Carnivore Trading CEO Dutch Masters, Bullseye Option Chief Market Strategist Alan Knuckman and Needham Media Analyst Laura Martin discuss whether markets are being held hostage by regional bank turmoil on 'The Claman Countdown.'
This will be another busy week for investors as regional banks remain volatile and big corporations host investors for annual meetings.
Stocks ended the Friday session little changed and, for the week, the Nasdaq Composite was the only major benchmark to end slightly up, lifted by Microsoft and Google.
Nasdaq Composite
FOX Business breaks down the events likely to move financial markets in the coming days.
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Monday, May 15
Investors and CEOs are closely watching the debt ceiling as talks are expected to continue this week between lawmakers and President Biden.
The U.S. government could default on some obligations in the first two weeks of June if no deal is reached, according to the Congressional Budget Office.
U.S. Senate Minority Leader Mitch McConnell, R-Ky., Speaker of the House Kevin McCarthy, R-Calif., President Biden and Senate Majority Leader Chuck Schumer, D-N.Y., meet in the Oval Office of the White House May 9, 2023, in Washington, D.C. (Anna Moneymaker/Getty Images / Getty Images)
Economic data being reported Monday will include the New York Fed manufacturing index, which unexpectedly jumped in April to show growth for the first time in five months. Additionally, data on credit card and household debt will be closely watched.
Overseas, the European Union may choose Monday to decide on Microsoft's $69 billion Activision deal, the biggest in the gaming industry and for the software giant. Regulators initially blocked the deal, so Microsoft agreed to licensing deals with other cloud companies. The EU’s self-imposed deadline for a decision is May 22.
A Pacific Western Bank branch in Encino, Calif., April 22, 2023. (Morgan Lieberman/Bloomberg via Getty Images / Getty Images)
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And the Writers Guilds Association will continue its strikes Monday, with plans for rallies on the East and West coasts.
Tuesday, May 16
Tuesday earnings before market open will include Baidu, Tencent Music Entertainment and Home Depot.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BIDU | BAIDU INC. | 120.07 | -4.10 | -3.30% |
| HD | THE HOME DEPOT INC. | 290.48 | +2.79 | +0.97% |
| TME | TENCENT MUSIC ENTERTAINMENT GROUP | 7.28 | -0.19 | -2.54% |
The retailer will give investors fresh insight on sentiment among homeowners and buyers amid higher mortgage rates.
Shares of retailer Home Depot jumped early last week after posting better-than-expected profits. (Justin Sullivan/Getty Images / Getty Images)
In economic data, retail sales, industrial production, business inventories and the NAHB housing market index will be released.
As for Fed speeches, Federal Reserve Bank of Cleveland President Loretta Mester, Federal Reserve Bank of Atlanta President Raphael Bostic, Federal Reserve Bank of Chicago President Austan Goolsbee and New York Federal Reserve President John Williams will also speak.
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Tesla Motors CEO Elon Musk speaks at the Tesla Giga Texas manufacturing "Cyber Rodeo" grand opening party in Austin, Texas, April 7, 2022. (Suzanne Cordeiro/AFP Via Getty Images / Getty Images)
Tesla will hold its annual meeting at Gigafactory Texas. Optimism has grown that Elon Musk will return his energy to Tesla after stepping back from the CEO role at Twitter.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 167.98 | -4.10 | -2.38% |
On Friday, he announced Linda Yaccarino will take over the top role at the social media platform.
Linda Yaccarino, chairman of advertising and partnerships at NBCUniversal, and Lorne Michaels, executive producer of "Saturday Night Live" speak on stage during the NBC session at the Cannes Lions 2019 June 21, 2019, in Cannes, France. (Richard Bord/Getty Images for Cannes Lions / Getty Images)
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Wednesday, May 17
Earnings Wednesday morning will include Jack in the Box, Target, TJX Cos and Tupperware Brands.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JACK | JACK IN THE BOX INC. | 95.12 | +0.45 | +0.48% |
| TGT | TARGET CORP. | 157.99 | -0.88 | -0.55% |
| TJX | THE TJX COS. INC. | 78.97 | +0.91 | +1.17% |
| TUP | TUPPERWARE BRANDS CORP. | 0.71 | -0.05 | -6.26% |
After markets close, Cisco Systems, Synopsys and Take-Two Interactive will all report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JACK | JACK IN THE BOX INC. | 95.12 | +0.45 | +0.48% |
| TGT | TARGET CORP. | 157.99 | -0.88 | -0.55% |
| TJX | THE TJX COS. INC. | 78.97 | +0.91 | +1.17% |
| TUP | TUPPERWARE BRANDS CORP. | 0.71 | -0.05 | -6.26% |
Wednesday's economic data will include MBA mortgage applications, building permits, housing starts and EIA weekly crude stocks.
JPMorgan will host its annual meeting virtually. Recently, the bank took over First Republic's assets after it was taken over by regulators.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 134.10 | -1.95 | -1.43% |
Thursday, May 18
On Thursday, earnings in the morning will include Alibaba, Dole PLC and Walmart.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BABA | ALIBABA GROUP HOLDING LTD. | 85.34 | -2.55 | -2.90% |
| DOLE | DOLE PLC | 11.90 | -0.08 | -0.67% |
| WMT | WALMART INC. | 153.09 | -0.03 | -0.02% |
The nation's largest retailer will give insight into how Americans are dealing with inflation, which remains above 5%.
After the markets, Applied Materials, DXC Technology and Ross Stores will report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMAT | APPLIED MATERIALS INC. | 116.09 | +0.63 | +0.55% |
| DXC | DXC TECHNOLOGY CO. | 22.87 | +0.03 | +0.13% |
| ROST | ROSS STORES INC. | 104.51 | +1.98 | +1.93% |
Economic data on Thursday will keep investors busy as they closely watch initial jobless claims, the Philly Fed business index, existing home sales and conference board’s index of leading economic indicators to keep their fingers on the pulse of the economy.
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Friday, May 19
Earnings on Friday will be rounded out by Deere & Company and Foot Locker.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DE | DEERE & CO. | 373.98 | +1.19 | +0.32% |
| FL | FOOT LOCKER INC. | 39.23 | +0.60 | +1.55% |
Toyota will debut its much anticipated 2024 Tacoma.
Koji Sato, president of Toyota Motor Corp., during a news conference in Tokyo, Japan, April 7, 2023. (Akio Kon/Bloomberg via Getty Images / Getty Images)
Jessica MacKenzie contributed to this story.
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