Russia-Ukraine, inflation and jobs data, Apple event top week ahead


Investors are in for another busy week of earnings and economic data, including the JOLTS report and consumer price index, as uncertainty over the Russia-Ukraine crisis continues to weigh on the markets. 

Stocks finished lower on Friday as the escalating conflict overshadowed solid jobs growth with 678,000 additions in February. The Dow Jones Industrial Average fell 180 points or 0.5%, while the S&P 500 and Nasdaq Composite fell by 0.8% and 1.7%, respectively.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33614.8 -179.86 -0.53%
SP500 S&P 500 4328.87 -34.62 -0.79%
I:COMP NASDAQ COMPOSITE INDEX 13313.438007 -224.50 -1.66%

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

RUSSIA, UKRAINE HITS STOCKS IN DOWN WEEK AS OIL TOPS $115

Monday 3/7

Earnings for the week will kick off telecommunications equipment and software services supplier Ciena before the market open and IDT and thredUP after the bell. As for economic data, investors will be watching for the latest on consumer credit. 

Ticker Security Last Change Change %
CIEN CIENA CORP. 65.94 -3.08 -4.46%
IDT IDT CORP 32.87 -2.85 -7.98%
TDUP THREDUP INC. 7.02 -0.61 -7.99%

On Capitol Hill, the Senate Foreign Relations committee will hold a closed briefing on Russia’s invasion of Ukraine. Monday also marks the deadline for expelled Russia diplomats to leave the United States. In addition, the World Court will hold hearings on Monday and Tuesday on whether they should order “provisional measures” in response to a lawsuit brought against Russia by the Ukraine seeking to halt Moscow’s invasion of the country. 

UKRAINE RUSSIAN WAR CREATING ‘HUGE SUPPLY SHOCK’: WORLD BANK PRESIDENT

Tuesday 3/8

Earnings will continue on Tuesday with Barnes & Noble Education, Dick’s Sporting Goods and Petco before the market open and Bumble, Casey’s General Stores and Stitch Fix after the bell. 

Ticker Security Last Change Change %
BNED BARNES & NOBLE EDUCATION INC COM 5.04 -0.30 -5.62%
DKS DICK’S SPORTING GOODS INC. 109.72 -2.69 -2.39%
WOOF PETCO HEALTH AND WELLNESS COMPANY INC. 18.24 +0.22 +1.22%
BMBL BUMBLE INC. 18.08 -1.40 -7.19%
CASY CASEY’S GENERAL STORES INC. 190.41 +1.57 +0.83%
SFIX STITCH FIX INC. 11.17 -0.48 -4.12%

Economic data on the docket for Tuesday includes the NFIB’s business optimism index, the international trade deficit and revision of wholesale inventories.

Ticker Security Last Change Change %
AAPL APPLE INC. 163.17 -3.06 -1.84%

It will also be a big day for Apple, who will hold a special online event, dubbed “Peeked Performance.” Reports have speculated that Apple could announce a new low-cost iPhone SE that will feature 5G capabilities, camera upgrades and a faster processor. In addition, the rumors suggest the tech giant could unveil a new iPad Air with 5G capabilities and a newer chip and at least one new Mac laptop with Apple-designed chips. 

Apple will hold a special online event on March 8, which will be broadcast live from Apple Park. (Apple)

On Capitol Hill, Congress is expected to vote on a spending bill to fund the U.S. government through the end of September. 

In addition, the Senate will hold hearings on the U.S. and international response to Russia’s invasion of Ukraine, US Strategic Command and US Space Command’s defense authorization request and a closed briefing on the Department of Defense’s cyber operations. Meanwhile, the House will hold hearings on worldwide threats, the Small Business Innovation Research and Technology Transfer programs, mandatory arbitration in financial service products, American manufacturing of electric vehicles, ensuring women can thrive in the post-pandemic economy and a review of the Farm Bill. 

MORTGAGE RATES DROP AMID RUSSIA-UKRAINE WAR

Wednesday 3/9

The earnings parade continues on Wednesday with Campbell Soup, Express, Oatly Group, United Natural Foods, Vera Bradley in focus before the market open and Asana and CrowdStrike taking the spotlight after the bell. 

