The coming week will be packed with Merits from big names like Pfizer, Moderna, CVS Health, Under Armor, Uber, Lyft and General Motors.
Jobs This week will also feature the ADP Unemployment Report on Wednesday and Payroll Outside Farm on Friday.
This is because U.S. stocks are near record highs after pulling back last week.
FOX Business takes a look at the upcoming events that are likely to move the financial markets in the coming days.
Alexion Pharmaceuticals, Estee Lauder and Loews will start weekly earnings before the opening bell.
When it comes to economic data, investors in Markit manufacturing will pay particular attentionndex and the index of purchasing managers of the Institute for Procurement Management for the Manufacturing Sector for the month of April and the construction expenditure for the month of March.
Monday will also be a big day for Bitcoin as the CME launches a “micro-bitcoin” futures contract and expands its suite of crypto derivatives. According to the CMEMicro Bitcoin futures will be a tenth the size of a Bitcoin and will offer market participants “another tool to hedge their spot Bitcoin price risk or to efficiently and inexpensively execute Bitcoin trading strategies while maintaining the features” and benefits of standard Bitcoin -Futures of the CME Group. “
This after Charlie Munger, Warren Buffett’s right-hand man, destroyed the cryptocurrency at the annual Berkshire Hathaway meeting over the weekend.
The ongoing legal battle between Epic Games and Apple will also come to a head on Monday as a week-long antitrust process begins over the year The technology giant’s decision to get Epic and its popular video game Fortnite from the App Store. The move came in response to the video game maker’s decision last year to introduce a direct payment system in Fortnite to avoid Apple’s fees.
On Tuesday, investors will see profits from ConocoPhillips, CVS Health, Pfizer and Under Armor ahead of the opening bell, while winners will include Activision Blizzard, Allegiant Travel, Caesars Entertainment, Denny’s, Lyft, T-Mobile, Virgin Galactic and Zillow top names to look after the bell.
The story goes on
Meanwhile, investors will also receive data on the trade deficit and factory orders for the month of March.
On Tuesday’s legal news, the disgraced former CEO and founder of Theranos, Elizabeth Holmes, and former President and Chief Operating Officer, Ramesh “Sunny” Balwani, will be on trial. Holmes and Balwani are charged with two wire fraud conspiracy cases and nine wire fraud charges.
According to the Justice Department chargesThe indictment arises from allegations that Holmes and Balwani ran a multi-million dollar investor fraud program and a separate doctor and patient fraud scheme. The indictment alleges that Holmes and Balwani defrauded doctors and patients by making false claims about Theranos ‘ability to provide accurate, quick, reliable, and cheap blood work and test results, and by providing information about Theranos’ limitations and problems -To leave out technologies.
“The defendants knew that Theranos was not able to always achieve accurate and reliable results for certain blood tests,” wrote the federal prosecutor.
In addition, executives have allegedly made numerous misrepresentations to potential investors about Theranos’ financial condition and future prospects, including that the healthcare company would break-even in sales of over $ 100 million in 2014 and expected sales of around $ 1 billion US dollars would achieve in 2015.
If convicted, the defendants face a maximum sentence of 20 years in prison and a fine of $ 250,000 plus reimbursement for any number of wire fraud cases and any number of conspiracies.
Also on Tuesday is Taco Bell Start your first global campaign with a free taco promotion. According to the company, May 4th was chosen due to a lunar event the restaurant chain has named “The Taco Moon”.
Over 20 markets will attend the event including the UK, Australia, India, Costa Rica, Guatemala and Puerto Rico. Taco Bell will be giving away the free tacos from 8:00 p.m. to 11:59 p.m. According to reports, this is when Taco Moon is “the largest and brightest object in the night sky.”
Employment will be the focus on Wednesday when ADP releases its national employment report for April. The US economy Last month, 517,000 jobs were created in the private sectorThis was strongest in the last five months, when the reopening of the economy boosted service sector growth. Other economic data to watch include mortgage applications, the Energy Information Administration’s weekly crude oil inventories, and the ISM services index.
Results seen ahead of Wednesday’s opening bell include AmerisourceBergen, General Motors, Hilton Worldwide Holdings, Lumber Liquidators, Sinclair Broadcast and Tupperware.
After the bell, Fox Corporation, parent company of FOX Business and Fox News, GoDaddy, Marriott Vacations Worldwide, Metflife, Rocket Companies, Uber, WW International and Zynga will be posting profits.
In Auto-News, NASCAR will also showcase its three models for the Next Generation Cup Series sports vehicle, which is due to hit the market in 2022. The three models took their first turn on the Martinsville Speedway circuit earlier this year as part of a closed test. In addition to the bodies of the racing cars, specifications and additional elements of the vehicles are also announced.
On Thursday, Allstate, Blue Apron, Moderna, Kellogg, Papa Johns, Penn National Gaming, Seaworld, ViacomCBS and Wayfair will be among the major players reporting wins before the opening bell.
After the bell, investors will also see profits from a number of names including Beyond Meat, Dropbox, Expedia, Live Nation, News Corp, Peloton, Planet Fitness, Roku, ShakeShack, Square, TripAdvisor, and Yelp.
Economic data to watch on Thursday includes the latest data on initial and sustained jobless claims that have fallen to the pandemic’s lowest point.
AMC Networks, Cigna, Cinemark, DraftKings, EW Scripps and Ruth Hospitality Group, as well as Nikola, will aggregate earnings for the week.
Investors will also be picking up the latest April data jobs. Economists forecast US employers added 978,000 from 916,000 in March. The unemployment rate is expected to decrease from 6% to 5.8%.
Wholesale inventory, wholesale sales, and consumer credit are also available.
In addition, the National Labor Relations Board will hear the Retail, Wholesale and Department Store Union challenge for the Amazon union election in Alabama.
The employees of the Amazon warehouse in Bessemer voted in early April to decide whether the RWDSU would represent them. In the end, only 738 out of about 3,000 votes were in favor of representation, killing the most famous union surge in the history of the e-commerce giant.
The RWDSU replied with raise an objection with the NLRB, which claimed that Amazon interfered in the process and created “an atmosphere of confusion, coercion and / or fear of reprisals” ahead of the vote.