Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries JPMorgan earnings, inflation data and UAW strike top week ahead By: FOX Business October 08, 2023 at 11:00 AM EDT The United Auto Workers strike against Ford, General Motors and Stellantis is entering its fourth wee, and Wall Street investors eye earnings from JPMorgan, Blackrock and PepsiCo. Investors will gear up for the start of earnings season with the big banks kicking off results and the United Auto Workers strike against Detroit’s Big Three entering its fourth week. Stocks rose Friday and for the week after a stronger-than-expected September jobs report. A bulk of the gains came from the tech-heavy Nasdaq, which gained 1.6%. TRUMP DROPS OFF FORBES LIST OF RICHEST AMERICANS AMID MANHATTAN FRAUD TRIALColumbus DayMonday marks Columbus Day with many banks closed for the federal holiday, but U.S. financial markets will be open for trading. Investors will also be keeping tabs on the latest from the UAW as the strike drags into its fourth week. On Friday, the UAW declined to expand the strike against GM, Ford and Stellantis, saying progress was being made. Additionally, fresh data from the Anderson Economic Group on how much the strike may cost the U.S. economy may be released. And Wall Street will be on alert for any information on Birkenstock's widely anticipated IPO, which may price in the coming week, according to Renaissance Capital. BIRKENSTOCK HEADS TO WALL STREET WITH IPO FILINGSoda, snacks and luxury goodsEconomic data on wholesale inventories and trade sales are slated for the day, while PepsiCo will release earnings along with LVMH. Market value for the luxury goods maker hit the $500 billion plateau in April, making the brand one of the world's 10 biggest companies. It's founder, Bernard Arnault, is the world's richest man with a net worth of $211 billion as tracked by Forbes. First of two inflation reportsInvestors will get data for the producer price index, the first of two inflation reports of the week. The PPI is expected to rise 1.6%, matching the prior month, per economist estimates. SEE HOW MUCH HIGHER MORTGAGE RATES ARE ACTUALLY COSTING YOUCPI, oil prices The Consumer Price Index will be released, and economists expect the inflation rate to rise 3.6% compared to a 3.7% rise in the prior month. Elsewhere, the Strategic Petroleum Reserve will provide an update on storage. In the prior report, for the week ending Sept. 22, it contained 350,980,000 barrels of oil. The U.S. is consuming an average of about 20 million barrels a day, leaving the country with a little over 17 days of oil in an emergency.EXXON MULLS PIONEER DEAL, SHARES JUMPThe price of oil was down last week, dropping to around $82 dollar per barrel after rising to $95 per barrel almost two weeks ago.Oil producers like Hess, Chevron and Occidental Petroleum reflect the drop in crude prices as all three finished last week in the red.ALASKA BEGINS DISTRIBUTING RESIDENTS' ANNUAL ENERGY DIVIDENDSDelta Air Lines, Walgreen’s Boots and Domino’s Pizza will report earnings before the opening bell. Last week, reports surfaced that Delta, along with United, Southwest Airlines and American Airlines, may have sourced unapproved parts from AOG Technics, a firm that acquires parts before selling them to maintenance and repair organizations.SPIRIT AIRLINES PARTNERS WITH LIBERTY UNIVERSITY FLIGHT SCHOOL, LOOKS TO ADDRESS PILOT SHORTAGEDelta told Fox News Digital the parts were discovered in "a small number" of aircraft engines during a recent overhaul.Big banks kick off earnings season Earnings from Blackrock, Wells Fargo, JPMorgan, Citigroup and PNC Financial will all be reported Friday morning before the opening bell, kicking off the official start of the third-quarter reporting season. GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business reporter Breck Dumas contributed to this report. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
JPMorgan earnings, inflation data and UAW strike top week ahead By: FOX Business October 08, 2023 at 11:00 AM EDT The United Auto Workers strike against Ford, General Motors and Stellantis is entering its fourth wee, and Wall Street investors eye earnings from JPMorgan, Blackrock and PepsiCo. Investors will gear up for the start of earnings season with the big banks kicking off results and the United Auto Workers strike against Detroit’s Big Three entering its fourth week. Stocks rose Friday and for the week after a stronger-than-expected September jobs report. A bulk of the gains came from the tech-heavy Nasdaq, which gained 1.6%. TRUMP DROPS OFF FORBES LIST OF RICHEST AMERICANS AMID MANHATTAN FRAUD TRIALColumbus DayMonday marks Columbus Day with many banks closed for the federal holiday, but U.S. financial markets will be open for trading. Investors will also be keeping tabs on the latest from the UAW as the strike drags into its fourth week. On Friday, the UAW declined to expand the strike against GM, Ford and Stellantis, saying progress was being made. Additionally, fresh data from the Anderson Economic Group on how much the strike may cost the U.S. economy may be released. And Wall Street will be on alert for any information on Birkenstock's widely anticipated IPO, which may price in the coming week, according to Renaissance Capital. BIRKENSTOCK HEADS TO WALL STREET WITH IPO FILINGSoda, snacks and luxury goodsEconomic data on wholesale inventories and trade sales are slated for the day, while PepsiCo will release earnings along with LVMH. Market value for the luxury goods maker hit the $500 billion plateau in April, making the brand one of the world's 10 biggest companies. It's founder, Bernard Arnault, is the world's richest man with a net worth of $211 billion as tracked by Forbes. First of two inflation reportsInvestors will get data for the producer price index, the first of two inflation reports of the week. The PPI is expected to rise 1.6%, matching the prior month, per economist estimates. SEE HOW MUCH HIGHER MORTGAGE RATES ARE ACTUALLY COSTING YOUCPI, oil prices The Consumer Price Index will be released, and economists expect the inflation rate to rise 3.6% compared to a 3.7% rise in the prior month. Elsewhere, the Strategic Petroleum Reserve will provide an update on storage. In the prior report, for the week ending Sept. 22, it contained 350,980,000 barrels of oil. The U.S. is consuming an average of about 20 million barrels a day, leaving the country with a little over 17 days of oil in an emergency.EXXON MULLS PIONEER DEAL, SHARES JUMPThe price of oil was down last week, dropping to around $82 dollar per barrel after rising to $95 per barrel almost two weeks ago.Oil producers like Hess, Chevron and Occidental Petroleum reflect the drop in crude prices as all three finished last week in the red.ALASKA BEGINS DISTRIBUTING RESIDENTS' ANNUAL ENERGY DIVIDENDSDelta Air Lines, Walgreen’s Boots and Domino’s Pizza will report earnings before the opening bell. Last week, reports surfaced that Delta, along with United, Southwest Airlines and American Airlines, may have sourced unapproved parts from AOG Technics, a firm that acquires parts before selling them to maintenance and repair organizations.SPIRIT AIRLINES PARTNERS WITH LIBERTY UNIVERSITY FLIGHT SCHOOL, LOOKS TO ADDRESS PILOT SHORTAGEDelta told Fox News Digital the parts were discovered in "a small number" of aircraft engines during a recent overhaul.Big banks kick off earnings season Earnings from Blackrock, Wells Fargo, JPMorgan, Citigroup and PNC Financial will all be reported Friday morning before the opening bell, kicking off the official start of the third-quarter reporting season. GET FOX BUSINESS ON THE GO BY CLICKING HEREFOX Business reporter Breck Dumas contributed to this report.