Jobs report, Fed decision, CVS earnings top week ahead

Jobs report, Fed decision, CVS earnings top week ahead

Investors are slated to digest the Fed’s decision on interest rates, key jobs and manufacturing data and a slew of corporate earnings in the upcoming week.

On Friday, the Nasdaq Composite dropped 4% and paced the declines as the volatile and losing month ended for equities. The S&P 500 fell 3.6%, while the Dow Jones Industrial Average lost 2.7% or over 900 points. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 32977.21 -939.18 -2.77%
SP500 S&P 500 4131.93 -155.57 -3.63%
I:COMP NASDAQ COMPOSITE INDEX 12334.640025 -536.89 -4.17%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. 

Monday 5/2

Loews Corporation, Moody’s and Six Flags Entertainment will be among the companies leading earnings before the market open on Monday. Meanwhile, companies taking the spotlight after the bell will include Avis Budget Group, Clorox, Devon Energy, Diamondback Energy, Expedia and Willams Companies.  

Ticker Security Last Change Change %
L LOEWS CORP. 62.85 -1.72 -2.66%
MCO MOODY’S CORP. 316.75 -9.87 -3.02%
SIX SIX FLAGS ENTERTAINMENT CORP. 38.27 -1.28 -3.24%
CAR AVIS BUDGET GROUP INC. 267.67 -5.38 -1.97%
CLX THE CLOROX CO. 143.57 -4.74 -3.20%
DVN DEVON ENERGY CORP. 58.17 -1.72 -2.87%
FANG DIAMONDBACK ENERGY INC. 126.23 -3.24 -2.50%
EXPE EXPEDIA GROUP INC. 174.75 -8.65 -4.72%
WMB THE WILLIAMS COS. INC. 34.28 -0.55 -1.56%

As for economic data, investors will take in construction spending, the S&P Global U.S. manufacturing PMI and the ISM manufacturing PMI. In addition, the CME will expand its suite of micro metals products with the launch of micro copper futures, which will be one-tenth the size of a standard sized Copper futures contract and will be cash settled.

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 2,485.63 -406.30 -14.05%

Another union election will also wrap up at Amazon’s LDJ5 warehouse on Staten Island on Monday. If the election is successful, LDJ5 would be the second facility to form a union, following the historic victory at the e-commerce giant’s JFK8 warehouse earlier this month. 

Tuesday 5/3

The earnings parade will continue on Tuesday with big names including Estee Lauder, Hilton Worldwide, Pfizer, Restaurant Brands International and Teva Pharmaceuticals reporting before the market open. After the bell, Advanced Micro Devices, Airbnb, Caesars Entertainment, Denny’s, Lyft and Starbucks are all slated to deliver earnings results. 

Ticker Security Last Change Change %
EL THE ESTÉE LAUDER COMPANIES INC. 263.94 -8.40 -3.08%
HLT HILTON WORLDWIDE HOLDINGS INC. 155.29 -5.93 -3.68%
PFE PFIZER INC. 49.07 -1.44 -2.85%
RBI n.a. n.a. n.a. n.a.
TEVA TEVA PHARMACEUTICAL INDUSTRIES LTD. 8.71 -0.24 -2.68%
AMD ADVANCED MICRO DEVICES INC. 85.52 -4.12 -4.60%
ABNB AIRBNB INC. 153.21 -6.53 -4.09%
CZR CAESARS ENTERTAINMENT INC. 66.28 -1.11 -1.65%
DENN DENNY’S CORP. 12.82 -0.29 -2.21%
LYFT LYFT INC. 32.60 -0.96 -2.86%
SBUX STARBUCKS CORP. 74.64 -1.94 -2.53%

The JOLTs report will be the main event on Tuesday for economic data. In addition, factory orders and motor vehicle sales will be in focus. The Federal Reserve will also kick off its two-day policy-setting meeting on interest rates. 

Wednesday 5/4

Earnings on the docket for Wednesday include CVS, Dine Brands Global, Ferrari, Marriott International, Moderna, Wingstop and YUM! Brands before the market open and Allstate, eBay, Etsy, Hostess Brands and Uber after the bell. 

