Investors are bracing for another wave of corporate earnings and economic data. Additionally, Wall Street will follow developments from a key shareholder vote in JetBlue Airways’ proposed merger with Spirit Airlines.
US equities ended a wild week with losses across all three major benchmarks on Friday. 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||MEDIA DOW JONES||29634.83||-403.89||-1.34%|
|ME: COMP||COMPOSITE INDEX NASDAQ||10321.388223||-327.76||-3.08%|
FOX Business takes a look at upcoming events that are likely to move financial markets in the next days.
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Kicking off the week will be Bank of America, Bank of New York Mellon and Charles Schwab earnings ahead of the market opening.
|BAC||BANK OF AMERICA CORP.||31.75||+0.07||+ 0.21%|
|BK||THE BANK OF NEW YORK MELLON CORP.||38.41||-0.80||-2.04%|
|SCHW||THE CHARLES SCHWAB CORP.||69.06||-4.99||-6.74%|
As for the economic data, investors will focus on the Empire State manufacturing index.
|WBA||WALGREENS ALLIANCE INC. BOOTS||33.24||-0.41||-1.22%|
Other noteworthy events include the deadline for 19 million Americans who have applied for extensions to file their income taxes, Walmart and Walgreens selling over-the-counter hearing aids, and Sam’s Club increasing its Club membership dues for the first time in nine years and Plus membership fees for the first time since its introduction in 1999.
Earnings will increase on Tuesday with Albertsons, Goldman Sachs, Hasbro, Johnson & Johnson and State Street Corp. before the market opens.
|GS||THE GOLDMAN SACHS INC. GROUP||300.36||-6.72||-2.19%|
|JNJ||JOHNSON & JOHNSON||164.46||-0.69||-0.42%|
|STT||STATE STREET CORP.||61.12||-2.34||-3.69%|
Big names in 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 look at the industrial production and real estate market index of the National Association of Homebuilders. Minneapolis Fed President Neel Kashkari attends an economics panel and question-and-answer session ahead of the Minnesota Women Corporate Directors chapter.
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Abbott Labs, Ally Financial, M&T Bank, Procter & Gamble and Winnebago will be among the companies to report on quarterly earnings before the market opens on Wednesday.
|ALLY||ALLY FINANCIAL INC.||29.25||-0.92||-3.05%|
|MTB||M&T BANCA CORP.||185.56||-1.68||-0.90%|
|PG||PROCTER & GAMBLE CO.||125.08||-1.23||-0.97%|
|WGO||WINNEBAGO INDUSTRIES INC.||55.95||-1.01||-1.77%|
Meanwhile, IBM, Tesla, Alcoa, Equifax and WD-40 will be among the companies in the spotlight after the bell.
|IBM||INTERNATIONAL BUSINESS MACCHINE CORP.||120.04||-1.75||-1.44%|
Economic data on Wednesday will include the start of housing and building permits, weekly mortgage applications and weekly crude oil supplies from the Energy Information Administration.
Additionally, Minneapolis Fed President Neel Kashkari will attend a question and answer session on “Inflation, Interest Rates and the State of the US Economy” before a Travelers Institute employee town hall and Chicago Fed President 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||SPIRIT AIRLINES INC.||19.43||-0.22||-1.12%|
Spirit Airlines shareholders will also vote on JetBlue Airways $ 3.8 billion acquisition of the airline agreed in July. JetBlue and Spirit plan to wrap up the regulatory process and finalize the transaction by the first half of 2024.
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The earnings parade will continue Thursday with American Airlines, AT&T, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting before the market opens.
|AAL||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 earnings after the bell.
|SAM||BOSTON BEER CO. INC.||350.97||-20.37||-5.49%|
|THC||TENET HEALTHCARE CORP.||52.06||-2.01||-3.72%|
Economic data on the agenda for Thursday will include existing home sales, the Philadelphia Fed Manufacturing Index, the Conference Board’s Leading Economic Indicator Index, and the latest initial and ongoing jobless claims. Philadelphia Fed President Patrick Harker will also speak on the economic outlook before the Greater Vineland Chamber of Commerce.
Rounding out the week will be earnings from American Express, HCA Healthcare, Huntington Bancshares, Regions Financial, Schlumberger and Verizon ahead of market opening on Friday.
|AXP||AMERICAN EXPRESS CO.||137.13||-4.46||-3.15%|
|HCA||HCA HEALTHCARE INC.||201.47||-4.53||-2.20%|
|RF||FINANCIAL REGIONS CORP.||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 a keynote address prior to the “Skilling the Gap: Building Local Talent for In-Demand Careers” event organized by the Berkshire Taconic Community Foundation, Columbia-Greene Community College and the economic development of Colubmia and Green County.