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While the New York Stock Exchange will be closed on Monday in observation of the Memorial Day celebration, investors will still have another week full of business gains and key economic data related to housing, manufacturing and employment.
Ticker Security Last Change% I: DJI DOW JONES AVERAGES 33212.96 +575.77 + 1.76% SP500 S&P 500 4158.24 +100.40 + 2.47% I: COMP NASDAQ COMPOSITE INDEX 12131.1393 , 4%
FOX Business takes a look at upcoming events that are likely to move financial markets in the coming days.
Tuesday 31/5
The start of the week for profit will be HP, Salesforce and Victoria’s Secret after the bell.
Ticker Security Last Change Change% HPQ HP INC. 38.78 +2.02 + 5.48% CRM SALESFORCE INC. 165.10 +2.64 + 1.63% VSCO VICTORIA’S SECRET & CO. 42.67 -1.88 -4.22%
Investors will also take into account the Case-Shiller housing price index, the Federal Housing Finance Agency’s monthly housing price index and consumer confidence.
Ticker Security Last Change Change% ABNB AIRBNB INC. 120.50 + 6.20 + 5.42%
Also on Tuesday, Airbnb will end COVID-19-related rebates.
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Wednesday 6/1
The earnings parade will continue on Tuesday with Capri Holdings, Hovnanian and Vera Bradley reporting ahead of the market opening and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp giving results after the bell.
Ticker Security Last Change Change% CPRI CAPRI HOLDINGS LTD. 47.58 +1.68 + 3.66% HOV HOVNANIAN ENTERPRISES 50.47 +3.18 + 6.72% VRA VERA BRADLEY INC. 6.56 +0.01 + 0.15% CHWY CHEWY INC. CO. 15.79 + 0.65 + 4.26% NTAP NETAPP INC. 73.05 +2.56 + 3.63% PVH PVH CORP. 70.70 + 0.74 + 1.06%
In terms of economic data, investors will digest the Federal Reserve’s Beige Book, construction spending, vehicle sales, the ISM manufacturing PMI, and weekly mortgage applications. The Federal Reserve is also expected to begin reducing its balance sheet.
In addition, New York Fed Chairman John Williams will deliver an opening speech to the Bank and the Monetary Policy Implementation and Digital Innovation Workshop at Columbia University School of International and Public Affairs.
The Fed Chairman of St. Louis, James Bullard, will also make a presentation on U.S. economics and monetary policy ahead of a Memphis Economic Club hybrid event.
Ticker Security Last Change Change% RBAC REDBALL ACQUISITION CORP. 10.07 +0.87 + 9.46% ORCL ORACLE CORP. 72.78 +1.12 + 1.56% CERN CERNER CORP. 94.68 +0.13 + 0.14%
Other highlights include a shareholder vote on the $ 1.35 billion merger of SeatGeek with special-purpose acquisition company RedBall, the end of the Russian central bank’s ban on short sales, a European Commission decision on the $ 23.8 billion acquisition of Cerner by Oracle and the Bank of Canada decision. on interest rates.
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Thursday 6/2
To end the week with gains, Designer Brands, Duluth Holdings, Hormel Foods, Lands’ End and Toro before the market opened and Broadcom, Cooper Companies, CrowdStrike Holdings, lululemon athletica and Okta after the bell.
Ticker Security Last Change Change% DBI DESIGNER BRANDS INC. 15.84 +0.20 + 1.28% DLTH DULUTH HOLDINGS INC 12.51 +0.66 + 5.57% HRL HORMEL FOODS CORP. 48.65 +0.23 + 0.48% LE LANDS END + 13.87% OCD. COO 82.66 +1.75 + 2.16% AVGO BROADCOM INC. 583.28 + 32.62 + 5.92% COO THE COOPER COS. INC. 351.90 +8.04 + 2.34% CRWD CROWDSTRIKE HOLDINGS INC. + 2.15% OKTA OKTA INC. 86.06 + 4.85 + 5.97%
In other market news, Didi Global is expected to formally send its notice of withdrawal to the Securities and Exchange Commission. Thursday also marks the agency’s deadline to decide whether to approve or disapprove a rule change that would allow One River Carbon Neutral Bitcoin Trust shares to be listed on the New York Ark Stock Exchange.
Ticker Security Last Change Change% DIDI DIDI GLOBAL INC 2.01 +0.16 + 8.65%
In terms of economic data, investors will be looking at ADP’s employment report, factory orders, labor costs, productivity, the latest initial and ongoing unemployment claims, and weekly crude oil stocks. the Energy Information Administration.
Cleveland Fed Chair Loretta Mester will also speak on the economic outlook by video conference ahead of the Philadelphia Business Economy Council meeting, and OPEC and non-OPEC members will hold their monthly ministerial meeting related to crude oil production.
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Friday 6/3
The May employment report and ISM’s non-manufacturing PMI will end the week.
Friday also marks the deadline for the Biden administration to provide in-person information on its efforts to improve the quality and timeliness of federal critical mineral authorization processes.