BNP Paribas chief U.S. economist Carl Riccadonna and Carnivore Trading CEO Dutch Masters discuss whether the September jobs report cements a Fed 75 basis point rate hike in November on ‘The Claman Countdown.’
The upcoming week will be dominated by earnings from several big banks as well as key economic data, including the Consumer and Producer Price Indexes.
U.S. stocks ended the session lower across the board on Friday after the September jobs report stoked fears that the Federal Reserve will remain aggressive with interest rate hikes. Despite the selloff, all three major indices finished higher for the week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 29296.79 | -630.15 | -2.11% |
| SP500 | S&P 500 | 3639.66 | -104.86 | -2.80% |
| I:COMP | NASDAQ COMPOSITE INDEX | 10652.404713 | -420.91 | -3.80% |
FOX Business takes a look at the upcoming events likely to move financial markets in the coming days.
STOCK MARKET NEWS: JOBS DATA SINKS DOW, S&P, NASDAQ, OIL TOPS $92 AFTER OPEC PUNCH
Monday 10/10
Monday will be quiet for earnings and economic data. However, Digital World Acquisition Corporation will be a stock to watch as it holds a special meeting asking shareholders to extend the deadline to merge with Trump Media and Technology Group.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DWAC | DIGITAL WORLD ACQUISITION CORP. | 17.32 | -0.26 | -1.48% |
Chicago Fed president Charles Evans will participate in a moderated question-and-answer session with the Illinois Chamber of Commerce.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 87.03 | -2.32 | -2.60% |
Other notable events include the International Monetary Fund and the World Bank’s in-person annual meetings, which will run through Oct. 16, and Fitch’s planned withdrawal of its rating on Starbucks.
Tuesday 10/11
The NFIB’s Business Optimism Index and New York Federal Reserve’s five-year inflation expectations will take center stage for economic data on Tuesday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 114.56 | -5.74 | -4.77% |
| META | META PLATFORMS INC. | 133.45 | -5.62 | -4.04% |
Meta Platforms will also hold a virtual Connect conference exploring augmented and virtual reality, which will be key to the metaverse ambitions of the parent of Facebook. Amazon will give Prime members exclusive early access to holiday deals on Oct. 11 and 12.
Wednesday 10/12
PepsiCo will kick off earnings before the U.S. markets open.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PEP | PEPSICO INC. | 161.61 | -1.19 | -0.73% |
Meanwhile, the Producer Price Index and latest Fed minutes will be in focus for economic data.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 234.24 | -12.55 | -5.09% |
Microsoft will hold a special event to show off the latest hardware in its Surface product line.
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Thursday 10/13
Earnings on the docket before the markets open Thursday include investment bank BlackRock, Delta Air Lines, Domino’s Pizza, fastener distributor Fastenal and Walgreens Boots Alliance. Progressive will take the earnings spotlight after the closing bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 550.43 | -21.09 | -3.69% |
| DAL | DELTA AIR LINES INC. | 29.40 | -1.23 | -4.02% |
| DPZ | DOMINO’S PIZZA INC. | 314.52 | -9.70 | -2.99% |
| FAST | FASTENAL CO. | 45.85 | -1.53 | -3.23% |
| WBA | WALGREENS BOOTS ALLIANCE INC. | 30.52 | -1.73 | -5.36% |
| PGR | PROGRESSIVE CORP. | 122.04 | +0.04 | +0.03% |
As for economic data, investors will digest the Consumer Price Index, the Energy Information Administration’s weekly crude oil inventories and the latest in initial and continuing jobless claims.
Friday 10/14
Wrapping up the week will be earnings from Citigroup, First Republic Bank, JPMorgan Chase, Morgan Stanley, PNC Financial Services, UnitedHealth Group, US Bancorp and Wells Fargo.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| C | CITIGROUP INC. | 42.22 | -0.83 | -1.93% |
| FRC | FIRST REPUBLIC BANK (SAN FRANCISCO CALIFORNIA) | 136.98 | -2.10 | -1.51% |
| JPM | JPMORGAN CHASE & CO. | 105.99 | -2.24 | -2.07% |
| MS | MORGAN STANLEY | 78.93 | -2.38 | -2.93% |
| PNC | THE PNC FINANCIAL SERVICES GROUP INC. | 151.34 | -4.37 | -2.81% |
| UNH | UNITEDHEALTH GROUP INC. | 505.33 | -13.80 | -2.66% |
| USB | U.S. BANCORP | 40.21 | -0.87 | -2.12% |
| WFC | WELLS FARGO & CO. | 41.79 | -0.45 | -1.07% |
Investors will see reports on import and export prices, retail sales, business inventories and the University of Michigan’s Consumer Sentiment Index.
