inflation.”
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Thursday will be the busiest day for sales as food company Conagra Brands, spirits maker Constellation Brands and spice maker McCormick & Co. report ahead of the market. Communications providers IDT Corp and Levi Strauss report after the bell. As for economic data, investors will be watching the latest initial jobless claims and ongoing jobless claims.
Also on Thursday, Chicago Fed President Charles Evans will participate in a moderated question-and-answer session with the Illinois Chamber of Commerce, and Cleveland Fed President Loretta Mester will address the Council for Economic Education “Economists” talk about monetary policy and the economic prospects at the “Economy” event.
Other notable events include the second event of Target’s Deal Days 2022, Google’s unveiling of the latest Pixel range, and the postponed deposition of Elon Musk in his ongoing legal battle with Twitter.
The week ends with the September jobs report, wholesale inventories and sales, and consumer credit. New York Fed President John Williams will also participate in a fireside chat and moderated question-and-answer session hosted by SUNY Buffalo State