Tesla earnings, Tax Day, Fed's Beige Book top week ahead

Tesla earnings, Tax Day, Fed’s Beige Book top week ahead

After enjoying the holiday weekend, investors are in for another busy week with a slew of big name earnings and key housing data on the docket.

Ticker Security Last Exchange Change %
I: DJI DOW JONES AVERAGES 34451.23 -113.36 -0.33%
SP500 S&P500 4392.59 -54.00 -1.21%
I:COMP NASDAQ COMPOSITE INDEX 13351.078927 -292.51 -2.14%

On Monday, investors will also have their first chance to react to news over the weekend that Twitter has adopted a limited duration shareholder rights plan, commonly referred to as a ‘poison pill’ as it looks to prevent a takeover by Tesla CEO Elon Musk, who has offered to take the social media giant private for $54.20 per share.

Ticker Security Last Exchange Change %
TWTR TWITTER INC. 45.08 -0.77 -1.68%

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

Monday 4/18

Kicking off the week for earnings will be Bank of America, Bank of New York Mellon, Charles Schwab and Synchrony Financial before the market open and JB Hunt Transportation Services after the bell.

Ticker Security Last Exchange Change %
BAC BANK OF AMERICA CORP. 37.53 -1.32 -3.40%
BK THE BANK OF NEW YORK MELLON CORP. 47.32 -1.02 -2.11%
SCHW THE CHARLES SCHWAB CORP. 82.76 -1.11 -1.32%
SYF FINANCIAL SYNCHRONY 37.70 +0.23 +0.61%
JBHT JB HUNT TRANSPORT SERVICES INC. 172.01 +0.03 +0.02%

Meanwhile, the NAHB housing market index will be in focus for economic data on Monday. St. Louis Fed president James Bullard will also speak on the US economy and monetary policy before the Council on Foreign Relations’ virtual C. Peter McColough Series on International Economics.

Ticker Security Last Exchange Change %
COST COSTCO WHOLESALE CORP. 590.39 -0.70 -0.12%
SAY THE WALT DISNEY CO. 130.47 -1.88 -1.42%
TGT TARGET CORP. 237.26 +3.46 +1.48%

Monday marks the federal deadline for most Americans to file their taxes and the final day to make an IRA contribution.

In addition, Costco will end special operating hours for seniors, healthcare workers and first responders, American Airlines will resume on-board liquor sales and Disney will bring back character meet and greets at its theme parks. Target will start its annual car seat trade-in program, which runs through April 30, and the International Monetary Fund and World Bank will begin their 2022 spring meetings, which run through April 24.

Tuesday 4/19

The earnings parade will continue on Tuesday with Hasbro, Johnson & Johnson and Lockheed Martin before the market open and IBM, Interactive Brokers Group and Netflix after the bell.

Ticker Security Last Exchange Change %
HAS HASBRO INC. 85.22 +1.42 +1.69%
JNJ JOHNSON & JOHNSON 179.90 -0.76 -0.42%
LMT LOCKHEED MARTIN CORP. 467.66 -1.53 -0.33%
IBM INTERNATIONAL BUSINESS MACHINES CORP. 126.47 +0.30 +0.24%
IBKR INTERACTIVE BROKERS GROUP INC. 65.29 -0.38 -0.58%
NFLX NETFLIX INC. 341.13 -9.30 -2.65%

As for economic data, investors will be watching building permits and housing starts. Chicago Fed president Charles Evans will also speak before the Economic Club of New York on current economic events and monetary policy.

Wednesday 4/20

Leading Wednesday’s earnings will be Abbott Labs, Anthem, M&T Bank, Nasdaq Inc. and Procter & Gamble before the market open and Alcoa, Equifax, Sleep Number, Tenet Healthcare, Tesla and United Airlines.

Ticker Security Last Exchange Change %
ABT ABBOTT LABORATORIES 117.69 -1.79 -1.50%
ANTM ANTHEM INC. 516.72 +4.26 +0.83%
MTB M&T BANK CORP. 159.53 -0.28 -0.18%
NDAQ NASDAQ INC. 178.55 -2.84 -1.57%
PG PROCTER & GAMBLE CO. 158.57 -0.89 -0.56%
TSLA TESLA INC. 985.00 -37.37 -3.66%
LAU UNITED AIRLINES HOLDINGS INC. 45.13 -0.01 -0.02%

Economic data on the docket for Wednesday will be the Federal Reserve’s Beige Book, existing home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.

Chicago Fed president Charles Evans will speak in person at the Peterson Institute for International Economics Macro Week 2022 on current economic events and monetary and San Francisco Fed President will speak before the Center for Business and Economic Research “CBER Mid-Year Outlook”.

Ticker Security Last Exchange Change %
FB META PLATFORMS INC. 210.18 -4.81 -2.24%
AMD ADVANCED MICRO DEVICES INC. 93.06 -4.68 -4.79%

Also on Wednesday, Meta Platforms is expected to make an announcement about its Oculus Quest 2 Pro headset during the Quest Gaming showcase. AMD will also release its fastest-ever gaming chip.

In addition, Bob Marley’s son Rohan will launch a CBD brand, South Carolina Republican Congresswoman Nancy Mace will speak at the Benzinga Cannabis Capital Conference and the House Financial Services Committee will hold a hearing on improving fire safety in federally assisted housing.

Thursday 4/21

Thursday will mark the busiest day for earnings with Alaska Air Group, American Airlines, AT&T, AutoNation, Blackstone, Danaher, Philip Morris, Quest Diagnostics and Union Pacific among the companies reporting before the market open.

Ticker Security Last Exchange Change %
ALK ALASKA AIR GROUP INC. 57.11 +0.87 +1.55%
AAL AMERICAN AIRLINES GROUP INC. 19.00 +0.05 +0.26%
T AT&T INC. 19.54 +0.12 +0.62%
YEAR AUTONATION INC. 101.46 +1.00 +1.00%
BX BLACKSTONE 112.98 -3.46 -2.97%
DHR DANAHER CORP. 277.01 -6.73 -2.37%
PM PHILIP MORRIS INTERNATIONAL INC. 101.77 +0.57 +0.56%
DGX QUEST DIAGNOSTICS INC. 135.92 -1.13 -0.82%
UNP UNION PACIFIC CORP. 246.21 +1.58 +0.65%

Meanwhile, Snap and PPG Industries will be among the companies taking the earnings spotlight after the bell.

Ticker Security Last Exchange Change %
SNAP SNAP INC. 33.19 -1.49 -4.30%
GPP PPG INDUSTRIES INC. 128.14 -2.46 -1.88%

Economic data on Thursday will include the Conference Board’s index of leading economic indicators and the latest in initial and continuing jobless claims. Other notable events include the launches of Fidelity’s new crypto and metaverse ETFs and SpaceX’s Crew-4 mission.

Friday 4/22

Wrapping up the week will be earnings from American Express, Kimberly-Clark, Schlumberger and Verizon before the market open. Investors will also take in the S&P Global flash Markit manufacturing and services PMIs.

Ticker Security Last Exchange Change %
AXP AMERICAN EXPRESS CO. 181.16 +1.57 +0.87%
KMB KIMBERLY-CLARK CORP. 126.42 +0.03 +0.02%
SLB SCHLUMBERGER NV 43.25 +0.68 +1.60%
VZ VERIZON COMMUNICATIONS INC. 53.83 -0.31 -0.57%

In addition, Walmart will permanently close stores in Louisville, Kentucky and Forest Park, Ohio and Lululemon will expand its trade-in and resale program to all of its stores in the United States.

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