Investors are set for another busy week of earnings and economic data, including the January jobs report.
It could also be another volatile week for stocks after all three of the major averages closed on high notes on Friday, capping a wild but successful week as investors raised concerns about inflation and faster-than-expected rate hikes .
|Me: DJI||DOW JONES AVERAGES||35131.86||+406.39||+1.17%|
|I: COMP||NASDAQ COMPOSITE INDEX||14239.883238||+469.31||+3.41%|
JOE ROGAN, SPOTIFY CONTROVERSIES RAGE WHILE MORE ARTISTS NEED THE FUTURE
FOX Business takes a look at the upcoming events that are expected to move financial markets in the coming days.
Citigroup is expected to begin firing employees who are unvaccinated to set the stage for other companies.
|C||CITI GROUP INC.||65.12||+0.43||+0.66%|
On the earnings list, reports from Cirrus Logic and NXP Semiconductors will be closely watched. While the Chicago Purchasing Manager’s Index will lead a light economic calendar.
On Tuesday, the JOLTS report, which tracks the number of vacancies and the pace of layoffs, is released at 10 a.m. ET for December. In the previous month, a nearly record 10.6 million jobs remained open as more workers quit, with 4.5 million, or about 3% of the workforce, resigning in November, up from September’s peak.
AMERICANS LEAVING JOBS AT A RECORD RATE
Plus car sales, building expenses, and ISM production are released.
It will also be a busy day for Exxon Mobil, UPS and PulteGroup earnings before the market opens.
|XOM||EXXON MOBIL CORP.||75.96||+0.68||+0.90%|
|UPS||UNITED PARCEL SERVICE INC.||202.21||+3.96||+2.00%|
Advanced Micro Devices, General Motors, Google, Starbucks and PayPal will report after the close.
|AMD||ADVANCED MICRO DEVICES INC.||114.25||+9.01||+8.56%|
|PYPL||PAYPAL HOLDINGS INC.||171.94||+8.42||+5.15%|
In management news, Southwest Airlines will welcome new CEO Bob Jordan, succeeding Gary Kelly, who is retiring.
|LUV||Southwest Airlines Co.||44.76||+1.83||+4.26%|
In an email distributed to customers on Friday, Jordan wrote:
“For me, this is a time of gratitude and anticipation. After more than 30 years with Southwest, I have the privilege of taking on the role of CEO on February 1st. When I started at Southwest as a programmer in 1988, I never dreamed it was possible, but at Southwest Airlines, anything is possible. It is an honor to serve you and our staff; I am honored to have the opportunity, ready for the job and excited for what lies ahead for our great company.”
Wynn Resorts will also welcome Craig Billings, who led the casino’s interactive division, to the CEO role.
|WYNN||Wynn Resorts Ltd.||85.45||+1.32||+1.57%|
On Wednesday, investors will get a first taste of the 2022 job market with the release of ADP’s private payrolls report, due at 8:15 a.m. ET. The data is seen as a precursor to the government’s monthly figures due Friday. Weekly mortgage applications are also published.
In terms of results, DR Horton will report before the bell home builders and picking up the pace after the bell with Facebook now known as Meta Platforms, MetLife, T. Mobile, Qualcomm and Spotify reporting.
|goat||DR HORTON INC.||89.22||+3.17||+3.68%|
|FB||META PLATFORMS INC.||313.26||+11.55||+3.83%|
|JOB||SPOTIFY TECHNOLOGY SA||196.26||+23.28||+13.46%|
|TMUS||T MOBILE US INC.||108.17||-0.48||-0.44%|
Spotify is dealing with an artist revolt Neil Young and Joni Mitchell pulled their respective music catalogs from the platform in protest Joe Rogan for spreading misinformation about the pandemic on his podcast, they claimed. Spotify endorsed Rogan.
In addition, OPEC and non-OPEC ministers will meet in Vienna. Oil surpassed $88 a barrel last week.
|USE||UNITED STATES OIL FUND LP||62.48||+0.51||+0.82%|
Chevron CEO Mike Wirth told FOX Business last week that oil could rally to $100 a barrel.
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On Thursday, President Biden will visit New York City and meet with Mayor Adams as gun violence escalates. Last week NYPD Police Det. Jason Rivera, 22, was buried after he was mugged during a trespassing. His partner, Officer Wilbert Mora, 27, was also killed.
This comes as the city’s business leaders and CEOs ramp up the pressure on DA Braggs, who set out a soft anti-crime agenda early in his tenure. Michelle Go, a staff member at Deloitte Consulting, was pushed to death on the Times Square subway tracks last month.
In terms of revenue, Eli Lilly and Hershey will report before the market opens, while Amazon, Ford, News Corp, and Activision Blizzard will report after.
|LLY||ELI LILLY & CO.||245.39||+0.29||+0.12%|
|MRK||MERCK & CO. INC.||81.48||+0.58||+0.72%|
|HSY||THE HERSHEY CO.||197.07||+0.24||+0.12%|
|f||FORD MOTOR CO.||20.30||+0.76||+3.89%|
The video game maker recently announced plans to be acquired by Microsoft for $69 billion, which is the software maker’s largest acquisition.
|ATVI||ACTIVISION BLIZZARD INC.||79.01||-0.13||-0.16%|
In addition, Sotheby’s will open an auction of its 555.55-carat black diamond, called The Enigma. Crypto payments will be accepted until February 9th.
On Friday, the all-important monthly labor market report for January will give a first look at the 2022 labor market.
Employers are expected to have hired 210,000 workers, up from 199,000 in December. According to economists’ estimates, the unemployment rate is likely to remain at 3.9%.