Investors are headed for another busy week ahead of more corporate earnings and key economic data.
The volatile stock market may also continue S&P 500 briefly dips into bear market territory on Friday. Meanwhile, the Nasdaq Composite, already in bear market territory, fell 0.3%. The Dow Jones Industrial Average rose 8.77 points to close at 31,261.90.
|me: DJI||Dow Jones Average||31261.9||+8.77||+0.03%|
|me: compensation||Nasdaq Composite||11354.617127||-33.88||-0.30%|
FOX Business looks at upcoming possible events Financial market in the days to come.
Bank of America warns stocks will fall in stagflation scenario
Monday 23 May
The earnings week after the market opens will be Advance Auto Parts and Zoom Video Communications.
|AAP||ADVANCE AUTO PARTS INC.||181.89||-14.18||-7.23%|
|ZM||Zoom Video Communications||89.74||-1.20||-1.32%|
Former Federal Reserve Chairman Ben Bernanke will also participate in a Q&A on the future of monetary policy at 11:00 a.m. ET.
Didi global shareholders will also vote on plans to delist from the New York Stock Exchange.
World Economic Forum 2022: What you need to know
In politics, President Biden will meet with Japanese Prime Minister Fumio Kishida. In international news, Ukrainian President Volodymyr Zelensky will address participants of the World Economic Forum in Davos, Switzerland.
Fed’s Bullard says recession will only happen if economy takes ‘big shock’
Tuesday 24th May
Tuesday’s gains included Abercrombie & Fitch, AutoZone, Best Buy and Ralph Lauren before the market opened, and Intuit, Nordstrom, Toll Brothers and Urban Outfitters after the market opened.
|ANF||ABERCRROMBIE & FITCH COMPANY||27.97||-1.09||-3.75%|
|azo||Auto Zone Corporation||1,771.68||-117.71||-6.23%|
|BBY||best buy co., ltd.||72.36||-0.96||-1.31%|
|reinforcement learning||ralph lauren co.||93.24||+1.15||+1.25%|
|city network||city clothing company||19.98||-0.29||-1.43%|
New home sales will also be released.
Other notable events include the Department of Energy’s Planned Sales Notification An additional 40 million barrels of crude from the Strategic Petroleum Reserve will be delivered in June, with a four-party meeting of Japan, the United States, Australia and India in Tokyo.
|USO||American Oil Fund LLC||81.65||+1.07||+1.33%|
|BNO||US Brent Crude Oil FD LP Units||32.28||+0.42||+1.32%|
One-third of Americans are experiencing financial stress as inflation soars: survey
Wednesday 25th May
Dick’s Sporting Goods and Express will be in the earnings spotlight before Wednesday’s open, while Box, Nvidia Snowflake and Splunk will be in focus after the bell.
|DKS||dick sporting goods co.||77.52||-1.74||-2.20%|
On the economic data front, investors will digest durable goods, Federal Reserve minutes, weekly mortgage applications and weekly crude oil inventories from the Energy Information Administration. The Congressional Budget Office will also release its 2022-2023 budget and economic outlook.
|RBGLY||RECKITT BENCKISER GROUP LIMITED||15.79||+0.34||+2.17%|
Food and Drug Administration officials and executives from Abbott Nutrition, Nestlé’s Gerber Products Company and Enfamil maker Reckitt will also testify before the House Energy and Business Oversight and Investigations Subcommittee on the national infant formula shortage.
|Meta Platform Company||193.54||+2.25||+1.18%|
Additionally, Twitter, Amazon, and Meta Platforms will all hold annual shareholder meetings.
In particular, Twitter’s upcoming acquisition of Elon Musk and Amazon’s proposed 20-for-1 stock split will be resolved.
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Thursday 26 May
Gains for the closing week will be for Buckle, Dollar General, Jack in the Box, Macy’s and Medtronic before the market opens and after Gap, Lionsgate, Ulta Beauty and Workday.
|dangerous goods||dollar head office||187.60||-13.73||-6.82%|
|Jack||Jack in a Box||71.18||-1.85||-2.53%|
|Global Positioning System||Gap Corporation||10.93||-0.26||-2.32%|
|growth factor||Lionsgate Entertainment||12.16||-0.45||-3.57%|
|ULTA||ULTA BEAUTY INC.||343.05||-8.26||-2.35%|
|working day||working day company||165.99||+1.47||+0.89%|
As for economic data, investors will be closely watching the second estimate of first-quarter GDP, pending home sales and the latest initial and continuing jobless claims.
Florida will also host a two-day Bitcoin and Blockchain Summit starting Thursday at the Orlando Hilton Resort. The meeting will focus on how to “navigate the turbulent waters ahead as the country slides into recession due to hyperinflation”. Bitcoin, along with other cryptocurrencies, has seen downward pressure along with U.S. stocks.
Live encrypted data: click here
|UAL||United Airlines Holdings||43.55||-0.66||-1.49%|
|Bachelor of Arts||Boeing||120.70||-6.44||-5.07%|
Additionally, United Airlines expects to resume Boeing 777 service on a limited basis starting Thursday after the plane was grounded due to an engine fire during a February 2021 flight from Denver to Honolulu.
Friday 27th May
Economic data ending the week will be the University of Michigan’s Consumer Confidence Index, Personal Income and Personal Consumption.
Former President Donald Trump will also speak at the National Rifle Association’s Legislative Action Leadership Forum.