U.S. stocks are poised for a muted open on Monday, ahead of a week of fresh jobs data, Super Tuesday primary elections, and President Joe Biden’s State of the Union address.
At 6:30 p.m. Eastern Time on Sunday, Dow Jones Industrial Average futures were down 29 points, or less than 0.1%, the S&P 500 futures were down less than 0.1%, and Nasdaq Composite futures ticked up 0.1%.
This week’s notable earnings include GitLab and Stitch Fix on Monday; CrowdStrike Holdings, Nio, Nordstrom, Ross Stores, and Target report on Tuesday.
Abercrombie & Fitch, Brown-Forman, Campbell Soup, Foot Locker, Park-Ohio Holdings, Thor Industries, and Victoria’s Secret report earnings on Wednesday.
Arhaus, BJ’s Wholesale Club, Broadcom, Burlington Stores, Costco Wholesale, DocuSign, Gap, Kroger, Marvell Technology, and MongoDB report on Thursday.
This week’s notable economic events include Tuesday’s report from the Institute for Supply Management highlighting its Services Purchasing Managers’ Index for February.
On Wednesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey for January, and the Federal Reserve will release its second Beige Book of 2024, with anecdotal information on current economic conditions from the 12 regional Federal Reserve banks. ADP will release its National Employment report on private-sector employment for February.
Also Wednesday, Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee as part of the Semiannual Monetary Policy Report to Congress. He will report to the Senate Committee on Banking, Housing and Urban Affairs Committee on Thursday.
On Thursday, the Federal Reserve will release the Financial Accounts of the U.S., including household net worth data, for the fourth quarter, and the Labor Department will release initial unemployment benefits claims for the week ended March 2. Also Thursday, the European Central Bank will announce a monetary-policy decision.
Biden will deliver the State of the Union address on Thursday at 9 p.m. Eastern before a joint session of Congress.
On Friday, the BLS will report the February jobs report, including employment figures and the unemployment rate.
Write to Janet H. Cho at [email protected]
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