Report on jobs, Ford earnings and Krispy Kreme IPO next week
It’s a big week for the US economy with multiple reports on jobs, earnings for major retailers, and a restaurant’s first IPO in some time, which is actually a blast from the past; Krispy Kreme. In addition, another well-known name of Legal Zoom will also be the subject of an IPO.
KRISPY KREME TAKES A SECOND CHANCE AT THE IPO
|Me: DJI||MEDIUM DOW JONES||34433.84||+237.02||+ 0.69%|
|SP500||S&P 500||4280.7||+14.21||+ 0.33%|
|I: COMP||NASDAQ COMPOSITE INDEX||14360.387701||-9.32||-0.06%|
This as the S&P 500 hit an all-time high on Friday and the Dow Jones Industrial Average and Nasdaq are near record highs.
FOX Business takes a look at upcoming events that are likely to move Financial markets in the coming days.
Monday 06/28 /
Investors will have the first chance to welcome new members to several Russell Indices. GameStop joins the Russell 1000, Fisker the 3000 while AMC remains in the Russell 2000.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||54.06||-2.64||-4.66%|
As for earnings, Herman Miller is expected after the bell Monday.
|MLHR||HERMAN MILLER, INC.||48.28||+0.03||+ 0.06%|
While the timetable is light for economic data, New York Federal Reserve Chairman John Williams will deliver a speech at the BIS Andrew Crockett Memorial Lecture at 8:45 am ET.
In the world of politics, President Biden will welcome Israeli President Reuven Rivlin to the White House.
“President Rivlin’s visit will highlight the enduring partnership between the United States and Israel and the deep ties between our governments and our people. It will be an opportunity to consult on the many challenges and opportunities facing the region.” , said Jen Psaki, White House press secretary. said in a statement.
Secretary of State Antony Blinken will also travel abroad to attend the G20 Foreign Ministers’ Meeting and meet with world leaders including German Chancellor Angela Merkel, French President Emmanuel Macron and Italian President Sergio Mattarella .
On Tuesday, investors will receive profits from Barnes & Noble Education and FactSet Research Systems ahead of the opening bell.
|BNED||BARNES & NOBLE EDUCATION INC COM||8.87||-0.43||-4.62%|
|SDS||FACTSET RESEARCH SYSTEMS, INC.||332.08||+1.45||+ 0.44%|
The day will also be filled with days of virtual investors for Jack in the Box, Capri Holdings and Sempra Energy.
As the movie channel becomes a stock of memes, AMC Entertainment Holdings will hold its annual reunion. As of June 2, there were 501,780,240 AMC shares outstanding. Despite speculation, AMC stressed that it did not intend to propose or take any action regarding a stock split or a reverse stock split.
|JACK||JACK IN THE BOX, INC.||120.08||-0.71||-0.59%|
|CPRI||CAPRI HOLDINGS LTD.||56.26||+0.74||+1.33%|
|AMC||AMC ENTERTAINMENT HOLDINGS INC||54.06||-2.64||-4.66%|
For economic data, the Case-Shiller Home Price Index and the Consumer Confidence Index lead the reports.
Other notable events on Tuesday included President Biden’s visit to Wisconsin to talk about agriculture and rural economies.
And the appearance of former President Barack Obama at the American Libraries Association annual conference where he will discuss his memoirs A promised land.
Wednesday will be one of the busiest days in the market this week, as Bed Bath & Beyond, Constellation Brands and Micron Technology are expected to report their results.
|BBBY||BED BATH & BEYOND, INC.||28.93||-1.32||-4.36%|
|STZ||CONSTELLATION BRANDS, INC.||228.60||+2.60||+ 1.15%|
|UM||MICRON TECHNOLOGY, INC.||82.03||+1.45||+1.80%|
Online legal services provider LegalZoom is also expected to start trading on the Nasdaq under the ticker symbol LZ. Reuters reported that LegalZoom plans to sell more than 19 million shares at a price of between $ 24 and $ 27 per share to raise $ 516 million.
As for the economic data, investors will be watching National ADP Jobs, the Chicago Purchasing Managers Index, Pending Home Sales and Weekly Mortgage Applications, and Weekly Crude Inventories of the ‘Energy Information Administration.
Former President Donald Trump is also expected to travel to the US-Mexico border with Texas Governor Greg Abbott as an influx of migrants continues to cross the southern border.
On Thursday, investors will hear from big names including Acuity Brands, McCormick, Walgreens Boots Alliance, who are all set to report profits before the market opens.
|AYI||ACUITY BRANDS, INC.||193.11||+1.47||+ 0.77%|
|MKC||MCCORMICK & CO., INC.||87.28||+1.00||+ 1.16%|
|WBA||WALGREENS BOOT ALLIANCE, INC.||52.16||+0.06||+ 0.12%|
Meanwhile, economic data will include challengers layoffs, initial and continuing jobless claims, construction spending and the ISM manufacturing PMI.
Krispy Kreme is also expected to return to the market on Thursday with an initial public offering to raise up to $ 640 million. The donut chain plans to sell 26.67 million shares at a price of between $ 21 and $ 24 apiece. The company would be valued at $ 3.22 billion at the top of its range. The shares are offered for trading on the Nasdaq under the symbol DNUT.
Other notable events taking place on Thursday include the virtual OPEC and non-OPEC ministerial meeting.
Friday will be among the most important for investors with Ford Motor Company earnings and the July jobs report.
US employers are expected to have created 650,000 jobs in June as the unemployment rate fell to 5.7%.
THE MAY JOBS REPORT IS DEADLINE
That would show an improvement from May, when employers added 559,000 jobs, the Labor Department reported, missing the 650,000 jobs expected by analysts polled by Refinitiv. The April reading has been revised up from 12,000 to 278,000.
|F||FORD MOTOR CO.||15.19||-0.07||-0.46%|
Friday will also mark a big day for Royal Caribbean as the company launches cruises from U.S. ports after a COVID-19-induced disruption.
CARNAVAL CEO: DEMAND REBOUND FASTER THAN SUPPLY
|RCL||ROYAL CARABES GROUP||89.22||+2.25||+ 2.59%|
|CCL||CARNIVAL CORP.||28.13||+0.67||+ 2.44%|
The CEOs of Royal Caribbean and Carnival Cruise said demand for FOX Business is rebounding.