Ticker Security Last Change Change %
CVS CVS HEALTH CORP. 96.11 -4.84 -4.79%
DIN DINE BRANDS GLOBAL INC. 71.69 -2.27 -3.07%
RACE FERRARI NV 209.74 -4.30 -2.01%
MAR MARRIOTT INTERNATIONAL INC. 177.52 -7.04 -3.81%
MRNA MODERNA INC. 134.41 -8.11 -5.69%
WING WINGSTOP INC 91.76 -6.02 -6.16%
YUM YUM! BRANDS INC. 117.01 -2.51 -2.10%
ALL THE ALLSTATE CORP. 126.54 -3.80 -2.92%
EBAY EBAY INC. 51.92 -1.85 -3.44%
ETSY ETSY INC. 93.19 -8.69 -8.53%
TWNK HOSTESS BRANDS INC. 22.69 -0.06 -0.26%
UBER UBER TECHNOLOGIES INC. 31.48 -1.34 -4.08%

Economic data will include the Fed’s decision on interest rates, the ADP national employment report, the ISM non-manufacturing PMI, weekly mortgage applications, the Energy Information Administration’s weekly crude stocks and the international trade balance. 

Wednesday also marks the deadline for the Education Department to respond to Sen. Elizabeth Warren and other lawmakers’ questions on student loans.

Thursday 5/5

Conoco Phillips, Crocs, Hain Celestial Group, Hanesbrands, Intercontinental Exchange, Kellogg, Papa John’s, Penn National Gaming, Royal Caribbean, SeaWorld Entertainment, Shopify and Wayfair will be among the companies delivering earnings results on Thursday before the market open. 

Ticker Security Last Change Change %
COP CONOCOPHILLIPS 95.52 -2.03 -2.08%
CROX CROCS INC. 66.43 -1.39 -2.05%
HAIN THE HAIN CELESTIAL GROUP INC. 33.54 -0.88 -2.56%
HBI HANESBRANDS INC. 13.28 -0.39 -2.85%
ICE INTERCONTINENTAL EXCHANGE INC. 115.71 -3.57 -2.99%
K KELLOGG CO. 68.49 -1.05 -1.51%
PZZA PAPA JOHN’S INTERNATIONAL INC. 91.05 -0.99 -1.08%
PEN PENUMBRA 172.56 -2.51 -1.43%
RCL ROYAL CARIBBEAN GROUP 77.73 -2.96 -3.67%
SEAS SEAWORLD ENTERTAINMENT INC 67.45 -1.34 -1.95%
SHOP SHOPIFY INC. 427.03 -16.85 -3.80%
W WAYFAIR INC. 76.91 -6.47 -7.76%

After the bell, investors will take in earnings from Block, DoorDash, Dropbox, FAT Brands, News Corp, Potbelly, Redfin, Shake Shack, Texas Roadhouse, Virgin Galactic, WW International, Yelp, Zillow Group.

Ticker Security Last Change Change %
SQ BLOCK INC. 99.54 -5.10 -4.87%
DASH DOORDASH INC. 81.43 -5.96 -6.82%
DBX DROPBOX INC. 21.75 -0.71 -3.16%
FAT FAT BRANDS INC. 5.95 +0.20 +3.48%
NWSA NEWS CORP. 19.86 -0.56 -2.74%
SHAK SHAKE SHACK 57.83 -2.33 -3.87%
TXRH TEXAS ROADHOUSE INC. 82.33 -2.04 -2.42%
SPCE VIRGIN GALACTIC HOLDINGS INC. 7.49 -0.41 -5.19%
WW WW INTERNATIONAL INC. 9.79 -0.32 -3.17%
YELP YELP INC. 32.53 -1.14 -3.39%
ZG ZILLOW GROUP INC. 38.65 -0.96 -2.42%

On the economic data front, investors will be watching labor costs and productivity for the first quarter of 2022 and the latest in initial and continuing jobless claims. Thursday also marks the deadline for Russian-based companies to pull their depositary receipts from foreign exchanges.

Friday 5/6

Wrapping up the week will be earnings from Cigna, Cinemark Holdings, DraftKings, Ruth’s Hospitality Group and Under Armour before the market open, the April jobs report and March consumer credit. 

Ticker Security Last Change Change %
CI CIGNA CORP. 246.79 -7.38 -2.90%
CNK CINEMARK HOLDINGS INC. 15.86 0.00 0.00%
DKNG DRAFTKINGS INC. 13.68 -0.42 -2.98%
RUTH RUTH’S HOSPITALITY GROUP INC. 20.97 -0.10 -0.47%
UAA UNDER ARMOUR INC. 15.37 -0.27 -1.73%

New York Fed president John Williams will also give opening remarks before the bank’s Environmental Economics and Policy event hosted in partnership with the Columbia University Center for Environmental Economics and Policy.

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