Job openings, federal employee vaccine mandate, AMC Entertainment earnings top week ahead
Other earnings on the docket include PayPal, Virgin Galactic, Palantir Technologies, Beyond Meat and Disney
The earnings parade rolls on this week with several big names set to deliver results, including AMC Entertainment, Virgin Galactic and Disney. Job openings and key inflation data will also be in focus for investors.
As the Biden administration's Dec. 8 deadline for federal employees to be fully vaccinated quickly approaches, the Office of Personnel Management is also urging companies and agencies to begin enforcing vaccine mandates for their workforces if they haven't already done so.
|I:DJI||DOW JONES AVERAGES||32030.11||-530.49||-1.63%|
|I:COMP||NASDAQ COMPOSITE INDEX||11669.955646||-190.15||-1.60%|
This as stocks are in record territory after rallying on Friday following a strong October jobs report. FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Earnings will kick off on Monday with Coty before market open and AMC Entertainment, PayPal and Virgin Galactic after the bell.
|PYPL||PAYPAL HOLDINGS INC.||74.34||-2.38||-3.10%|
|SPCE||VIRGIN GALACTIC HOLDINGS INC.||3.91||-0.21||-5.10%|
Economic data will be relatively quiet on Monday with employment trends. However, the Federal Reserve will make the rounds with remarks from Boston Fed interim president Kenneth Montgomery, Philadelphia Fed president Patrick Harker and Chicago Fed president Charles Evans.
Montgomery will speak during the Boston Fed's virtual "The Implications of High Leverage for Financial Instability Risk, Real Economic Activity, and Appropriate Policy Responses" conference, Harker will speak on the economic outlook before a virtual event at the Economic Club of New York and Evans will speak virtually on current economic conditions and monetary policy before the "OESA 2021 Automotive Supplier Conference: Beyond Disruption".
Starting Monday, the vaccine program for children ages 5 to 11 will also begin after the Food and Drug Administration greenlit use of Pfizer and BioNTech's COVID-19 vaccine. Also on Monday, the United States will reopen its land borders with Canada and Mexico and fully vaccinated individuals traveling to the U.S. will be required to show proof of vaccination prior to boarding their flights. In addition, Walmart expects a fully-vaccinated corporate workforce to return to the office unless given a special accommodation.
|WBA||WALGREENS BOOTS ALLIANCE INC.||32.50||-1.04||-3.10%|
|D||DOMINION ENERGY INC.||53.21||-0.91||-1.68%|
|SON||SONOCO PRODUCTS CO.||57.91||+1.22||+2.15%|
|TSM||TAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.||92.58||+0.09||+0.10%|
Other notable events include the National Walkout & Stand for Freedom, a call for a voluntary work strike to protest vaccine mandates on the job, former president Donald Trump speaking at a fundraiser in Tampa for House Republicans, Walgreens shutting down stores in San Francisco over crime concerns, Dominion Energy disconnecting service for customers who are behind by 2 months or more on payments, Sonoco Products raising prices on some of its consumer packaging products and the deadline for Taiwan Semiconductor Co. to hand over data to the Biden administration on semiconductor makers’ inventories, lead times, clients, and suppliers.
Earnings on the docket for Tuesday include BioNTech, Blue Apron, DR Horton, Hain Celestial Group, Hilton Grand Vacations, Hostess Brands, Palantir Technologies, Party City and Sysco before the market open.
|APRN||BLUE APRON HOLDINGS||0.78||+0.01||+1.29%|
|DHI||D.R. HORTON INC.||95.70||-1.11||-1.15%|
|HAIN||THE HAIN CELESTIAL GROUP INC.||16.15||-0.31||-1.88%|
|HGV||HILTON GRAND VACATIONS||43.10||-1.17||-2.64%|
|TWNK||HOSTESS BRANDS INC.||24.16||-0.60||-2.42%|
|PLTR||PALANTIR TECHNOLOGIES INC.||8.21||-0.24||-2.84%|
After the bell, Coinbase Global, DoorDash, Eastman Kodak, Krispy Kreme, McAfee and Poshmark will deliver results.
|COIN||COINBASE GLOBAL INC.||77.14||-6.85||-8.16%|
|KODK||EASTMAN KODAK CO.||3.71||-0.14||-3.64%|
Meanwhile, the producer price index and NFIB business optimism index will be in focus for economic data. Also on Tuesday, the vaccine mandate for federal employees will start being enforced, per a recommendation from the U.S. Office of Personnel Management. The Biden Administration is requiring all federal employees to be fully vaccinated by Nov. 22.
Earnings to watch on Wednesday include Wendy’s before the market open and Beyond Meat, Bumble, Red Robin Gourmet Burgers, Disney and ZipRecruiter after the bell.
|WEN||THE WENDY'S CO.||20.79||-0.60||-2.81%|
|BYND||BEYOND MEAT INC.||15.06||-0.52||-3.34%|
|RRGB||RED ROBIN GOURMET BURGERS INC.||13.58||+0.43||+3.27%|
|DIS||THE WALT DISNEY CO.||94.90||-1.64||-1.70%|
Amazon-backed Rivian will also make its highly anticipated debut on the Nasdaq. Rivian is planning to sell 135 million shares between $57 and $62 apiece. The electric vehicle startup is seeking a market valuation of approximately $60 billion, according to the Wall Street Journal.
Meanwhile, the consumer price index, core CPI, wholesale inventories, the federal budget deficit, initial and continuing jobless claims, weekly mortgage applications and the Energy Information Administration's weekly crude stocks will be in focus for economic data.
Though Thursday is Veterans Day, the stock market will still be open with Tapestry, UTZ Brands, and Lordstown Motors earnings taking the spotlight.
|UTZ||UTZ BRANDS, INC.||16.56||-0.07||-0.42%|
The JOLTS report, the University of Michigan consumer sentiment index, the five-year inflation expectations and Warby Parker's first earnings report since going public will wrap up the week.
|WRBY||WARBY PARKER INC.||9.79||-0.49||-4.77%|
New York Fed president John Williams will also speak before the bank's virtual "Heterogeneity in Macroeconomics: Implications for Policy" conference.
|XOM||EXXON MOBIL CORP.||104.58||-2.50||-2.33%|
Also on Friday, Exxon workers locked out of a refinery in Texas will begin to vote on ending representation by the United Steelworkers union, Toshiba will release the results of a strategic review along with its quarterly earnings and new mid-term business plan, and Disney will celebrate the second anniversary of its streaming service, Disney+.