State Street Global Advisors chief investment strategist Michael Arone told ‘The Claman Countdown’ to expect more market volatility as the Fed raises rates to fight inflation.
Investors are waiting for a new wave of significant earnings and economic data. Wall Street will also be monitoring developments in the area. Musk-Twitter legal battle When the world’s richest man took the hot seat during a statement in Delaware this week.
US stocks closed just above that level, losing 486 points as recession fears escalated as the Dow Jones Industrial Average touched the intraday bear market on Friday. In commodities, oil fell more than 7% for the week ending at $78.74 per barrel.
FOX Business looks at upcoming events that are likely to move financial markets next days.
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 29590,41 | -486.27 | -1.62% |
| SP500 | S&P 500 | 3693.23 | -64.76 | -1.72% |
| me: COMP | NASDAQ COMPOSITE INDEX | 10867.926195 | -198.88 | -1.80% |
Monday 9/26
The Chicago Federal Reserve’s national activity index will kick off the week for economic data.
MARKET NEWS: DOW BREAKS BELOW 30K WHEN OIL DOWNS 7% FOR WEEK, RISK OF TRIAL RISES
The Federal Reserve will also tour, as Atlanta Fed chairman Raphael Bostic attends a Washington Post Live interview on the causes and effects of income and wealth inequality in the United States, and Cleveland Fed chairman Loretta Mester previously spoke about the economic outlook and monetary policy. Massachusetts Institute of Technology’s (MIT) Golub Center for Finance and Policy Distinguished Speaker Series.
Boston Fed chair Susan Collins will also talk about strengths and challenges in the national and regional economy, the Federal Reserve’s work both nationally and in New England, its history, and the work it plans to pursue before the Greater Boston Chamber of Commerce.
Tesla founder Elon Musk attended Offshore Northern Seas 2022 in Stavanger, Norway in August 2022. 29, 2022. (NTB/Carina Johansen via REUTERS/Reuters Photos)
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| TWTR | TWITTER Inc. | 41.58 | +0.18 | +0.43% |
Elon Musk’s legal battle with Twitter will also be in focus as he is Tesla CEO. questioned on sworn statement Scheduled to last until September 27. Twitter is suing Musk in the Delaware Chancery Court to secure its purchase of the social media giant for $44 billion. The legal reckoning will begin in October. 17.
Tuesday 9/27
Earnings will increase Tuesday with Cracker Barrel, Jabil Circuit and United Natural Foods before market open and after the bell with BlackBerry and Cal-Maine Foods.
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| CBRL | KRACKER BARRIL OLD COUNTRY STORE INC. | 98.22 | – 5.04 | -4.88% |
| JBL | JABIL Inc. | 56.31 | -1.26 | -2.20% |
| UNFI | UNITED NATURAL FOODS INC. | 39.02 | -1.63 | -4.01% |
| BB | BLACKBERRY LTD. | 5.07 | -0.19 | -3.62% |
| CALM | CAL-MAINE FOOD INC. | 60.57 | -0.04 | -0.07% |
Meanwhile, FHFA monthly housing price index, Case-Shiller housing price index, new home sales, consumer confidence, durable consumer goods and building permits will be on the agenda for economic data.
Chicago Fed President Charles Evans will also talk about current economic conditions or monetary policy ahead of the Official Monetary and Financial Institutions Forum’s “Future of the US Economy” event, and San Francisco Fed President Mary Daly will attend a fireside talk titled “Innovation and the Center.” “Banking” before the Bank’s virtual Symposium on Asian Banking and Finance.
INVESTOR THOUGHT IS ABSOLUTELY THE WORST SINCE THE FINANCIAL CRISIS SINCE 2008: BOFA
Wednesday 9/28
Cintas and Paychex will highlight earnings before the market opens on Wednesday, while Jefferies Financial Group, Park City Group and Vail Resorts will announce earnings results after the bell.
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| CTAs | ÇİNTAŞ A.Ş. | 389.89 | +1.12 | +0.29% |
| PAYX | PAYCHEX INC. | 115.02 | -2.59 | -2.20% |
| JEF | JEFFERIES FINANCIAL GROUP INC. | 29.98 | -0.99 | -3.20% |
| PCYG | PARK CITY GRP | 5.80 | -0.02 | -0.34% |
| MTN | VAIL FACILITIES | 208.10 | -3.56 | -1.68 |
On the economic data front, investors will be watching for some pending sales, weekly mortgage applications and weekly raw stocks from the Energy Information Administration.
Atlanta Fed chairman Raphael Bostic will participate in a moderated talk on “Leadership in Banking” ahead of the “Banking and Economics: Banking Minorities Forum” and Chicago Fed chairman Charles Evans will participate in a moderated talk on “Leadership in Banking.” Current economic conditions or monetary policy offered by the London School of Economics.
This photo, taken on July 4, 2022, shows the logo of Amazon, a major online shopping company, on display at the Amazon Amagasaki Fulfillment Center in Amagasaki, Hyogo prefecture. (via Getty Images/Getty Images KASUHIRO NOGI/AFP)
Additionally, Amazon will hold its annual hardware event showcasing the e-commerce giant’s latest devices, features and services. Highlights last year’s event Including the Echo Show 15, Astro home assistant, and Amazon Glow.
Thursday 9/29
Bed Bath & Beyond, CarMax, Micron Technology and Rite Aid will wrap up the week for Nike earnings before the market opens and after the bell.
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| BBBY | BED BATH & BEYOND INC. | 6.67 | -0.42 | -5.92% |
| KMX | CARMAX A.S. | 79.49 | -0.28 | -0.35% |
| HE | MIKRON TECHNOLOGY INC. | 50.10 | +0.44 | +0.89% |
| ORDER | RITE AID CORP. | 7.01 | -0.07 | -0.99% |
| NKE | NIKE INC. | 97.02 | -1.53 | -1.55% |
As for economic data, investors will digest corporate profits, the latest second-quarter GDP reading, and the latest in initial and ongoing unemployment claims.
Cleveland Fed President Loretta Mester will attend a policy panel ahead of the hybrid “Inflation: Drivers and Dynamics Conference 2022” hosted by the bank’s Center for Inflation Studies, and San Francisco Fed president Mary Daly will make a policy presentation at Boise State University. .
A Porsche logo appears on the alloy wheels of the 718 Porsche Boxster at a Porsche dealership in Rome, Italy, on September 6, 2022. (Manual Romano/NurPhoto via Getty Images/Getty Images)
In addition, Porsche will begin trading on the Frankfurt Stock Exchange.
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Friday 9/30
The personal consumption expenditures price index, real consumer spending and disposable income, the University of Michigan’s consumer sentiment index and the Chicago purchasing managers index will round out the week for economic data.
Additionally, Federal Reserve Vice Chairman Lael Brainard will deliver keynote speeches, and New York Fed chairman John Williams will deliver closing remarks ahead of the hybrid Financial Stability Considerations for the Monetary Policy Conference.
| stock | Security | End | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA A.S. | 275.33 | -13.26 | -4.59% |
Other notable events include Tesla’s second AI Day, the end of the US government’s fiscal year, and an emergency summit by EU energy ministers to approve measures to lower energy prices.
