What to Expect in the Week Ahead ( ORCL, JD and SE Earnings; Jobs Report, Powell Testifies)

Moomoo Breakfast US wrote a column · Mar 5, 2023 19:23

What to Expect in the Week Ahead ( ORCL, JD and SE Earnings; Jobs Report, Powell Testifies)

The latest data on the U.S. job market and several major earning reports will be this week's highlights.

On Wednesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey, or JOLTS. The consensus estimate is for 10.7 million job openings on the last business day of January, which would be a slight decline from December.

On Friday, the BLS releases February jobs data. Economists expect a gain of 215,000 nonfarm payrolls and for the unemployment rate to hold steady at 3.4%. Job growth surprised to the upside in January, with the U.S. economy adding 517,000 payrolls.

Companies reporting this week will include $Ciena(CIEN.US)$ on Monday, $CrowdStrike(CRWD.US)$ and $Dick's Sporting Goods(DKS.US)$ on Tuesday, and $Brown-Forman-B(BF.B.US)$ and $Campbell Soup(CPB.US)$ on Wednesday. $JD.com(JD.US)$, $Oracle(ORCL.US)$, and $Ulta Beauty(ULTA.US)$ will release results on Thursday.

Finally, the Bank of Japan will announce a monetary-policy decision on Friday. The central bank is expected to keep its short-term interest rate unchanged at negative 0.1%.

Monday 3/6

$Ciena(CIEN.US)$, $Nutanix(NTNX.US)$, and $Trip.com(TCOM.US)$ report quarterly results.

Tuesday 3/7

$Caseys General Stores(CASY.US)$, $CrowdStrike(CRWD.US)$, and $Dick's Sporting Goods(DKS.US)$ announce earnings.

The Federal Reserve reports consumer credit data for January. In 2022, total consumer debt increased 7.8%, the largest jump since 2001, to a record $4.78 trillion. Nonrevolving credit—mainly mortgages as well as auto and student loans—rose 5.6%, while revolving credit—mostly credit-card debt—spiked 14.8%.

Wednesday 3/8

ADP releases its National Employment report for February. Economists forecast an increase of 180,000 private-sector jobs, after a rise of 106,000 in January. The leisure and hospitality industry led the way in January.

$Brown-Forman-B(BF.B.US)$, $Campbell Soup(CPB.US)$, and $MongoDB(MDB.US)$ release quarterly results.

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10.7 million job openings on the last business day of January, slightly less than in December. Job openings remained historically elevated, and there are currently nearly two openings for every unemployed person.

Thursday 3/9

$JD.com(JD.US)$, $Oracle(ORCL.US)$, and $Ulta Beauty(ULTA.US)$ hold conference calls to discuss earnings.

Friday 3/10

$Apple(AAPL.US)$ holds its annual shareholders meeting in a virtual format.

The Bank of Japan announces its monetary-policy decision. The central bank is expected to keep its short-term interest rate unchanged at negative 0.1%. Haruhiko Kuroda, the governor of the BOJ and architect of its negative interest-rate policy, will retire in April. Incoming Gov. Kazuo Ueda is expected to maintain the BOJ's ultraloose monetary policy.

The BLS releases the jobs report for February. The economy is expected to have added 215,000 nonfarm jobs, following a gain of 517,000 in January. The January data outpaced consensus estimate by more than 300,000. Economists forecast the unemployment rate to remain unchanged at 3.4%, the lowest in more than a half-century.

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