Investors can look forward to an engaging week with Disney holding its annual shareholder meeting, a slew of employment-related data coming out and other events.
The stock market closed out last week on highs. As of Friday, the Nasdaq Composite saw an increase of 2.98% from where it opened at the start of the week, while the Dow Jones Industrial Average was up 3.09%. The S&P 500 rose 3.17% in the same time frame.
FOX Business looks at some big market events in the week ahead.
Before the market opens Monday, tech company Science Applications International will put out its fourth-quarter earnings.
DISNEY TO BEGIN LAYING OFF EMPLOYEES
Many eyes will be on the Walt Disney Co. as its annual shareholders meeting kicks off at 1 p.m. ET.
It will be CEO Bob Iger’s first since returning to the company roughly four months ago.
With Iger back in charge, the entertainment giant has been undergoing a reorganization that has seen its business segments become Disney Entertainment, ESPN and Disney Parks, Experiences and Products.
It also began laying off employees in the first of three rounds of job cuts announced in February. The layoffs will ultimately trim Disney’s headcount by about 7,000 workers.
Investors will also be looking for an update on Disney+ and its path to profitability.
The special tax district encompassing Walt Disney World in Florida has also been in focus lately, with the board appointed by Gov. Ron DeSantis to run it seeing its authority lessened by the outgoing one.
A virtual meeting of OPEC+ is also scheduled.
In the morning, a few sets of economic data will be released, including the Job Openings and Labor Turnover Survey (JOLTS), durable goods and factory orders, at 10 a.m. ET. JOLTS is one of the datasets the Federal Reserve keeps a close eye on.
Acuity Brands and Kirkland’s will release their latest earnings.
Loretta Mester, president of the Federal Reserve Bank of Cleveland, is expected to talk economic and policy outlook during a speech to the Money Marketeers of New York University Inc.
Tuesday will also mark a century since Warner Bros. Studios was founded, according to a press release from Warner Bros. Discovery.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
In earnings, Conagra Brands and Simply Good Foods will release results.
Walmart, as part of its 2023 Investment Community Meeting, will have CEO Doug McMillon, CFO John David Rainey and other top executives speak on the retailer’s “strategic plans,” according to an announcement from the company. The start time for those presentations is 8 a.m. ET.
Another company, FedEx, is holding an investor event as well. Starting at 8:30 a.m. ET, CEO Raj Subramaniam and other FedEx leaders will give an update on efforts to save over $4 billion in “annualized structure cost reductions” by fiscal 2025.
FEDEX CUTTING OVER 10% OF MANAGEMENT ROLES
On the economic front, investors will get the latest ADP National Employment report and EIA weekly crude stocks.
House Speaker Kevin McCarthy and Taiwanese President Tsai Ing-Wen are scheduled to have a meeting in California. That prompted threats of reprisal from China, The Associated Press reported.
Constellation Brands, Lamb Weston, Levi Strauss and WD-40 all have earnings releases teed up Thursday, with the former two slated for the morning and the latter two for the afternoon.
The Federal Reserve Bank of St. Louis President also has a morning presentation scheduled. It is expected to focus on monetary policy and the economy.
Investors will see challenger layoffs and initial jobless claims data come out.
Friday will start with a SpaceX Falcon 9 rocket scheduled to take off from Cape Canaveral, Florida, early in the morning. It will be carrying an Intelsat communications satellite.
NASA’S SPACEX CREW-5 SPLASHES DOWN ON EARTH AFTER 5-MONTH MISSION ABOARD ISS
Non-farm payrolls and the unemployment rate are slated for an 8:30 a.m. ET release. In the afternoon, another piece of economic data — consumer credit — will come out.