“The Bubba Show” host Todd Horowitz and Seaport Securities founder Ted Weisberg analyze the resilient U.S. economy after new inflation data came in higher than expected on “The Claman Countdown.”
It’s going to be a busy week ahead for investors full of congressional hearings, big names and major earnings reports.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGES | 33390.97 | +387.40 | +1.17% |
| SP500 | S&P 500 | 4045.64 | +64.29 | +1.61% |
The stock market it’s coming off a solid week with the Dow Jones Industrial Average and S&P 500 up nearly 2% while the Nasdaq Composite rose 2.6%.
FOX Business breaks down the week’s top market events:
FED UPDATES MORE RATE HIKS NEEDED TO FIGHT STRONG INFLATION
Monday, March 6
On Monday at 11:00 am ET, the TikTok CEO will virtually talk about what’s next for social media at an event celebrating 100 years of the Harvard Business Review.
In earnings news before the opening bell, Lordstown Motors reports.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| RIDE | LORDSTOWN MOTORS | 1.12 | +0.06 | +5.66% |
Earnings after the bell include Grindr, Sealed Air, thredUP and WW International.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| GRND | GRINDR | 6.60 | +0.05 | +0.76% |
| I SEE | SEALED AIR CORP. | 49.12 | +0.39 | +0.80% |
| TDUP | THREDUP INC. | 1.60 | -0.05 | -3.03% |
| WW | WW INTERNATIONAL INC. | 4.25 | +0.38 | +9.82% |
In economic news, factory orders for US manufactured goods are forecast to fall 3.7%.
Tuesday, March 7
On Tuesday, Federal Reserve Chairman Powell will deliver his semiannual monetary policy report to lawmakers.
Jerome Powell, Chairman of the Federal Reserve Board, attends a Central Bank Symposium at the Grand Hotel in Stockholm, Sweden on January 10, 2023. (CLAUDIO BRESCIANI/TT News Agency/AFP via Getty Images/Getty Images)
Also in Washington, DC, the District of Columbia Court of Appeals will hear oral arguments in Grayscale’s lawsuit against the SEC after it blocked Grayscale’s attempt to convert its Bitcoin Trust into an ETF.
Grayscale CEO Michael Sonnenshein shared his perspective on the case with FOX Business.
Full interview below:
FOX Business’ Charlie Gasparino talks to Grayscale Investments CEO Michael Sonnenshein about his company’s case against the SEC over its denial of a bitcoin ETF on “The Claman Countdown.”
FTX FALLOUT HITS SILVERGATE, BITCOIN
On Capital Hill, House Ways and Means will hold a hearing on the State of the American Economy: The Heartland and Senate Banking Housing and Urban Affairs will hold a hearing on the federal debt limit and its economic and financial consequences.
In earnings, Barnes & Noble Education, Dick’s Sporting Goods, Dole PLC and Vivid Seats all reported before the market opened.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| BNED | BARNES & NOBLE EDUCATION INC COM | 1.89 | -0.05 | -2.58% |
| DKS | DICK’S SPORTING GOODS INC. | 132.12 | +2.65 | +2.05% |
| UNEMPLOYMENT AID | DOLE PLC | 12.29 | +0.21 | +1.74% |
| SEAT | VIVID SEATS INC | 7.19 | -0.40 | -5.27% |
After the markets close, Bsquare, Casey’s General Stores and Stitch Fix will all report profits.
Economic data will include wholesale inventories, wholesale sales and consumer credit forecast to increase by $20 billion, while the ISM Hospital Supply Chains Report will be released at 10:00 AM. ET.
Wednesday, March 8
Wednesday will mark the first meeting of the new board created by Florida State Government under Governor DeSantis to oversee the development of Disney World.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 101.14 | +2.22 | +2.24% |
DESANTIS APPOINTS ‘MOMS FOR LIBERTY’ CO-FOUNDERS TO NEW DISNEY WORLD BOARD
Elsewhere, the Pennsylvania state Senate subpoenaed the CEO of Norfolk Southern to testify about the derailment in East Palestine, Ohio. The hearing will be the first time a legislature in the United States has heard testimony from the CEO in the wake of the disaster.
BEWARE: OHIO RESIDENTS ARE FREAKING OUT
A Norfolk South official came under fire on behalf of his company at an East Palestine town hall in Ohio on Thursday. (WEWS)
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| NSC | NORFOLK SOUTHERN CORP. | 228.35 | -0.25 | -0.11% |
After a 22% drop in holiday sales and some layoffs, Mattel will give investors a strategic update and stock plans for the year at a virtual investor meeting. Rival Hasbro could also be active.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| MAT | MATTEL INC. | 18.06 | +0.17 | +0.95% |
| HE’S GOT | HASBRO INC. | 55,62 | +0.55 | +1.00% |
The Senate Health Education Labor and Pensions Business will vote on the subpoena of Howard Schultz, CEO of Starbucks Corporation. a hearing will immediately follow to consider the defense of the right of workers to organize unions free from illegal union busting. Last week, Starbucks told FOX Business that they are in contact with Sen. Bernie Sanders about the request, but at this point they are maintaining the original decision not to appear.
