It will be a busy week for retail earnings and major economic reports, along with the first anniversary of the Russian invasion of Ukraine.
The stock market is coming off a rough week of trading with all three major indexes, the Nasdaq Composite, the S&P 500 and the Dow Jones Industrial Average finishing little changed.
Stock Ticker Last Change Change %I:COMP NASDAQ COMPOSITE INDEX 11787.271825 -68.56 -0.58%SP500 S&P 500 4079.09 -11.32 -0.28%I:DJI DOW JONES AVERAGES 33826.69 +129.84 +0.39%
FOX Business breaks down this week’s key market events:
The US Supreme Court building (AP Photo / Alex Brandon / File / AP Newsroom)
Monday 20 February
STICKY INFLATION OPENS THE DOOR FOR A FED RATE RISE IN MARCH
The stock and bond markets will be closed on Monday for President’s Day.
Also, AmazonSmile closes on Monday. Launched in 2013, it has enabled customers to support their choice of over 1 million charities worldwide with every purchase. The retailer felt it was too widespread and now wants to narrow down the number of charities it supports.
Tuesday February 21st
Russian President Vladimir Putin will deliver his state of the nation address to the Russian people three days before the first anniversary of his country’s invasion of Ukraine.
Supreme Court to hear oral arguments for Gonzalez v. Google. This case is about whether Google can be held liable for third-party content that its algorithms and search engine recommend to users. The Brookings Institution calls this “a case with the power to reshape the Internet.”
GOOGLE SAYS SUPREME COURT JUDGMENT COULD POTENTIALLY BREAK THE INTERNET
Ticker Security Last Change Change %GOOG ALPHABET INC. 94.59 -1.19 -1.24%
Before the markets open, investors will be getting earnings from Walmart and hearing any information on inflation and consumer spending from the nation’s largest retailer.
In addition, Medtronic and Molson Coors Beverage will also report.
Ticker Security Last Change Change %MDT MEDTRONIC PLC 84.80 +0.60 +0.71%TAP MOLSON COORS BEVERAGE CO. 52.01 +0.61 +1.20%
After-bell earnings will include Coinbase, Palo Alto Networks, Public Storage, Realty Income, and SBA Communications.
Ticker Security Last Change Change %COIN COINBASE GLOBAL INC. 65.20 -0.39 -0.59%PANW PALO ALTO NETWORKS INC. 169.28 -2.74 -1.59%PSA PUBLIC STORAGE 299.01 -0.99 -0.33%O REALTY INCOME CORP. SBA COMMUNICATIONS CORP. 281.24 -2.35 -0.83%
The economic date released on Tuesday will include the S&P Global Flash Manufacturing PMI, S&P Global Flash Services PMI and Existing Home Sales. Both flash PMIs are expected to improve, but remain below 50, meaning industries are still contracting, but at a slower pace. Expectations for existing home sales are also optimistic.
Wednesday February 22nd
On Wednesday, the Supreme Court will hear oral arguments for Twitter Inc. v. Taamneh, a case involving social media content moderation with broader implications for other platforms. The case hopes to shed light on how far platforms like Twitter are expected to go in moderating the content of extremist groups.
Earnings before market open will include Baidu, Garmin, TJX Cos. and Wingstop.
Ticker Title Last Change Change %BIDU BAIDU INC. 141.71 -7.30 -4.90%GRMN GARMIN LTD. 97.06 -0.13 -0.13%TJX THE TJX COS. INC. 79.83 +0.21 +0.26%WING WINGSTOP INC 173.49 +0.70 +0.41%
While post-market close earnings will include Cheesecake Factory, eBay, Marriott Vacations Worldwide, Nvidia and Sleep Number.
Ticker Security Last Change Change %CAKE CHEESECAKE FACTORY INC. 40.10 -0.32 -0.79%EBAY EBAY INC. 48.24 -0.42 -0.86%VAC MARRIOTT VACATIONS WORLDWIDE CORP. 157.72 -1.64 -1.03%NVDA NVIDIA CORP. CORP. SLEEP NUMBER 33.89 +0.17 +0.50%
Mortgage applications are due Wednesday and the Federal Open Market Committee will release its minutes at 2:00 p.m. from the previous meeting, and New York Fed Chairman John Williams will give a speech at 6:30 p.m.
John Williams is president and chief executive officer of the Federal Reserve Bank of New York. (Reuters/Carlo Allegri/File) (Photo Reuters)
Thursday 23 February
Federal Reserve Bank of Atlanta President Raphael Bostic will give a speech at 10:50 on Thursday
In the morning, earnings will include Alibaba, Domino’s Pizza, Keurig, Dr. Pepper, Moderna and NetEase.
Ticker Security Last Change Change %BABA ALIBABA GROUP HOLDING LTD. 100.04 -3.11 -3.02%DPZ DOMINO’S PIZZA INC. 357.20 +0.56 +0.16%KDP KEURIG DR PEPPER INC. 35.67 -0.23 -0.64%MRNA MODERNA INC. 166.60 -5.71 -3.31%NTES NETEASE INC.
While after markets close, earnings will include Autodesk, Booking Holdings, Carvana, Intuit and Warner Bros Discovery.
Ticker Security Last Change Change %ADSK AUTODESK INC. 219.98 -2.15 -0.97%BKNG BOOKING HOLDINGS INC. 2,462.01 -31.17 -1.25%CVNA CARVANA CO. 11.37 +0.45 +4.12%INTU INTUIT INC. . DISCOVERY INC. 15.43 +0.12 +0.78%
Economic data released on Thursday will include corporate profits, fourth-quarter GDP (second estimate), initial jobless claims, national activity index, weekly EIA crude inventories and Fed manufacturing index of Kansas City.
Friday 24 February
Friday will mark the first anniversary of the Russian invasion of Ukraine. Ukraine’s defense minister has warned that Russia could launch a new offensive or missile barrage to mark the anniversary.
A woman cries outside houses damaged by a Russian airstrike in Gorenka, Ukraine, March 2, 2022. (AP Photo/Vadim Ghirda/AP Newsroom)
On the day, Ukrainian President Volodymyr Zelenskyy will address the United Nations General Assembly meeting and the New York City Metropolitan Opera will present “For Ukraine: A Concert of Memory and Hope”.
Loretta Mester of the Federal Reserve Bank of Cleveland will give a keynote address at 10:15
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Morning earnings to round out the week will include Cinemark, EW Scripps, Evergy, FuboTV, and HF Sinclair.
Ticker Title Last Change Change %CNK CINEMARK HOLDINGS INC. 11.68 -0.13 -1.10%SSP THE EW SCRIPPS CO. 14.75 +0.11 +0.75%EVRG EVERGY INC. GROUP 19.40 -0.06 -0.31%
Friday’s economic data will include building permits, personal income, personal consumption, University of Michigan consumer sentiment index (final), new home sales and state personal consumption expenditure index. Dallas Fed.
