Workers assemble washing machines at the Whirlpool Corp. manufacturing facility in Clyde, Ohio, U.S.
Luke Sharrett | Bloomberg | Getty Images
Here are the most important things to know about Monday before you hit the door.
1. Whirlpool to report earnings
Whirlpool is on deck to release its fourth-quarter earnings after the bell on Monday. Expectations are low ahead of the report as Wall Street is seeing a year-over-year decline in profits.
Analysts are expected the appliance maker to have earned $4.27 per share in the quarter, lower than the $4.75 per share it made in the same period a year ago, according to FactSet.
Whirlpool’s stock outperformed the broad market last year, gaining 38%, even as higher tariffs on imported steel and aluminum, both major components in its appliances, forced the company to raise prices. The stock is up 1.8% in the new year.
2. New home sales
We’ll get an update on the state of the real estate market. The Census Bureau and the Department of Housing and Urban Development are set to release new homes sales numbers for December.
Sales of new homes in December are expected to come in at 730,000, a faster annualized rate than the 719,000 sales in November, according to the consensus estimate from Dow Jones.
3. Coronavirus scare
The spread of the deadly coronavirus rattled financial markets, causing a broad sell-off in stocks and fueling demand for havens in government bonds and gold. Investors will be closely looking for any developments surrounding the virus.
U.S. health officials said Friday they diagnosed a second patient in Chicago with the coronavirus, which originated in China and has also spread to several countries in Asia and Europe. There are 63 cases being monitored in the U.S. that stretch across 22 states, including the first patient in Washington state and the new case in Illinois.
Total confirmed cases globally have now come to 939 with 26 deaths reported.
Major events (all times ET):
10:00 a.m. New home sales
10:30 a.m. Dallas Fed manufacturing
Major earnings:
Arconic (before the bell)
Whirlpool (after the bell)
F5 Networks (after the bell)