JUDGE SAYS STARBUCKS COMMITTED ‘STUNNING AND INDEPENDENT’ LABOR VIOLATIONS ANTI-UNION FIGHTING
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 104.55 | +1.54 | +1.50% |
Premarket gains will include Brown-Forman, Campbell Soup, United Natural Foods and Vita Coco.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| BF.B | BROWN-FORMAN CORP. | 67.03 | +1.19 | +1.80% |
| CPB | CAMPBELL SOUP CO. | 52.41 | -0.01 | -0.02% |
| UNFI | UNITED NATURAL FOODS INC. | 42,63 | +0.41 | +0.97% |
| COCOA | VITA COCO CO. | 17.11 | 0.00 | 0.00% |
After the bell the winnings will include Fossil, Groupon, IDT and loanDepot.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| FOSL | FOSSIL GROUP INC. | 4.57 | +0.12 | +2.70% |
| GRPN | GROUPON INC. | 6.82 | +0.07 | +1.04% |
| IDT | IDT CORP | 30.64 | +0.22 | +0.72% |
| LDI. | no | no | no | no |
Wednesday’s economic date will include mortgage applications, ADP national employment, international trade, JOLTS jobs, weekly EIA crude inventories and the WASDE crop report.
AMERICA’S LOW LABOR PARTICIPATION RATE ‘SOCIAL AND ECONOMIC DISASTER,’ EXPERTS WARN
Thursday, March 9
On Thursday, winnings include BJ’s Wholesale Club, Build-A-Bear Workshop, JD.com and the Wheels Up Experience.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| BJ | BJS WHSL CLUB HLDGS INC | 73.96 | -0.18 | -0.24% |
| BBW | BUILD A BEAR WORKSHOP INC | 21.09 | +0.42 | +2.03% |
| JD | JD.COM INC. | 47,46 | +0.39 | +0.83% |
| UP | WHEELS UP EXPERIENCE INC | 1.13 | +0.01 | +0.89% |
After the bell, earnings from American Outdoor Brands, Gap, Smith & Wesson Brands, Ulta Beauty and Vail Resorts will be released.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| AOBC | no | no | no | no |
| GPS | GAP INC. | 12.77 | -0.02 | -0.16% |
| SWBI | SMITH & WESSON BRANDS | 11.11 | +0.36 | +3.35% |
| ULTA | ULTA BEAUTY INC. | 522.06 | +0.94 | +0.18% |
| MTN | VAIL RESORTS | 239.04 | +1.87 | +0.79% |
Thursday’s economic data will include competitor layoffs and initial jobless claims.
Also on Thursday, Disney’s Bob Iger will participate in a Q&A at Morgan Stanley’s Tech, Media and Telecom Conference.
LOS ANGELES, CA – NOVEMBER 18: Disney Executive Chairman Bob Iger attends the exclusive 100-minute sneak peek of Peter Jackson’s The Beatles: Get Back at the El Capitan Theater on November 18, 2021 in Hollywood, California. (Photo by Charley Gall ((Photo by Charley Gallay/Getty Images for Disney) / Getty Images)
Iger, who returned to replace Bob Chapek after a firestorm of public relations blunders, is speculated to be considering a successor. Charlie Gasparino of FOX Business reported last week that NBA Commissioner Adam Silver may be on the short list.
big?”>Disney.
BJ’s Wholesale Club will hold an investment day after the earnings release to update its long-term growth strategy and outlook.
| Heart | Security | last | Change | Change % |
|---|---|---|---|---|
| BJ | BJS WHSL CLUB HLDGS INC | 73.96 | -0.18 | -0.24% |
Friday, March 10
Florida Governor Ron DeSantis will be in Iowa for events in Des Moines and Davenport. At both events DeSantis will be interviewed by Iowa Governor Kim Reynolds.
Florida Governor Ron DeSantis on January 31, 2023. (James A. Jones Jr./The Bradenton Herald/Tribune News Service via Getty Images) (James A. Jones Jr./The Bradenton Herald/Tribune News Service via Getty Images/Getty Images)
At noon on Friday, Apple will kick off its annual shareholder meeting, where CEO Tim Cook and General Counsel Kate Adams will take the virtual stage to field carefully selected questions from shareholders and provide some company updates.
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In Massachusetts, mobile sports betting will go live.
Friday’s economic data will include the February jobs report and the federal budget.
US employers are expected to have added 200,000 jobs last month, up from a strong 517,000 reported in January. The unemployment rate is expected to remain stable at 3.4%.
There are no note gains on Friday.