Investors will get a break on Monday as the New York Stock Exchange will be closed in observance of the Labor Day holiday. Corporate earnings and key economic data will ramp up throughout the rest of the week.
U.S. stocks reversed all gains on Friday to close lower across the board despite the solid monthly jobs report for August in which employers added 315,000 workers. For the week, the S&P 500 and Dow Jones Industrial Average fell 3% apiece, while the tech-heavy Nasdaq Composite lost 4.2%.
|I:COMP||NASDAQ COMPOSITE INDEX||11630.864481||-154.26||-1.31%|
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
On the economic data front, investors will take in the S&P Global services PMI flash, employment trends and the ISM non-manufacturing PMI.
|DWAC||DIGITAL WORLD ACQUISITION CORP.||24.99||+1.37||+5.80%|
Digital World Acquisition Corp. will also be a stock to watch as the company holds a shareholder meeting on Tuesday to decide whether to delay a merger with Trump Media and Technology Group.
Kicking off the week for earnings will be John Wiley & Sons, Korn Ferry, NIO and REV Group before the market open and Asana, Casey’s General Stores, Dave & Buster’s Entertainment and GameStop after the bell.
|WLY||JOHN WILEY & SONS INC.||46.27||+0.16||+0.35%|
|REVG||REV GROUP INC||10.88||-0.44||-3.89%|
|CASY||CASEY’S GENERAL STORES INC.||213.24||-2.46||-1.14%|
|PLAY||DAVE & BUSTER’S ENTERTAINMENT INC.||42.03||+0.30||+0.72%|
Investors will also digest weekly mortgage applications, the Beige Book and the international trade balance. In addition, Cleveland Fed president Loretta Mester will speak on the “U.S. Economy and Federal Reserve Policy” before a Market News International webcast and Federal Reserve Vice Chair Lael Brainard will speak before the Clearing House/Bank Policy Institute Annual Conference.
Apple will also hold its “Far Out” event, where the tech giant is widely expected to announce the iPhone 14 and a new version of the Apple Watch.
Hooker Furniture will take the earnings spotlight on Thursday while American Outdoor Brands and Smith & Wesson Brands will be in focus after the bell.
|AOUT||AMERICAN OUTDOOR BRANDS INC.||8.29||-0.02||-0.24%|
|SWBI||SMITH & WESSON BRANDS||13.38||-0.36||-2.62%|
Economic data on the docket for Thursday will include consumer credit, the latest in initial and continuing jobless claims and the Energy Information Administration’s weekly crude stocks.
Chicago Fed president Charles Evans will also participate in a moderated Q&A on current economic conditions and monetary policy before the College of DuPage Economic Forum. The European Central Bank will also release its interest rate decision.
Wrapping up the week will be Kroger earnings before the market open and wholesale inventories and sales.
|KR||THE KROGER CO.||48.43||-0.19||-0.39%|
Federal Reserve Bank of Chicago President Charles Evans gives welcome remarks before the “Exploring Career Pathways in Economics and Related Fields Conference” hosted by the Federal Reserve Bank of Chicago.