July 5, 2022

Vision Cim

Thank Business Its Friday

Consumer confidence, home sales, Nike earnings top week ahead

Investors will enter the final stretch before Christmas this week as volatility ticks up due to concerns over inflation, interest rate hikes, and the spread of the omicron variant.

HERE’S WHERE SURGING PRICES ARE HITTING CONSUMERS THE MOST

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35365.44 -532.20 -1.48%
SP500 S&P 500 4620.64 -48.03 -1.03%
I:COMP NASDAQ COMPOSITE INDEX 15169.682092 -10.75 -0.07%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. Financial markets will be closed Friday in observance of the Christmas holiday. 

Monday 12/20

On Monday, investors will take in earnings from Blade Air Mobility before the opening bell, Micron Technology, and Nike after the bell, and the Conference Board’s index of leading economic indicators.

Ticker Security Last Change Change %
BLDE BLADE AIR MOBILITY INC. 8.56 -0.28 -3.17%
MU MICRON TECHNOLOGY INC. 83.00 +0.31 +0.37%
NKE NIKE INC. 161.36 -1.36 -0.84%

It will also be a big day for aluminum producer Alcoa, which will move to the S&P MidCap 400, replacing medical technology provider and Baxter International subsidiary Hill-Rom Holdings Inc.

Ticker Security Last Change Change %
AA ALCOA CORP. 53.73 +1.14 +2.17%

Tuesday 12/21

Earnings on the docket for Tuesday include General Mills and Rite Aid before the opening bell, while BlackBerry takes the spotlight after the bell. As for economic data, investors will be watching the current account deficit for the third quarter. 

Ticker Security Last Change Change %
GIS GENERAL MILLS INC. 67.65 -1.21 -1.76%
RAD RITE AID CORP. 12.05 -0.07 -0.58%
BB BLACKBERRY LTD. 9.17 +0.39 +4.44%

Tuesday also marks the deadline for European Union antitrust regulators to make a decision on Microsoft’s $16 billion deal for artificial intelligence and speech technology firm Nuance Communications. In addition, SpaceX will launch its 24th commercial resupply services mission to the International Space Station. 

Wednesday 12/22

Earnings will wrap up on Wednesday with CarMax, Cintas and Paychex all before the market open. 

Ticker Security Last Change Change %
KMX CARMAX INC. 137.54 +0.14 +0.10%
CTAS CINTAS CORP. 438.51 -16.30 -3.58%
PAYX PAYCHEX INC. 123.89 -0.76 -0.61%

It will also be a busy day for economic data as investors take in consumer confidence, existing home sales, corporate profits, the final reading for third-quarter GDP, weekly mortgage applications, and the Energy Information Administration’s weekly crude stocks.

Ticker Security Last Change Change %
AAL AMERICAN AIRLINES GROUP INC. 16.95 +0.43 +2.60%

Also starting on Wednesday, American Airlines flight attendants who work through Jan. 2 will be eligible to receive a 150% premium bonus. Employees with no absences between Nov. 15th and Jan. 2nd will receive a 300% premium for the holiday hours they work.

Thursday 12/23

Finishing out the week for economic data will be personal income and consumption, durable goods, initial and continuing jobless claims, new home sales, and the University of Michigan’s consumer sentiment index.