Ticker Security Last Change Change %
CPB CAMPBELL SOUP CO. 45.55 0.00 0.00%
EXP EAGLE MATERIALS INC. 134.16 -0.76 -0.56%
OTLY OATLY GROUP AB 6.18 -0.48 -7.21%
UNFI UNITED NATURAL FOODS INC. 42.29 +1.37 +3.35%
VRA VERA BRADLEY INC. 7.16 -0.29 -3.89%
ASAN ASANA INC. 45.44 -3.23 -6.64%
CRWD CROWDSTRIKE HOLDINGS INC. 179.03 -11.99 -6.28%

The main event for economic data on Wednesday will be the JOLTs report. Other economic data being released Wednesday includes weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.

Ticker Security Last Change Change %
DIS THE WALT DISNEY CO. 140.70 -4.90 -3.37%

Disney will also hold its annual meeting Wednesday, where shareholders will vote on a variety of proposals, including CEO Bob Chapek’s re-election to the board of directors. 

Bob Chapek Disney

Anaheim, CA – June 02: Bob Chapek, Chief Executive Officer of The Walt Disney Company during the opening ceremony for Avengers Campus inside Disney California Adventure in Anaheim, CA, on Wednesday, June 2, 2021. (Photo by Jeff Gritchen/MediaNews Gro (Photo by Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images / Getty Images)

Wednesday also marks the deadline to apply for federal funds for expanding high-speed internet access for rural America.

CLICK HERE TO READ MORE ON FOX BUSINESS

Thursday 3/10

Thursday will mark the busiest day for earnings with Build-A-Bear Workshop, Duluth Holdings, JD.com, Vita Coco and Wheels Up Experience all before the market open. 

Ticker Security Last Change Change %
BBW BUILD A BEAR WORKSHOP INC 19.36 -1.12 -5.47%
DLTH DULUTH HOLDINGS INC 13.33 -0.57 -4.10%
JD JD.COM INC. 63.59 -4.24 -6.25%
COCO VITA COCO CO. 10.89 -0.42 -3.71%
UP WHEELS UP EXPERIENCE INC 3.13 -0.14 -4.28%

American Outdoor Brands, Red Robin Gourmet Burgers, Rivian and Ulta Beauty will be among the companies leading earnings after the bell.

Ticker Security Last Change Change %
AOUT AMERICAN OUTDOOR BRANDS INC. 15.18 -0.70 -4.41%
RRGB RED ROBIN GOURMET BURGERS INC. 15.30 -0.71 -4.43%
RIVN RIVIAN AUTOMOTIVE INC. 47.39 -3.52 -6.91%
ULTA ULTA BEAUTY INC. 366.76 -6.93 -1.85%

Investors will also take in the consumer price index, federal budget deficit, real household wealth and real domestic non-financial debt and latest on initial and continuing jobless claims. In international news, EU leaders will gather for a summit in Versailles and the European Central Bank will hold its monthly meeting. 

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Friday 3/11

Wrapping up the week will be earnings from Buckle and WeWork before the market open, the University of Michigan’s consumer sentiment index and the Fed’s preliminary five-year inflation expectations. 

Ticker Security Last Change Change %
BKE THE BUCKLE INC. 35.82 -0.91 -2.48%
WE WEWORK 4.77 -1.37 -22.31%

In addition, shareholders will vote on whether to approve Discovery’s $43 billion merger with AT&T’s WarnerMedia.

Ticker Security Last Change Change %
DISCA DISCOVERY INC. 26.89 -1.79 -6.24%
T AT&T INC. 23.87 -0.04 -0.17%

Automaker Stellantis will also dish out its largest employee profit sharing payment in 35 years, totaling more than $14,000.

Ticker Security Last Change Change %
STLA STELLANTIS NV 15.03 -1.44 -8.74%

About 43,000 UAW-represented Stellantis employees will receive checks, with the total payments based on individual compensated hours. The eligible profit sharing amount is $14,670.



Read More: Russia-Ukraine, inflation and jobs data, Apple event top week ahead

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments