What to expect in the week ahead (HD, BABA, ETSY, MRNA)
Weekly market recap
Stocks were rocked in both directions in the past week, with the Dow Jones Industrial Average seeing its worst day of the year Thursday. The three major averages were lower for the week with the Dow off 1.8%, the Nasdaq down 1.7%, and the S&P 500 down 1.5%. Energy, communications services and financials were the worst-performing sectors for the week.
Stocks were rocked in both directions in the past week, with the Dow Jones Industrial Average seeing its worst day of the year Thursday. The three major averages were lower for the week with the Dow off 1.8%, the Nasdaq down 1.7%, and the S&P 500 down 1.5%. Energy, communications services and financials were the worst-performing sectors for the week.
Here's a look at the return of S&P 500 sectors
The week ahead in focus
U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning season resumes when Wall Street returns, with results from $Agilent Technologies (A.US)$, $Home Depot (HD.US)$, and $Medtronic (MDT.US)$ on Tuesday. On Wednesday, $Booking Holdings (BKNG.US)$, $eBay (EBAY.US)$, $Lowe's Companies (LOW.US)$, $Stellantis NV (STLA.US)$, and $TJX Companies (TJX.US)$.
U.S. stock and bond markets will be closed for Presidents Day on Monday. Fourth-quarter earning season resumes when Wall Street returns, with results from $Agilent Technologies (A.US)$, $Home Depot (HD.US)$, and $Medtronic (MDT.US)$ on Tuesday. On Wednesday, $Booking Holdings (BKNG.US)$, $eBay (EBAY.US)$, $Lowe's Companies (LOW.US)$, $Stellantis NV (STLA.US)$, and $TJX Companies (TJX.US)$.
Thursday will be particularly busy: $Alibaba (BABA.US)$, $Coinbase (COIN.US)$, $Dell Technologies (DELL.US)$ , $Etsy Inc (ETSY.US)$, and $Moderna (MRNA.US)$ will be among the highlights. Finally, $EOG Resources (EOG.US)$ and $Canadian Imperial Bank of Commerce (CM.US)$ close the week on Friday.
The economic data highlights of the week will include IHS Markit's Manufacturing and Services Purchasing Managers' Indexes for February and the Conference Board's Consumer Confidence Index for February----all on Tuesday. The surveys are each expected to come in flat to down versus January.
The Census Bureau will also report January durable-goods orders on Friday, which are often seen as a proxy for business investment. Finally, the Bureau of Economic Analysis will report personal income and spending for January on Friday. American consumers are expected to have spent more and earned slightly less compared with the prior month.
Monday 2/21
Stock and fixed-income markets are closed in observance of Presidents Day.
Tuesday 2/22
Tuesday 2/22
Agilent Technologies, $Cadence Design Systems (CDNS.US)$, Home Depot, $Public Storage (PSA.US)$, and $Realty Income (O.US)$ release earnings.
IHS Markit releases its Manufacturing and Services Purchasing Managers' Indexes for February. Consensus estimates are for a 56 reading for the Manufacturing PMI and a 52.2 for the Services PMI. This compares with 55.5 and 51.2, respectively, in January. The January Services PMI was the lowest reading since July 2020.
The Conference Board releases its Consumer Confidence Index for February. Economists forecast a 110.8 reading, roughly three points less than the January data.
Wednesday 2/23
Wednesday 2/23
The General Assembly of the United Nations holds a meeting to debate the ongoing tensions in Ukraine.
Cummins holds its 2022 analyst day.
Thursday 2/24
Thursday 2/24
The BEA reports its second estimate of fourth-quarter 2021 gross domestic product. Economists forecast a 5.9% seasonally adjusted annual growth rate, one percentage less than the advance estimate of 6.9%.
Alibaba Group Holding, Anheuser-Busch InBev, American Electric Power, Autodesk, Block, CBRE Group, Coinbase Global, Dell Technologies, Etsy, Intuit, Moderna, Newmont, Norwegian Cruise Line Holdings, NRG Energy, Occidental Petroleum, Public Service Enterprise Group, Royal Bank of Canada, and VMware release earnings.
The Census Bureau reports new-home sales for January. Expectations are for a seasonally adjusted annual rate of 792,000 new single-family houses sold, 19,000 fewer than in December
Friday 2/25
Friday 2/25
$Canadian Imperial Bank of Commerce (CM.CA)$ , $EOG Resources (EOG.US)$, Liberty Media, and $Sempra Energy (SRE.US)$ hold conference calls to discuss quarterly results.
The Census Bureau releases the January durable-goods report. Consensus estimate is for new orders for manufactured durable goods to rise 1% month over month to $270.3 billion.
The National Association of Realtors releases its Pending Home Sales index for January. In December, pending home sales fell 3.8%, the second consecutive month of declines. Rising mortgage rates and record-high home prices have taken some of the wind out of the housing market.
The BEA reports personal income and spending for January. Income is expected to decline 0.3% month over month, while expenditures are seen rising 1.4%.
Source: CNBC, jhinvestments, Dow Jones Newswires
Source: CNBC, jhinvestments, Dow Jones Newswires
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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