Here's what to expect from Wall Street

318
3
Here's what to expect from Wall Street

After a week of heightened volatility, stocks are poised for a rebound. On Friday, the Dow Jones Industrial Average experienced its best day since late 2020 as investors bargained beaten down stocks impacted by uncertainty over Russia's invasion of Ukraine. The Dow rose over 834 points, or 2.5%, while the S&P 500 and Nasdaq Composite rose 2.2% and 1.6%.

The upcoming events that are likely to move in the coming days are looked at by FOX Business.

Before the market opens on Monday, Lordstown Motors, Nielsen, Party City and Tegna will be in attendance and SmileDirectClub, Workday and Zoom Video Communications will be on the job after the bell. Investors will take in the Chicago purchasing managers index.

Raphael Bostic will be speaking on The Federal Reserve and the Economy and participate in a moderated conversation with Harvard University EC 10 class students before the virtual event.

In addition, Procter Gamble will raise prices on laundry products, including Tide, Gain, Bounce and Unstopables.

On Tuesday, AutoZone, Chico's FAS, Domino's Pizza, Hormel Foods, Hostess Brands, Kohl's, Target and Wendy's will be among the companies leading earnings before the market opens.

AMC Entertainment, Hewlett-Packard Enterprise, Nordstrom, Ross Stores, Saleforce.com, Urban Outfitters and WW International will take the earnings spotlight after the bell.

The Markit Manufacturing PMI, construction spending, and the ISM manufacturing index are among the economic data on the docket for Tuesday. Bostic will participate in a moderated discussion entitled Survey of Business Uncertainty before the Atlanta Fed's Virtual Business Uncertainty Panel Member Economic Briefing and Policy Discussion In the world of politics, President Biden is going to deliver his first State of the Union address since taking office. Other notable events on Capitol Hill include a series of House hearings on topics such as small businesses and competition, the effects of the American Rescue Plan's state and local fiscal recovery funds, retirement security and access to mental health benefits, and a review of NASA's Artemis initiative.

Abercrombie Fitch and Dollar Tree will deliver earnings results before the market opens on Wednesday, while American Eagle Outfitters, Okta, Snowflake and Victoria's Secret will be in focus after the bell.

Wednesday's economic data will include the ADP national employment report, the Beige Book and the latest on weekly mortgage applications and the Energy Information Administration's weekly crude stocks.

The Federal Reserve will continue to make rounds with Jerome Powell giving testimony on monetary policy to Congress on Wednesday and Thursday. The Chicago Fed president Charles Evans will speak on current economic conditions and monetary policy before the hybrid Lake Forest-Lake Bluff Rotary Club 2022 Economic Update event.

Big Lots, BJ s Wholesale Club, Burlington Stores, Kroger, Toro and UTZ Brands will be among the few businesses that will be closing the week for earnings, and Costco Wholesale, Gap and Smith Wesson Brands after the bell.

Thursday will be the busiest day for economic data with revisions for labor costs, productivity and core capital equipment orders, factory orders, the ISM services index, Markit services PMI and the latest on initial and continuing jobless claims. New York Fed President John Williams will be a guest speaker at the Council for Economic Education's Virtual Economists on the Economy event.

Other notable events on Thursday include DraftKings' virtual investor day and the release of Drake's first sneaker collaboration with Nike.

The February jobs report will be the last to be released in the week for economic data.

Royal Caribbean's Wonder of the Seas, the world's largest cruise ship, will sail for the first time ever from Port Everglades.