What to expect in the week ahead (JMP, BLK, C, TSM)
Weekly Market Recap
Wall Street is coming off a negative week, with the tech sector being a source of concern. The tech-heavy $Nasdaq Composite Index (.IXIC.US)$ fell 3.9% last week, while the $S&P 500 Index (.SPX.US)$ and $Dow Jones Industrial Average (.DJI.US)$ dropped 1.3% and 0.3%, respectively.
The health-care sector was a bright spot, gaining 2.64%.
Sectors Performance
The Week Ahead in Focus
First-quarter earnings season begins this week, kicked off as always by results from several big banks. $JPMorgan (JPM.US)$ reports on Wednesday, followed by $Wells Fargo & Co (WFC.US)$, $Goldman Sachs (GS.US)$, $Morgan Stanley (MS.US)$, and $Citigroup (C.US)$ on Thursday.
Notable non-bank companies reporting this week will include $Albertsons Companies (ACI.US)$ on Tuesday, plus $Delta Air Lines (DAL.US)$, $Blackrock (BLK.US)$, and $Fastenal (FAST.US)$ on Wednesday. On Thursday, $Taiwan Semiconductor (TSM.US)$ and $UnitedHealth (UNH.US)$ will report.
The economic data highlights of the week will be the latest inflation data: the Bureau of Labor Statistics' consumer price index for March is out on Tuesday and the producer price index is out on Wednesday. Consumer prices are expected to have surged 8.4% year over year, while producer prices are forecast to have spiked 10.5% year over year.
Other data out this week will include the National Federation of Independent Business' Small Business Optimism Index for March on Tuesday, plus the University of Michigan's Consumer Sentiment Survey for April and the Census Bureau's retail-sales spending report for March -- both on Thursday.
Monday 4/11
Federal Reserve Bank of Chicago President Charles Evans discusses his outlook for the economy, employment, inflation, and interest rates at the Detroit Economic Club.
Tuesday 4/12
The Bureau of Labor Statistics reports the consumer-price index for March. Consensus estimate is for an 8.4% year-over-year spike for the CPI, after a 7.9% increase in February.
$CarMax (KMX.US)$ and Albertsons report fourth-quarter financial results.
$Synopsys (SNPS.US)$, $Fifth Third Bancorp (FITB.US)$, $Lennar Corp (LEN.US)$, and $Bank of New York Mellon (BK.US)$ hold annual shareholder meetings.
The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 94.9 reading. February's 95.7 reading was the second consecutive month below the 48-year average of 98.
Wednesday 4/13
JPMorgan Chase, $First Republic Bank (FRC.US)$, $Rent the Runway (RENT.US)$, Delta Air Lines, BlackRock, Bed Bath & Beyond, Hooker Furnishings, and Fastenal host earnings conference calls.
The BLS releases the producer-price index for March. The PPI is expected to jump 10.5% year over year on a nonseasonally adjusted basis, while the core PPI, which excludes volatile food and energy prices, is seen rising 8.4%. This compares with increases of 10% and 8.4%, respectively, in February.
Thursday 4/14
First-quarter results are expected from several banks and financial-services companies including Wells Fargo, $U.S. Bancorp (USB.US)$, Goldman Sachs, Morgan Stanley, Citigroup, $PNC Financial Services (PNC.US)$, $State Street (STT.US)$, and $Ally Financial (ALLY.US)$. Others companies reporting financial results include $Rite Aid (RAD.US)$, Taiwan Semiconductor Manufacturing, and UnitedHealth Group.
The University of Michigan releases its Consumer Sentiment Survey for April. Expectations are for a 58.9 reading, compared with 59.4 in March.
The Census Bureau reports on retail-sales spending for March. Expectations are for a seasonally adjusted 0.6% month-over-month increase in retail sales, compared with a 0.3% rise in February. Excluding autos, spending is seen rising 1.0%, compared with 0.2% in the previous period.
The BLS reports export and import price data for March. Expectations are for a 2.2% month-over-month rise in export prices, while import prices are seen increasing 0.6%. This compares with gains of 3.0% and 1.4%, respectively, in February.
Dow, Carrier Global, and Owens Corning hold annual shareholder meetings.
Friday 4/15
The Federal Reserve releases industrial production data for March. Economists are looking for a 0.4% rise, after a 0.5% increase in February.
Source: Finviz, Dow Jones Newswires, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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