Retailer earnings, economic reports, review of last week's markets and more: Monday's 5 things to know

Retailer earnings, economic reports, review of last week’s markets and more: Monday’s 5 things to know

Here are the key events unfolding on Monday that could impact trading.

PROFIT REPORTS: Retailers will feature prominently in earnings announcements over the coming week.

Investors will be watching for results from Walmart, Home Depot and Advance Auto Parts on Tuesday.

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Exterior of the retailer's Walmart store in Salinas, California

Walmart store exterior. Walmart is an American multinational corporation that operates large discount stores and is the world’s largest public corporation. (iStock/iStock)

LOWE’S COMPANIES, INC

Wednesday, report from Lowe’s, Target and TJX.

This will be followed by Macy’s, Kohls, Ross Stores and Gap on Thursday and others for clues as to how the consumer is weathering soaring inflation and rising interest rates.

On Friday, Foot Locker and Buckle Inc. close earnings reports for major retailers for the week.

More than 90% of the S&P 500 (463 companies) released Q3 numbers and so far the results are ahead of expectations.

THE ECONOMY FROM A POINT OF VIEW: A busy week of economic data ahead.

From Tuesday, the first inflation report will take center stage with the release of the October producer price index.

The Bureau of Labor Statistics is expected to report that the PPI rose 0.5% month over month according to the Refinitiv forecast, compared to a warmer-than-expected print of 0.4% in September.

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A general view of the US Department of Labor, in Washington, DC, Monday, July 11, 2022. (Graeme Sloan/Sipa USA) (Graeme Sloan/Sipa USA)

Year-over-year, prices paid by wholesalers are expected to jump 8.3%, less than September’s 8.5% rise and the fourth consecutive month of slower growth.

It would also be the lowest reading since July 2021, and with a cooler-than-expected October CPI report, it could bolster hopes of lower Fed rate hikes.

Excluding food and energy costs, core producer prices are expected to rise 0.4% per month in October, slightly above September’s 0.3% gain.

Year-over-year core PPI growth is expected to hold steady at 7.2% in October, the seventh consecutive month of flat or slowing growth after a record 9.7% rise in March ( data goes back to April 2011).

Markets will also be paying close attention to the October retail sales report on Wednesday for clues as to how consumers are coping with high inflation and rising borrowing costs.

And housing will feature prominently this week, with reports on homebuilder sentiment, housing starts and existing home sales all expected.

MARKET WATCH: Stocks and bonds ended a volatile week with the biggest gains in months, boosted by hopes of slowing US inflation.

Last week in global markets was one of the craziest of the year.

Many investors were obsessed with the drama between two of the biggest crypto companies, FTX and Binance, to start the week. This has quickly turned into a cryptocurrency crisis that threatens to cause losses for investors big and small, with FTX filing for bankruptcy on Friday in a stunning drop for a stalwart of the crypto market.

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NYSE workers

Traders work on the floor of the New York Stock Exchange in New York, Thursday, Nov. 10, 2022. (AP Photo/Seth Wenig) (AP Photo/Seth Wenig/AP Pictures)

Even stock market investors were spooked by the news, causing the market to sell off mid-week. On Thursday, however, new data on inflation – and a glimmer of hope that it is falling – sent stocks soaring.

The shares soared last week. Tech stocks, in particular, have been big beneficiaries of the recent run, due to some of their steep declines earlier in the year. At times, the moves throughout the week recalled the dizzying swings that gripped markets at the start of the COVID-19 pandemic, when the economy ground to a halt and investors rushed to analyze the situation. impact of the pandemic on American businesses.

The benchmark S&P 500 added 36.56 points, or 0.9%, to 3992.93 on Friday, a day after weaker inflation data sent the benchmark to its biggest rise on a day since April 2020. The Dow Jones Industrial Average added 32.49 points, or 0.1%, to 33747.86. The tech-heavy Nasdaq Composite added 209.18 points, or 1.9%, to 11,323.33, capping its biggest two-day gain since November 2008.

The S&P 500 and Nasdaq added 5.9% and 8.1% for the week, their best performance since June and March, respectively. The Dow added 4.1% for the week.

“This is certainly our first hint that inflation may be moderating,” Dev Kantesaria, founder of Valley Forge Capital Management, said of the inflation numbers. “But with the economic data, there’s always a chance of getting a false head.”

Meanwhile, shares of big tech companies rose. Amazon.com’s stock gained 4.3%, taking the week’s gains to nearly 11%. Alphabet shares rose 2.6% and were also up around 11% for the week. Even more speculative growth companies participated in the rally. The ARK Innovation Exchange-Traded Fund climbed 15% for the week.

RAW RECOVERY: Twitter’s new owner Elon Musk has curtly declined the former T-Mobile CEO’s offer to “manage” his new social media platform.

John Legere, who led T-Mobile for seven years before leaving the company in 2020, tweeted that Musk could take over product and technology while Legere handles day-to-day operations.

“I’m expensive, but so is what you paid for Twitter,” Legere tweeted.

“No,” Musk replied, before going on to say that “Twitter is basically a software and server company” and that “technology has to move fast, which requires a technologist.”

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Elon Musk

This illustration photo taken on May 13, 2022 shows Elon Musks’ Twitter account with a Twitter logo in the background in Los Angeles. (CHRIS DELMAS/AFP via Getty Images/Getty Images)

After the rejection, Legere asked Musk to “please consider” his “free advice.”

“I believe [Twitter] can be a transparent free speech marketplace AND a profitable growth business. It will take vision but also leadership and management,” Legere tweeted. Musk, who closed his $44 billion deal to buy Twitter last month, rocked the company’s top brass, immediately sacking him. former CEO Parag Agrawal, CFO Ned Segal and Policy Director Vijaya Gadde. Many other executives have left the company in recent days, including Yoel Roth, the platform’s former head of trust and security. form.

SAFETY FIRST: The Transportation Security Administration (TSA) announced on Sunday that it would arrange additional training for some of its employees after a Frontier Airlines flight bound for Tampa was diverted to Atlanta because a disruptive passenger threatened other travelers with a cutter.

The TSA said employees did not identify a second cutter on the passenger’s possession during screening. Normally, passenger items are checked using CT technology, which creates a 3D image that can be rotated 360 degrees for “in-depth analysis”, the TSA said.

“After review of the incident, including closed-circuit television (CCTV), CT’s image review capabilities were not fully utilized,” TSA Southwest said.

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Frontier Airlines aircraft

A Frontier Airlines jet sits on the runway after landing.

While examining his property, a box cutter was discovered, TSA Southwest said. The visible blades were removed from the cutter and handed over to the passenger. According to the TSA, the items should have been placed in checked bags or intentionally left behind.

The passenger’s backpack containing the other cutter and the rest of the traveler’s belongings were checked for explosives, but the cutter was not discovered, TSA Southwest said.

The Frontier Airlines flight departed from Cincinnati/Northern Kentucky International Airport Friday evening with a final destination at Tampa International Airport when the passenger was found in possession of the cutter.

“When he went to the toilet, the passenger sitting by the window looked at me and said, ‘Hey, he has a knife and he told me he was threatening to stab people, we have to say something to someone,’” he added. says WLWT-News. “So I got in and talked to the stewardesses at the front of the plane and let them know this guy had a knife and he told us he wanted to stab people .”

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The plane was diverted and landed at Hartsfield-Jackson Atlanta International Airport and the passenger was arrested. Airline officials said the passenger did not injure anyone during the flight. The passenger was not identified by the police.

#Retailer #earnings #economic #reports #review #weeks #markets #Mondays

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