Walmart earnings, Biden’s controversial Treasury pick on the hill and housing data top week ahead

FILE PHOTO: Federal appeals court judges L-R: Raymond Kethledge, Brett Kavanaugh, Amy Coney Barrett, and Thomas Hardiman, being considered by President Donald Trump for the U.S. Supreme Court, are seen in this combination photo from files. REUTERS/File Photos

Expect market melt-up despite ‘illusion’ it’s a riskless entity: Lowell

Adviser Investments CIO Jim Lowell discusses the impact of ‘runaway’ inflation on ‘Mornings with Maria.’

The upcoming week will be dominated by retail earnings and key manufacturing and housing data. President Biden will also host leaders from Canada and Mexico in the back half of the week as he looks to strengthen alliances and tackle global issues. 

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES36100.31+179.08+0.50%
SP500S&P 5004682.85+33.58+0.72%
I:COMPNASDAQ COMPOSITE INDEX15860.957679+156.68+1.00%

This after markets rallied on Friday led by big tech and industrial stocks, but finished down for the week. FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. 

Monday 11/15

Kicking off the week for earnings will be Tyson Foods before the market open and Advanced Auto Parts and Casper Sleep after the bell. Economic data will be relatively quiet on Monday, though the Empire State manufacturing index is on the board.

TickerSecurityLastChangeChange %
TSNTYSON FOODS, INC.81.23-1.90-2.29%
AAPADVANCE AUTO PARTS, INC.239.04+0.59+0.25%
CSPRCASPER SLEEP INC3.55+0.36+11.29%

Monday also marks the deadline to apply for the Child Tax Credit through the IRS without filing a tax return, and for all U.S. employees at Eli Lilly and Micron Technology to be fully vaccinated. In addition, YouTube will kick off a week-long holiday shopping event.  

TickerSecurityLastChangeChange %
LLYELI LILLY & CO.259.65-2.13-0.81%
MUMICRON TECHNOLOGY, INC.77.30+2.75+3.69%
GOOGLALPHABET, INC.2,973.56+58.23+2.00%

In the world of politics, Commerce Secretary Gina Raimondo will make her first official visit to Asia.

Commerce Secretary Gina Raimondo speaks during a Nov. 4 press conference. (Craig Hudson/Bloomberg) (Craig Hudson/Bloomberg / Getty Images)

Raimondo will meet with government officials and business leaders in Japan, Singapore and Malaysia throughout the week to discuss key areas such as supply chain resilience, digital economy and technology, common standards, and supporting regional infrastructure projects.

Tuesday 11/16

Home Depot and Walmart will take the spotlight for earnings before the market open on Tuesday, while La-Z-Boy will be in focus after the bell. 

TickerSecurityLastChangeChange %
HDTHE HOME DEPOT, INC.372.63+5.00+1.36%
WMTWALMART, INC.147.76-0.74-0.50%
LZBLA-Z-BOY, INC.37.58+0.64+1.73%

Economic data will ramp up on Tuesday with import and export prices, retail sales, industrial production, business inventories and the National Association of Homebuilders' housing market index. 

Atlanta Fed President Raphael Bostic will also participate in a virtual panel before the Federal Reserve Racism and the Economy: Focus on Financial Services event and San Francisco Fed president Mary Daly will speak before the Commonwealth Club, San Francisco hybrid event. 

On Capitol Hill, the House will hold a hearing with Small Business Administration administrator Isabella Casillas Guzman and the Senate will hold a hearing to examine the causes, outlook, and implications of domestic and international energy price trends.

Wednesday 11/17

Earnings on the docket for Wednesday include Lowe’s, Shoe Carnival, Target and TJX Companies before the market open and Bath & Body Works, Cisco Systems, NVIDIA, Sonos and Victoria’s Secret after the bell. 

