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Labor Secretary Marty Walsh argues that the dismal employment report was due to the Delta variant, which affected economic activity and, therefore, job growth.
The coming week will be filled with economic data, banking profits, and another milestone in the Blue Origin space.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| Me: DJI | MEDIUM DOW JONES | 34746.25 | -8.69 | -0.03% |
| SP500 | S&P 500 | 4391.34 | -8.42 | -0.19% |
| I: COMP | NASDAQ COMPOSITE INDEX | 14579.537317 | -74.48 | -0.51% |
Stocks ended lower on Friday after the September jobs report missed Wall Street estimates. The US economy has created 194,000 jobs, well below the 500,000 expected by economists surveyed by Refinitiv.
Oil will also be in the spotlight as it briefly exceeded $ 80 per barrel on Friday.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| USE | UNITED STATES PETROLEUM FUND LP | 55.47 | +0.11 | + 0.20% |
FOX Business takes a look at upcoming events that are likely to move Financial markets in the coming days.
Monday 10/11
It’s Columbus Day and while the stock market will be open during normal trading hours, the bond market will be closed.
It will also be quiet for earnings and economic data, but investors will hear Federal Reserve Bank of Chicago President Charles Evans deliver introductory remarks ahead of the 2021 Lawrence R. Klein awards ceremony.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| T | AT&T, INC. | 26.77 | -0.32 | -1.18% |
| MCD | CORP. | 247.70 | -0.62 | -0.25% |
Other notable events on Monday include the deadline for most AT&T executives and all Deloitte employees to be fully immunized. McDonald’s is also expected to reopen its offices on Monday after pushing back its Sept. 7 reopening date to allow its employees to get vaccinated.
Tuesday 10/12
Tuesday’s main report will be the JOLTS report, the latest job vacancy data and the Business Optimism Index from the National Federation of Independent Businesses.
Profits will rise on Tuesday with Fastenal before the market opens and SMART Global Holdings after the bell.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| QUICK | FASTENAL CO. | 52.72 | 0.00 | 0.00% |
| SGH | GLOBAL SMART HOLDINGS | 44.07 | -0.64 | -1.43% |
In addition, G20 leaders will hold an extraordinary meeting on the situation in Afghanistan, the Tax Foundation and the European Tax Policy Forum will hold a virtual conference on the implications of a global tax system, Food Lion will hold open talks in more 1,100 stores and Lucid Motors will also be hosting a special DreamDrive event.
Wednesday 13/10
Bump Day will kick off big wins with BlackRock, JPMorgan Chase, First Republic Bank and Delta Airlines on Wednesday’s schedule.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| BLACK | BLACKROCK, INC. | 844.40 | +2.05 | + 0.24% |
| JPM | JPMORGAN CHASE & CO. | 170.22 | +0.13 | + 0.08% |
| FRC | BANK OF THE FIRST REPUBLIC (SAN FRANCISCO, CALIFORNIA) | 204.03 | +1.10 | + 0.54% |
| OF | DELTA AIRLINES, INC. | 43.38 | -0.30 | -0.69% |
As for the economic data, investors will take into account the Consumer Price Index and Core CPI, the latest FOMC minutes and weekly mortgage applications.
It’s also a big day for 90-year-old “Star Trek” icon William Shatner, who will take off with Jeff Bezos’ Blue Origin for the aerospace company’s second suborbital space flight.
New Shepard’s NS-18 mission was originally scheduled to take off from the aerospace company’s Launch Site 1 in West Texas at 9:30 a.m. EST on Tuesday. However, the flight was postponed to Wednesday due to forecast winds.
Audrey Powers, vice president of mission and flight operations at Blue Origin, will join Shatner on spaceflight, Dr. Chris Boshuizen, former NASA engineer and co-founder of Planet Labs, and co-founder of Medidata and Vice President of Life Sciences and Health of Dassault Systèmes Glen de Vries.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| NVDA | NVIDIA CORP. | 208.31 | -2.44 | -1.16% |
In addition, EU regulators are expected to vote on the planned $ 54 billion buyout by semiconductor chipmaker Nvidia from UK chip designer Arm.
Thursday 14/10
Thursday will be the busiest day for profits, with Bank of America, Citigroup, Domino’s Pizza, Morgan Stanley, UnitedHealth Group, US Bancorp, Walgreens Boot Alliance, Wells Fargo and Alcoa all set to report.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| BAC | BANK OF AMERICA CORP. | 44.34 | +0.22 | + 0.50% |
| VS | CITIGROUP, INC. | 72.35 | +0.16 | + 0.22% |
| DPZ | DOMINO’S PIZZA, INC. | 480.32 | -2.39 | -0.50% |
| MRS | MORGAN STANLEY | 100.04 | +1.24 | +1.26% |
| A H | UNITEDHEALTH GROUP, INC. | 408.46 | +3.76 | + 0.93% |
| Usb | AMERICAN BANCORP | 62.33 | +0.45 | + 0.73% |
| WBA | WALGREENS BOOT ALLIANCE, INC. | 47.38 | -0.47 | -0.98% |
| WFC | WELLS FARGO & CO. | 48.00 | +0.24 | + 0.50% |
| AA | ALCOA CORP. | 46.03 | -1.02 | -2.17% |
As for economic data, investors will be watching the Producer Price Index, the latest data on initial and continuing jobless claims and weekly crude stocks from the Energy Information Administration.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| MRNA | MODERN, INC. | 304.91 | -4.45 | -1.44% |
| JNJ | JOHNSON & JOHNSON | 160.93 | -0.41 | -0.25% |
Moderna and Johnson and Johnson will also be the center of attention as the Food and Drug Administration’s Advisory Committee on Vaccines and Related Biologics (VRBPAC) meets on Thursday and Friday to discuss the advisability of administering vaccines. booster doses of their COVID-19 vaccines to people 18 years of age or older.
Friday 10/15
The week will end with earnings from Goldman Sachs, JB Hunt, PNC Financial Services and Prologis.
For economic data, monitor import and export prices, retail sales, business inventories, the Empire State Manufacturing Survey, and the University of Michigan Consumer Confidence Index.
| Teleprinter | Security | Last | Switch | Switch % |
|---|---|---|---|---|
| SG | THE GOLDMAN SACHS GROUP, INC. | 392.81 | +2.19 | + 0.56% |
| JBHT | JB HUNT TRANSPORTATION SERVICES, INC. | 169.78 | -3.27 | -1.89% |
| PNC | THE PNC FINANCIAL SERVICES GROUP, INC. | 202.76 | +0.96 | + 0.48% |
| PLD | PROLOGIS, INC. | 128.53 | -0.85 | -0.66% |
Friday also marks the deadline for filing extended federal income tax returns for 2020.
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