Investors brace for another wave of corporate earnings and economic data. In addition, Wall Street will be watching developments on a major shareholder vote on JetBlue Airways’ proposed merger with Spirit Airlines.
On Friday, US stocks ended a wild week with losses for all three major benchmarks. For the week, the Dow Jones Industrial Average posted a 1.3% gain, while the S&P 500 and Nasdaq Composite fell 1.5% and 3%, respectively.
|Me: DJI||DOW JONES AVERAGES||29634.83||-403.89||-1.34%|
|I: COMP||NASDAQ COMPOSITE INDEX||10321.388223||-327.76||-3.08%|
FOX Business takes a look at the upcoming events that are expected to move financial markets in the coming days.
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The week begins with gains from Bank of America, Bank of New York Mellon and Charles Schwab ahead of the market open.
|BAK||BANK OF AMERICA CORP.||31.75||+0.07||+0.22%|
|BK||THE BANK OF NEW YORK MELLON CORP.||38.41||-0.80||-2.04%|
|BLACK||THE CHARLES SCHWAB CORP.||69.06||-4.98||-6.73%|
For economic data, investors will focus on the Empire State Manufacturing Index.
|WBA||WALGREEN’S BOOTS ALLIANCE INC.||33.24||-0.41||-1.22%|
Other notable events include the deadline for 19 million Americans to apply for extensions to file their income taxes, Walmart and Walgreens selling over-the-counter hearing aids, and Sam’s Club increasing its club dues and Plus dues for the first time in nine years for the first time since its inception in 1999.
Gains are shared Tuesday at Albertsons, Goldman Sachs, Hasbro, Johnson & Johnson and State Street Corp. rise before the market opens.
|GS||THE GOLDMAN SACHS GROUP INC.||300.36||-7.06||-2.30%|
|JNJ||JOHNSON & JOHNSON||164.46||-0.69||-0.42%|
|STT||STATE STREET CORP.||61.12||-2.36||-3.72%|
Big names taking the spotlight after the bell include Netflix, United Airlines, JB Hunt Transportation Services and Interactive Brokers Group.
|UAL||UNITED AIRLINES HOLDINGS INC.||35.47||+0.07||+0.20%|
|JBHT||JB HUNT TRANSPORT SERVICES INC.||163.20||-3.02||-1.82%|
|IBKR||INTERACTIVE BROKERS GROUP INC.||68.42||-2.23||-3.16%|
On the economic data front, investors will consider industrial production and the National Association of Homebuilders Housing Market Index. Minneapolis Fed President Neel Kashkari participates in an economic panel and question-and-answer session before the Women Corporate Directors Minnesota Chapter.
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Abbott Labs, Ally Financial, M&T Bank, Procter & Gamble and Winnebago will be among the companies to report quarterly results before the market opens on Wednesday.
|ALLIES||Ally Financial Inc.||29.25||-0.92||-3.05%|
|MTB||M&T BANK CORP.||185.56||-1.68||-0.90%|
|PG||PROCTER & GAMBLECO.||125.08||-1.23||-0.97%|
|WHO||WINNEBAGO INDUSTRIES INC.||55.95||-1.03||-1.81%|
Meanwhile, IBM, Tesla, Alcoa, Equifax and WD-40 will be among the companies to be in focus after the bell.
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||120.04||-1.75||-1.44%|
Wednesday’s economic data includes housing starts and building permits, weekly mortgage applications and the Energy Information Administration’s weekly crude inventories.
In addition, Minneapolis Fed President Neel Kashkari will participate in a question-and-answer session on “Inflation, Interest Rates and the State of the US Economy” before a staffer from City Hall’s Travelers Institute and the President of Chicago Fed, Charles Evans, will participate in a moderated question-and-answer session on current economic conditions and monetary policy, hosted by the Jefferson Scholars Foundation.
|JBLU||JETBLUE AIRWAYS CORP.||6.67||0.00||0.00%|
|SAVE UP||SPIRIT AIRLINES INC.||19.43||-0.22||-1.12%|
Spirit Airlines shareholders will also vote on JetBlue Airways’ decision. $3.8 billion airline takeover agreed in July. JetBlue and Spirit expect to complete the regulatory process and close the transaction no later than the first half of 2024.
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The earnings parade continues Thursday, with American Airlines, AT&T, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting ahead of the market open.
|EEL||AMERICAN AIRLINES GROUP INC.||13.11||+0.06||+0.46%|
|pm||PHILIP MORRIS INTERNATIONAL INC.||85.33||-1.92||-2.20%|
|DGX||QUEST DIAGNOSTICS INC.||126.11||+0.40||+0.32%|
|UNP||UNION PACIFIC CORP.||193.79||-2.95||-1.50%|
Meanwhile, Snap Inc, Whirlpool, Boston Beer and Tenet Healthcare will be among the companies leading gains after the market close.
|SAM||BOSTON BEER CO. INC.||350.97||-20.11||-5.42%|
|THC||TENET HEALTHCARE CORP.||52.06||-2.01||-3.72%|
Economic data on Thursday’s agenda includes Existing Home Sales, the Philadelphia Fed Manufacturing Index, the Conference Board Index of leading economic indicators and the latest initial and ongoing jobless claims. Philadelphia Fed President Patrick Harker will also address the Greater Vineland Chamber of Commerce on the economic outlook.
To wrap up the week, earnings from American Express, HCA Healthcare, Huntington Bancshares, Regions Financial, Schlumberger and Verizon will be released ahead of Friday’s market open.
|AXP||AMERICAN EXPRESS CO.||137.13||-4.46||-3.15%|
|HCA||HCA HEALTHCARE INC.||201.47||-4.53||-2.20%|
|RF||REGIONS FINANCIAL SOCIETY||20.68||-0.20||-0.96%|
|vz||VERIZON COMMUNICATIONS INC.||36.38||-0.02||-0.04%|
New York Fed President John Williams will also deliver opening remarks ahead of the Skilling the Gap: Building Local Talent for In-Demand Careers event, co-sponsored by the Berkshire Taconic Community Foundation, Columbia-Greene Community College and Colubmia and Green County Economic Development Commissions.