Joe Duran, Head of Personal Finance at Goldman Sachs, on the rally in cyclical stocks for consumer sentiment.
The September monthly job report is just one of several developments on the investor radar next week.
This was because stocks posted solid gains in early October and the fourth quarter. On Friday, the Dow Jones Industrial Average rose 483 points, or 1.4%, while the S&P 500 Index and Nasdaq Composite rose 1.1% and 0.8%, respectively. Still, all three posted losses for the week.
FOX Business takes a look at the upcoming events that are likely to move the financial markets in the coming days.
OPEC ministers are also expected to finalize compliance figures on oil production cuts. In September, OPEC agreed to increase its production targets by 400,000 barrels per day in October.
In addition, Walmart requires that all US employees above the store and club level, such as B. regional managers and company employees are fully vaccinated.
In the meantime, the trade deficit, the Markit Services PMI and the ISM services index will be on the list of economic data.
Also on Tuesday, Microsoft will unveil its highly anticipated Windows 11 software update, which is an important one A source of income for the technology giant.
In addition, a Facebook whistleblower is expected to appear at a hearing to investigate the harmful effects of the tech giant’s platforms on young people. The Trade, Science and Transport Subcommittee on Consumer Protection, Product Safety and Data Security will host the testimony.
On Wednesday, investors will take profits from Constellation Brands before the store opens and Levi Strauss & Co. after the bell.
At the end of the week, Conagra Brands and Tilray will be before the store opens.
What they As for economic data, Wall Street will monitor initial and ongoing jobless claims and consumer credit. It will also be a big day for Tesla as the electric vehicle maker holds its annual meeting at its Gigafactory in Austin, Texas at 5:30 p.m. Easter time. A live webcast of the meeting will be made available to the public here and the agenda for the meeting can be found here.
The end of the week for Friday’s economic data will be September’s job report.
It also marks the end of Robert Kaplan’s tenure as President and Chief Executive Officer of the Federal Reserve Bank of Dallas. In a statement, Kaplan said it was “his” “great honor to have worked in this capacity for the past six years, working with the bank’s brilliantly talented professionals who are helping to build a stronger economy for all communities in the Eleventh Country.” District and our nation. “
Both Kaplan and Boston Fed chief Eric Rosengren recently came under fire after financial disclosures revealed the pair had made significant stock deals over the past year, which drew the attention of critics who said That said, the rules on assets that Fed officials might hold would need to be adjusted. According to the news, Rosengren, who served 35 years with the Boston Fed, including 14 years as president, announced that he would be retiring early in late September for health reasons.
“During my tenure, I followed all of the Federal Reserve’s ethical standards and guidelines,” said Kaplan. “My investment activities and disclosures were in line with the bank’s compliance rules and standards.” Federal Reserve Chairman Jerome Powell promised that the agency would make changes in response to the backlash.
“We understand very well that the trust of the American people is essential for us to effectively carry out our mission, and that is why I have instructed the Fed to carry out a full review of the ethical rules regarding financial participation and allowance.” To begin activities of Fed officials. ”. “He said at a press conference after the Fed meeting in September. In addition, Friday is the deadline for the founders of six SPACs to respond to a letter from Senate Democrats asking for information on concerns about “misplaced incentives” among investors. </ Its creators include Stephen Girsky, Managing Partner of VectoIQ, Tilman Fertitta, CEO of Fertitta Entertainment, Michael Klein, Founder of M. Klein & Associates, Howard Lutnick, CEO of Cantor Fitzgerald, David Hamamoto, Chairman and CEO of DiamondHead Holdings Corporation as Co-Founder and CEO of The Social Capital Partnership Chamath Palihapitiya.
The information requested by the Senators includes which SPACs the creators are involved in, their relationships with the shell companies, their communications with investors, and possible financial interests related to the SPACs.
According to the survey, staff shortages are spreading to every corner of UK business …