Jobs report, consumer credit, Levi Strauss earnings top week ahead
Markets will be closed on Monday in observance of the Fourth of July holiday
Investors will get a break on Monday as the New York Stock Exchange will be closed in observance of the Fourth of July holiday. While the upcoming week will be light for earnings, Wall Street will be focused on the latest jobs and consumer-related data.
On Friday, stocks bounced between losses and gains, ultimately closing higher across the board with momentum picking up in the final hour of trading. The Dow Jones Industrial Average climbed 321.83 points, or 1.05%, to 31,097.26. Meanwhile, the S&P 500 and Nasdaq composite rose 1.04% and 0.9%, respectively.
|I:DJI||DOW JONES AVERAGES||33665.02||+91.74||+0.27%|
|I:COMP||NASDAQ COMPOSITE INDEX||13104.894999||-171.52||-1.29%|
FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
Kicking off the week for economic data will be durable goods and factory orders. In addition, private investment firm Allen & Company will hold its annual Sun Valley conference.
STOCK MARKET NEWS: DOW, S&P, NASDAQ GAIN, AIRLINES DEAL WITH JULY 4TH TRAVEL CHAOS
|META||META PLATFORMS INC.||263.60||-7.52||-2.77%|
|BRK.A||BERKSHIRE HATHAWAY INC.||511,795.01||+3,595.08||+0.71%|
|DIS||THE WALT DISNEY CO.||92.53||+0.39||+0.42%|
According to Variety, this year's guests will include Tesla CEO Elon Musk, Microsoft co-founder Bill Gates, Apple CEO Tim Cook, Meta CEO Mark Zuckerberg, Berkshire Hathaway chairman and CEO Warren Buffett, Alphabet CEO Sundar Pichai, Comcast chairman Brian Roberts, Paramount Global non-executive chairwoman Shari Redstone, Netflix co-founders Reed Hastings and Ted Sarandos and Disney CEO Bob Chapek.
|COST||COSTCO WHOLESALE CORP.||511.23||-5.03||-0.97%|
Tuesday also marks the beginning of Costco's new requirement that New Jersey customers must have a membership to buy gasoline.
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Economic data on the docket for Wednesday will include the Fed Minutes, the JOLTS report, the ISM non-manufacturing PMI and weekly mortgage applications.
Federal Reserve Bank of New York President John Williams gives opening and closing remarks before the New York Fed Web Series on Culture: "Shifting Norms? The Intersection of Technology and Culture in Financial Services," organized by the Federal Reserve Bank of New York.
The Fifth Circuit Court of Appeals will also hold a hearing on the Biden administration's bid to overturn a block on new DACA applicants.
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Taking the earnings spotlight on Thursday will be Levi Strauss and WD-40 after the bell.
|LEVI||LEVI STRAUSS & CO.||14.40||+0.48||+3.49%|
On the economic data front, investors will digest the foreign trade balance, the latest in initial and continuing jobless claims, and the Energy Information Administration's weekly crude stocks.
St. Louis Fed president James Bullard will also give a presentation on the U.S. economy and monetary policy before the hybrid Little Rock Regional Chamber’s Power Up Little Rock Luncheon.
Wrapping up the week for economic data will be the June jobs report, wholesale inventories, and sales and consumer credit.
New York Fed president John Williams will also speak on and participate in a discussion about monetary policy, the U.S. and Puerto Rico economic outlooks, and economic trends before an event hosted by the University of Puerto Rico's Mayagüez campus.