What to expect in the week ahead (DOCU,NIO,BILI,BLCO)

Moomoo Breakfast US wrote a column · Jun 5, 2022 20:01

What to expect in the week ahead (DOCU,NIO,BILI,BLCO)

Weekly market recap

The overnight action followed another disappointing week for investors as the major averages suffered modest losses. The blue-chip $Dow Jones Industrial Average(.DJI.US)$ fell 0.9% for its ninth negative week in 10, while the $S&P 500 Index(.SPX.US)$ and the $Nasdaq Composite Index(.IXIC.US)$ lost 1.2% and 1%, respectively, last week for their eighth losing week in nine.

The stock market has had a volatile year with the major averages pulling back double digits from their record highs. The S&P 500 is off by 14.7% from its all-time high reached in January. The equity benchmark briefly dipped into bear market territory last month. bank could raise interest rates too fast and too much, causing a recession. Recent statements from the rate-setting Fed members indicate that 50 basis point — or a half-percentage-point — rate increases are likely at the June and July meetings.

The week ahead in focus

U.S. stock markets are poised for a muted open on Monday ahead of the much-anticipated consumer price index reading for May on Friday.

Earnings this week include J.M. Smucker on Tuesday, Campbell Soup on Wednesday, and DocuSign, NIO, and Vail Resorts on Thursday.

Earnings this week include $JM Smucker(SJM.US)$ on Tuesday, $Campbell Soup(CPB.US)$ on Wednesday, and $DocuSign(DOCU.US)$, $NIO Inc(NIO.US)$ and $Vail Resorts(MTN.US)$ on Thursday.

On Wednesday, the Federal Reserve reports consumer credit data for April. The European Central Bank will announce a monetary-policy decision on Thursday. The Bureau of Labor Statistics' Consumer Price Index will be released on Friday, as will the University of Michigan's Consumer Sentiment index for June.

Monday 6/6

$Coupa Software(COUP.US)$ and $Gitlab(GTLB.US)$ report quarterly results.

Pfizer hosts an investor meeting to discuss expanding access and affordability to the company's drugs and vaccines.

Tuesday 6/7

$Guidewire Software(GWRE.US)$, $JM Smucker(SJM.US)$, and $Smartsheet(SMAR.US)$ announce earnings.

The Federal Reserve reports consumer credit data for April. Consensus estimate is for total consumer debt to increase by $35 billion to a record $4.57 trillion. In the first quarter, consumer credit rose at a seasonally adjusted annual rate of 9.7%. Revolving credit, which is mostly credit-card debt and makes up nearly a quarter of all consumer debt, jumped 21.4% in the first three months of the year. As inflation has spiked, consumers have kept retail spending at high levels by borrowing more.

Wednesday 6/8

$Brown-Forman-A(BF.A.US)$ and $Campbell Soup(CPB.US)$ release quarterly results.

Thursday 6/9

Facebook parent $Meta Platforms(FB.US)$ begins trading under its new ticker, META. This completes a rebranding effort, which began last year, as the social-media giant pivots to the metaverse that it plans to build out.

$DocuSign(DOCU.US)$ and $NIO Inc(NIO.US)$ hold conference calls to discuss earnings.

$Advanced Micro Devices(AMD.US)$ holds a financial analyst day. The company is expected to lay out its product road map at the meeting.

Friday 6/10

The University of Michigan releases its Consumer Sentiment index for June. Economists forecast a 58.8 reading, slightly higher than May's 58.4. The May figure was the lowest for the index since August 2011, as rising inflation, particularly record-high home prices, has soured consumers' moods.

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