Expert trader Scott Shellady and Fidelity Investments’ John Gagliardi discuss the Fed raising rates and how it will impact the economy.
While the earnings parade will slow down this week, investors will still be watching the release of several important economic indicators, including pending and new home sales, the University of Michigan’s consumer sentiment index and the Fed’s 5-year inflation expectations.
Despite a volatile session on Friday, U.S. stocks had their best week since November 2020. The Dow Jones Industrial Average rose over 265 points or 0.7%, while the S&P 500 and Nasdaq Composite were higher by 1% and 2%, respectively. For the week, the benchmarks saw big gains with the Dow adding 5.5%, the Nasdaq over 8% and the S&P 500 over 6%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34754.93 | +274.17 | +0.80% |
| SP500 | S&P 500 | 4463.12 | +51.45 | +1.17% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13893.837331 | +279.06 | +2.05% |
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Monday 3/21
Kicking off the week will be earnings from FAT Brands, Nike and Tencent Music Entertainment after the bell and the Chicago Fed’s national activity index.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FAT | FAT BRANDS INC. | 8.24 | +0.51 | +6.60% |
| NKE | NIKE INC. | 131.21 | +3.83 | +3.01% |
| TME | TENCENT MUSIC ENTERTAINMENT GROUP | 5.06 | +0.87 | +20.76% |
Atlanta Fed President Raphael Bostic will also speak on “Labor Markets and the Economic Outlook” before the National Association for Business Economics’ 38th Annual Policy Conference.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PYPL | PAYPAL HOLDINGS INC. | 118.77 | +6.61 | +5.89% |
In addition, PayPal and Venmo will start charging a flat fee of 99 cents for cryptocurrency trades between $5 and $25, $1.99 for trades between $25 and $75 and $2.49 for trades between $75 and $200.
Tuesday 3/22
On Tuesday, BuzzFeed and J Jill will be in focus before the market open while Adobe and Poshmark will take the spotlight after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BZFD | 890 5TH AVENUE PARTNERS INC | 4.79 | +0.08 | +1.70% |
| JILL | J.JILL INC. | 15.82 | +0.88 | +5.89% |
| ADBE | ADOBE INC. | 453.33 | +8.97 | +2.02% |
| POSH | POSHMARK INC. | 12.83 | +0.18 | +1.42% |
Tuesday also marks Tesla’s Delivery Day at its Giga Berlin-Brandenburg factory and the launch of Lululemon’s first running shoe in select markets.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 905.39 | +33.79 | +3.88% |
| LULU | LULULEMON ATHLETICA INC. | 316.93 | +9.33 | +3.03% |
On Capitol Hill, the Senate Health & Education committee will hold a hearing examining how to cut costs for working families for child care and preschool and the Senate Banking Committee will hold a hearing on building a resilient economy with a focus on shorting up supply.
Wednesday 3/23
Earnings on the docket for Wedesnday will include Cintas, General Mills and Winnebago before the market open and HB Fuller, KB Home and Steelcase after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CTAS | CINTAS CORP. | 400.37 | +5.39 | +1.36% |
| GIS | GENERAL MILLS INC. | 62.44 | -0.81 | -1.29% |
| WGO | WINNEBAGO INDUSTRIES INC. | 60.87 | +1.62 | +2.73% |
| FUL | H.B. FULLER CO. | 67.19 | -0.47 | -0.70% |
| KBH | KB HOME | 38.46 | +0.64 | +1.69% |
| SCS | STEELCASE INC. | 12.35 | +0.10 | +0.86% |
Investors will also take in new home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC. | 79.41 | -1.11 | -1.38% |
| INTC | INTEL CORP. | 47.47 | +0.33 | +0.70% |
In addition, the chief executives of Intel and Micron are set to testify before the Senate Commerce committee on boosting semiconductor manufacturing and competitiveness.
Thursday 3/24
Wrapping up the week for earnings will be Olive Garden parent Darden Restaurants and FactSet before the market open and Joby Aviation after the bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DRI | DARDEN RESTAURANTS INC. | 133.61 | +3.19 | +2.45% |
| FDS | FACTSET RESEARCH SYSTEMS INC. | 439.10 | +12.15 | +2.85% |
| JOBY | JOBY AVIATION | 5.66 | +0.16 | +2.91% |
Economic data will include the final revision of fourth quarter GDP, durable goods and core capital goods, the current account deficit, the Markit manufacturing and services PMIs and the latest in initial and continuing jobless claims. Federal Reserve Bank of Chicago President Charles Evans will also speak on current economic events and monetary policy before the Detroit Regional Chamber’s 2022 State of the Region event.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TOSYY | TOSHIBA CORP. | 19.83 | +0.41 | +2.11% |
Toshiba will also hold a preliminary vote on a plan to separate the company into two independent, publicly traded companies. The first will consist of its Energy Systems & Solutions, Infrastructure Systems & Solutions, Digital Solutions and Battery businesses, while the other will consist of its Electronic Devices & Storage Solutions business.
President Biden announces that along with the European Union and the Group of Seven countries, the U.S. will move to revoke “most favored nation” trade status for Russia over its invasion of Ukraine, Friday, March 11, 2022, in the Roosevelt Room at t (AP Photo/Andrew Harnik / AP Newsroom)
In addition, President Biden will attend the European Union leaders’ summit in Brussels amid the ongoing conflict between Russia and Ukraine.
Friday 3/25
Wrapping up the week will be Movado Group earnings before the market open and the University of Michigan’s consumer sentiment index, pending home sales and the final reading on 5-year inflation expectations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MOV | MOVADO GROUP INC. | 36.76 | +1.74 | +4.97% |
| AMZN | AMAZON.COM INC. | 3,225.01 | +80.23 | +2.55% |
Amazon workers in Staten Island will also hold an in-person union vote, with the election running through March 30.