TickerSecurityLastChangeChange %
LOWLOWE’S COS., INC.236.32+4.00+1.72%
SCVLSHOE CARNIVAL39.63-0.26-0.65%
TGTTARGET CORP.260.02+4.01+1.57%
TJXTHE TJX COS., INC.68.80+0.58+0.85%
BBWIBATH & BODY WORKS, INC.74.85-0.79-1.04%
CSCOCISCO SYSTEMS, INC.56.82+0.06+0.11%
NVDANVIDIA CORP.303.900.000.00%
SONOSONOS, INC.33.94-0.50-1.45%
VSCOVICTORIA’S SECRET & CO.51.46+1.13+2.25%

Investors will also take in building permits, housing starts, weekly mortgage applications and the Energy Information Administration's weekly crude stocks.

In addition, Federal Reserve officials will continue to make the rounds on Wednesday, including:

  • New York Fed president John Williams giving a virtual keynote and San Francisco Fed president Mary Daly participating in a fireside chat virtually before the 2021 U.S. Treasury Market Conference
  • Cleveland Fed president Loretta Mester giving opening remarks before the 2021 Financial Stability Conference, “Planning for Surprises, Learning from Crises”
  • Chicago Fed president Charles Evans speaking about current economic conditions and monetary policy in a moderated Q&A with the Mid-Size Bank Coalition of America
  • Atlanta Fed president Raphael Bostic giving closing remarks virtually before the Federal Reserve Community Development Research Seminar Series event.

Thursday 11/18

Biden’s controversial pick to lead Comptroller of the Currency, Saule Omarova, will appear before the Senate Banking Committee. Her comments that have drawn criticism include her call to end banking "as we know it," by "the complete migration of demand deposit accounts to the Federal Reserve." Additionally, the Cornell Law Professor, called the financial services industry she would regulate in her potential new job the "quintessential a—— industry. 

Ms. Saule T. Omarova, Professor of Law and Director, Jack Clarke Program on the Law and Regulation of Financial Institutions and Markets, Cornell University. Fintech: Examining Digitization, Data, and Technology September 18, 2018 (Senate Committee on Banking, Housing and Urban Affairs)

Earnings will begin to wind down on Thursday with BJ’s Wholesale Club, Kohl’s and Macy’s before the market open and Applied Materials, Intuit, Ross Stores and Workday after the bell. Finishing out economic data for the week will be the Philadelphia Fed manufacturing index, the latest in initial and continuing jobless claims and the index of leading economic indicators. 

TickerSecurityLastChangeChange %
BJBJS WHSL CLUB HLDGS INC62.40+1.21+1.98%
KSSKOHL’S CORP.57.34-0.86-1.48%
MMACY’S, INC.30.46-0.43-1.39%
AMATAPPLIED MATERIALS, INC.156.82+2.92+1.90%
INTUINTUIT, INC.626.99+20.12+3.32%
ROSTROSS STORES, INC.115.50+0.03+0.03%
WDAYWORKDAY, INC.296.45+1.21+0.41%

Meanwhile, New York Fed president John Williams will participate in "Fireside Chat: The New Federal Reserve and ECB Strategies – Implications for Monetary Policy" before virtual Transatlantic Economic Policy Responses to the Pandemic and the Road to Recovery event, Chicago Fed president Charles Evans will discuss current economic conditions and monetary policy in a moderated Q&A with the 2021 BKD Financial Services Symposium and San Francisco Fed president Mary Daly will participate in the virtual Fed Listens 2021: Pandemic Recovery and the role of Care Work event.

President Biden will also host Canadian Prime Minister Justin Trudeau and Mexican President Andrés Manuel López Obrador at the White House to discuss the coronavirus pandemic, economic competitiveness and growth, climate change, and migration. The meeting comes about a week after the U.S. reopened its land borders with Canada and Mexico for the first time in 20 months.

Friday 11/19

Wrapping up the week will be earnings from Buckle, Destination XL Group and Foot Locker.

TickerSecurityLastChangeChange %
BKETHE BUCKLE, INC.49.45+0.76+1.56%
DXLGDESTINATION XL GROUP8.30+0.44+5.60%
FLFOOT LOCKER, INC.54.94+1.08+2.01%

Other notable events on Friday include the start of the LA Auto Show, the opening of Apple's expanded store at the Grove in Los Angeles and the launch of Samsung's Exynos chip for gaming. 

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