Week Ahead on Wall Street

Economic Data

Today the US Census Bureau and Bureau of Economic Analysis will release the advance report on February’s trade in goods, which tracks the country’s imports and exports. In January, the revised goods and services deficit came in at $89.7 billion, which was up $7.7 billion from the previous month.

Tomorrow, the Job Openings and Labor Turnover Survey (JOLTS) report for February is due. Broadly speaking it looks at job openings and resignations. January’s report showed 11.26 job openings, which was more than the 10.9 million economists had predicted. Job resignations fell to 4.75 million in January, the lowest number since October 2021. Also, be on the lookout for January’s Case-Shiller national house price index and the FHFA national house price index, as well as March’s consumer confidence index.

Wednesday, ADP will publish its employment report for March. In February, the economy added 475,000 private sector jobs, exceeding expectations. The revised fourth-quarter GDP, gross domestic income, and corporate profits reports are also set for release.

Thursday, the Personal Consumption Expenditures Price Index (PCE) for February is due. It’s considered the Fed’s preferred inflation gauge despite being less well known than the CPI. The PCE aims to track how consumers change their spending habits amid rising prices. January’s index rose by 6.1% year-over-year, the biggest increase since February 1982. Similar to the CPI, as the PCE index increases, prices are rising in accordance with inflation.

Friday, February’s construction spending will be released, as well as March’s unemployment rate, non-farm payrolls, and motor vehicle sales. Nonfarm payrolls jumped by 678,000 in February and the unemployment rate fell to 3.8%. This reading beat expectations of 440,000 and 3.9%, respectively.

Earnings

Today Dave & Busters (PLAY) will post its most recent results, after its earnings per share beat analyst estimates by 75% in the third quarter of 2021. The restaurant and video arcade company has exceeded Wall Street’s expectations for profit in four straight quarters. Analysts note Dave and Busters recently rolled out a new menu and marketing plan.

Tuesday, pet products ecommerce giant Chewy (CHWY) will report earnings. Analysts are expecting a decline in earnings for the fourth quarter of 2021. Chewy, much like Zoom (ZM) and Peloton (PTON), exploded throughout the pandemic with people staying at home and buying more products online. After reaching $120 per share in February of last year the stock has largely plummeted.

On Wednesday, BioNTech (BNTX) will hand in its latest report card. The German biotech company will be sharing results for both Q4 2021 and the last year as a whole. In early April, BioNTech and Pfizer (PFE) are expected to report results concerning the effectiveness of their COVID-19 vaccine for kids under six years old.

Thursday, Blackberry (BB) is set to report earnings. The Canadian software company recently announced that its Blackberry Radar has been integrated into ISAAC Instruments’ Open Platform, which helps tractor-trailer companies manage their fleets.

Friday, cannabis stock ICANIC Brands (ICNAF) will share its most recent results. The Vancouver, Canada-based company operates within both California and Nevada. In late January, ICANIC announced it would be acquiring LEEF Holdings for $120 million, which is one of California’s largest cannabis extraction companies.

The Week Ahead at SoFi

This week’s webinars feature discussions on what it means to be financially independent and how to navigate crypto responsibly. Plus, tune in to this week’s Your Next Dollar livestream. Save your seat!

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