Inflation creates uncertainty as earnings season kicks off: Expert
Baird Investment strategy analyst Ross Mayfield discusses which stocks and sectors he’s buying as the fiscal quarter closes on ‘The Claman Countdown.’
Investors are gearing up for another busy week of corporate earnings and key economic data after stocks notched their first weekly gain in a month.
The Dow Jones Industrial Average finished up more than 5.3%. Meanwhile, the S&P 500 and Nasdaq composite climbed more than 6% and 7%, respectively.
|I:DJI||DOW JONES AVERAGES||31500.68||+823.32||+2.68%|
|I:COMP||NASDAQ COMPOSITE INDEX||11607.620416||+375.43||+3.34%|
Earnings and economic data will determine if the momentum continues as FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Nike and Jeffries Financial Group earnings will kick off the week. On the economic data front, investors will digest durable goods and pending home sales.
|JEF||JEFFERIES FINANCIAL GROUP INC.||27.88||+0.99||+3.68%|
Monday will also mark the first day of trading following FTSE Russell's annual rebalancing of its indexes.
DOW JUMPS 825+ POINTS, COMPANIES REACT TO ROE V. WADE
Beyond Air will take the earnings spotlight after the bell on Tuesday after the release of its results and conference call was rescheduled from June 16.
Economic data in focus for Tuesday will include consumer confidence, the FHFA monthly home price index and the Case-Shiller monthly home price index. San Francisco Fed president Mary Daly will also participate in a virtual fireside chat hosted by LinkedIn.
On Friday, she exclusively told FOX Business, that fighting inflation was the central bank's top priority.
San Francisco Fed president: Getting inflation down is ‘number one priority’
San Francisco Federal Reserve President Mary Daly sits down in an exclusive interview with FOX Business’ Ed Lawrence to discuss inflation and the U.S. economy.
|CMG||CHIPOTLE MEXICAN GRILL INC.||1,329.02||+39.50||+3.06%|
On Capitol Hill, the House will hold a hearing on combating ransomware. Tuesday also marks the deadline to file a claim in a settlement against Chipotle for overcharging for delivery.
Earnings will ramp up on Wednesday with Barnes & Noble Education, Bed Bath & Beyond, General Mills, McCormick & Co, Paychex and Schnitzer Steel before the market open.
|BNED||BARNES & NOBLE EDUCATION INC COM||3.24||+0.17||+5.54%|
|BBBY||BED BATH & BEYOND INC.||7.00||-0.13||-1.82%|
|GIS||GENERAL MILLS INC.||70.63||+1.71||+2.48%|
|MKC||MCCORMICK & CO. INC.||87.75||+2.35||+2.75%|
|SCHN||SCHNITZER STEEL INDUSTRIES||32.91||+0.35||+1.07%|
Economic data on the docket will include the final reading on first-quarter GDP, weekly mortgage applications, and the Energy Information Administration's weekly crude stocks.