What to expect in the week ahead (BB, MU, XPEV, LULU)

Stock futures were slightly lower Sunday evening as investors look ahead to a series of key economic reports and continue to keep a close eye on the Federal Reserve's planned interest rate hikes.

The main event for investors and economists this week will be jobs Friday. The Bureau of Labor Statistics is expected to report an increase of 450,000 jobs in March, for an unemployment rate of 3.7%. That would compare with a gain of 678,000 nonfarm payrolls in February.

Other economic data out this week will include the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey and S&P CoreLogic's Case-Shiller National Home Price Index for January -- both on Tuesday. On Thursday, the Bureau of Economic Analysis will report personal income and expenditure statistics for February.

Jefferies Financial Group reports first-quarter fiscal-2022 results.

The Federal Reserve Bank of Dallas releases the Texas Manufacturing Outlook Survey for March. The consensus estimate is for a 12.5 reading, 1.5 points fewer than in February. The index has had a positive reading every month since July 2020, showing growth in the region's manufacturing sector.

Autodesk and SolarEdge Technologies hold investor meetings.

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Expectations are that there were 11.3 million job openings on February's last business day, roughly even with January's total. Unfilled jobs remain near record levels in an extremely tight labor market.

S&P CoreLogic releases the Case-Shiller National Home Price Index for January. Home prices are projected to have risen 18.8%, year over year, matching December's increase. In 2021, homeowners enjoyed the largest appreciation in the 34 years in which the data have been collected -- led by Phoenix, Tampa, and Miami, all with prices up by 27% or more.

ADP releases its National Employment Report for March. Consensus estimate is for a gain of 400,000 jobs in private-sector employment. Private-sector employment still lags behind prepandemic levels by three million.

The Bureau of Economic Analysis reports its final estimate for fourth-quarter gross-domestic-product growth. Economists forecast that GDP grew at a seasonally adjusted annual rate of 7%, unchanged from the BEA's second estimate.

The Institute for Supply Management releases its Chicago Purchasing Managers Index for March. Expectations are for a 56.5 reading, roughly even with the February figure.

The BEA reports on personal income and expenditure for February. Income is projected to have increased by 0.6%, month over month, while spending is expected to have risen by 0.3%. This compares with a flat reading and 2.1% rise, respectively, in January.

The BLS releases the jobs report for March. Economists forecast a gain of 450,000 in nonfarm payrolls, compared with 678,000 in February. The unemployment rate is seen edging lower to 3.7%, from 3.8%. The previous two releases saw a combined upside surprise to the consensus of 633,000 additional jobs, as the jobless rate nears the February 2020 level of 3.5% which matched a half-century low.