Dow Jones Industrial Average retreated from the 30,000-mark mid-week as the impasse over the stimulus bill continued and jobless claims climbed to a three-month high.
The S&P 500 index shed more than 40 points since Wednesday amid concerns over the resurgence in COVID cases and new restrictions. Currently, it is expected that a consensus on the federal and state stimuli would be reached before year-end.
Continuing the regulatory scrutiny that started a few years ago, the Federal Trade Commission this week filed a lawsuit against Facebook and proposed the breakup of Mark Zuckerberg’s social media empire. If the agency has its way, then Facebook would have to spin off Instagram and WhatsApp.
After a modest start, the earnings scene gathered steam towards the end of the week, with tech firms Adobe, Oracle and Broadcom publishing their latest quarterly numbers on Thursday. A day earlier, Campbell Soup Company reported a double-digit increase in its first quarter earnings.
With the holidays around the corner, there are only a few companies reporting next week. Professional services firm Accenture and grocery store chain General Mills are scheduled to release earnings early Thursday. On the same day, FedEx will report second-quarter results after the market’s close.
Key Earnings to Watch
Monday: Qudian Inc., Vince Holding Corp, and HEXO Corp.
Tuesday: MTS Systems Corp., American Outdoor Brands, Good Times Restaurants, and Aspen Group
Wednesday: Nordson Corp., Blue Bird Corp., and Centogene N.V.
Thursday: Fedex Corp, Accenture PLC, General Mills, BlackBerry Limited, Jabil, Herman Miller, Applied DNA Sciences, and Rite Aid Corp
Friday: Nike Inc., Darden Restaurants, and Apogee Enterprises
Key Corporate Conferences to Watch
Key Investor Days/AGMs to Watch
Key US Economic Events
Looking Back
The following are notable companies which have reported their earnings last week. In case if you have missed to catch up on their performance, click the respective links to skim through the transcripts to glean more insights.
JinkoSolar
Stitch Fix
Barnes & Noble
Autozone
Campbell Soup Company
Costco Wholesale
Adobe Inc.
Lululemon Athletica
Broadcom Inc.
Dave & Buster’s Entertainment
Oracle Corp.
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