Oil executive testimony, Fed minutes, Levi Strauss earnings top week ahead

Though the upcoming week will be light on earnings, investors will be monitoring key economic data including the minutes for the Fed’s latest Open Market Committee meeting and consumer credit. Oil executives will also be in the hot seat on Capitol Hill this week as lawmakers look to find solutions to combat soaring gas prices.  

On Friday, the Dow Jones Industrial Average rose over 139 points, or 0.4%, while the S&P 500 and Nasdaq Composite gained 0.34% and 0.3%, respectively.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 34818.27 +139.92 +0.40%
SP500 S&P 500 4545.86 +15.45 +0.34%
I:COMP NASDAQ COMPOSITE INDEX 14261.499778 +40.98 +0.29%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. 

Monday 4/4

Economic data leading off the week will include employment trends, durable goods and factory orders. 

Ticker Security Last Change Change %
GOOGL ALPHABET INC. 2,803.01 +21.66 +0.78%
AAPL APPLE INC. 174.31 -0.30 -0.17%
FDX FEDEX CORP. 221.08 -10.34 -4.47%

Also on Monday, Google employees will begin returning to the office at least part-time, Apple will increase time off benefits for full- and part-time retail workers, FedEx will increase its fuel surcharge rates and Russia also has a payment due to foreign holders of a $2 billion bond. 

Tuesday 4/5

Acuity Brands will kick off the week for earnings before the market opens on Tuesday. 

Ticker Security Last Change Change %
AYI ACUITY BRANDS INC. 191.12 +1.82 +0.96%

Meanwhile, Tuesday’s economic data will include the foreign trade deficit, the S&P Global services PMI and the ISM non-manufacturing PMI. 

Federal Reserve Bank of New York President John Williams will also participate in a moderated discussion hosted by the New York Times entitled “Health and the Economy”, which will explore the intersection of health and economics, national efforts to promote a healthy workforce and lessons learned during the coronavirus pandemic.

On Capitol Hill, the Senate will hold hearings on insider trading legislation, corporate profits and rising prices, the effect of elevated petroleum prices on American commerce and consumers, and Food and Drug Administration user fee agreements. In international news, Berlin will host a donors conference for Ukrainian refugees stranded in Moldova, and Japan will end exports of luxury items to Russia, including cars and gold.  

Ticker Security Last Change Change %
MSFT MICROSOFT CORP. 309.42 +1.11 +0.36%
INTC INTEL CORP. 48.11 -1.45 -2.93%

In addition, Microsoft will hold a Windows commercial customer event on hybrid work, and Intel will launch what it calls the world’s fastest desktop computer processing unit (CPU).

Wednesday 4/6

Taking the spotlight for earnings on Wednesday will be Simply Good Foods before the market open and Levi Strauss after the bell. Economic data on the docket for Wednesday includes the FOMC minutes, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks. 

Ticker Security Last Change Change %
SMPL THE SIMPLY GOOD FOODS CO. 39.04 +1.09 +2.87%
LEVI LEVI STRAUSS & CO. 19.83 +0.07 +0.35%

Oil executives from BP America, Chevron, Devon Energy, ExxonMobil, Pioneer Natural Resources and Shell USA will testify before the House Energy and Commerce Committee in a hearing on soaring gas prices.

Ticker Security Last Change Change %
BP BP PLC 29.84 +0.44 +1.50%
CVX CHEVRON CORP. 164.22 +1.39 +0.85%
DVN DEVON ENERGY CORP. 60.35 +1.22 +2.06%
XOM EXXON MOBIL CORP. 83.12 +0.53 +0.64%
SHEL SHELL PLC 55.72 +0.79 +1.44%

The FDA’s Vaccines and Related Biological Products Advisory Committee will also hold a virtual meeting to discuss considerations for future COVID-19 vaccine booster doses and the process for selecting specific strains of the SARS-CoV-2 virus for COVID-19 vaccines to address current and emerging variants. Along with the independent experts of the advisory committee, representatives from the U.S. Centers for Disease Control and Prevention and the National Institutes of Health will participate in the meeting.

Ticker Security Last Change Change %
PFE PFIZER INC. 51.57 -0.20 -0.39%
BNTX BIONTECH SE 178.78 +8.22 +4.82%
MRNA MODERNA INC. 176.59 +4.33 +2.51%

The Ministers of Foreign Affairs of Australia, Finland, Georgia, Japan, the Republic of Korea, New Zealand, Sweden and Ukraine, as well as the High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, will also attend a North Atlantic Council meeting at NATO headquarters on Wednesday and Thursday. The meeting will be chaired by NATO Secretary…

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