Fed decision, Congress stock trade reform hearing, GameStop earnings top week ahead

Investors are gearing up for another busy week as market volatility continues due to rising inflation and the ongoing Russia-Ukraine conflict.

The Dow Jones Industrial Average fell 230 points or 0.7% on Friday, while the S&P 500 lost 1.3% and the Nasdaq Composite 2.9%. All three of the major averages retreated for the week pushing the Dow to its fifth straight week of declines.

Ticker Security Cargo Change Change%
I: DJI DOW JONES AVERAGES 32944.19 -229.88 -0.69%
SP500 S&P 500 4204.31 -55.21 -1.30%
I: COMP NASDAQ COMPOSITE INDEX 12843.808072 -286.15 -2.18%

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

Monday 3/14

Kicking off the weeks or earnings will be Vail Resorts after the bell.

Ticker Security Cargo Change Change%
MTN VAIL RESORTS 241.46 -2.52 -1.03%

Other notable events on Monday include the deadline for Commerce Secretary Gina Raimondo to answer Sen. Elizabeth Warren’s questions about Big Tech companies and the European Union’s Digital Markets Act and Digital Services Act. Monday also marks the deadline for public comments on the Federal Trade Commission’s inquiry into supply chain disruptions.

Tuesday 3/15

Earnings will ramp up on Tuesday with Dole before the market opens and Haivision Systems and Shift Technologies after the bell. As for economic data, investors will be watching final demand for February’s producer price index and the Empire State manufacturing index for March.

Ticker Security Cargo Change Change%
DOLE DOLE PLC 13.46 -0.14 -1.03%
HAIVF HAIVISION SYSTEMS INC 5 +0.00 + 0.00%
SFT SHIFT TECHNOLOGIES 1.69 -0.11 -6.11%

The Federal Reserve’s monthly open market committee will also take the spotlight on Tuesday. The Senate will also hold a series of hearings, including one to consider the “PREVENT Pandemics Act”, one on removing barriers to legal migration to strengthen communities and the economy and one on advancing public transportation under the Bipartisan Infrastructure Law.

Commerce Secretary Gina Raimondo speaks during the daily briefing at the White House in Washington, Tuesday, Nov. 9, 2021. (AP Photo / Susan Walsh) (AP Photo / Susan Walsh / AP Newsroom)

In addition, Secretary Raimondo will deliver a presentation at Brown University titled “Growth, Innovation and Equity: Ensuring American Global Competitiveness in the 21st Century,” in which she will share ideas on how the United States can continue to compete globally by creating an economy that works for all Americans. The presentation will be followed by a moderated discussion, focused on topics including economic growth equity in the US, COVID-19’s impact on American and global commerce and Raimondo’s experiences as a member of President Biden’s cabinet.

Ticker Security Cargo Change Change%
AMZN AMAZON.COM INC. 2,910.49 -25.86 -0.88%
GOOGL ALPHABET INC. 2,597.41 -51.18 -1.93%
WMT WALMART INC. 142.07 -0.56 -0.39%
VALLEY DELTA AIR LINES INC. 32.07 -0.48 -1.47%

Other notable events Tuesday include the deadline for European Union antitrust regulators to rule on Amazon’s $ 8.45 billion purchase of MGM Studios, Google’s Game Developer’s Summit, the launch of Walmart’s and British retailer Space NK’s BeautySpace collaboration and Delta Air Lines resuming three-course meal service for business class on international flights.

Wednesday 3/16

Earnings on the docket on Wednesday include Jabil Circuit, Lands’ End and Shoe Carnival before the market opens and Endeavor Group and Lennar after the bell.

Ticker Security Cargo Change Change%
JBL JABIL INC. 55.65 +0.14 + 0.25%
SCYTHE LANDS END 15.53 -1.31 -7.78%
SCVL SHOE CARNIVAL 29.20 -1.38 -4.51%
EDR ENDEAVOR GROUP 27.08 -0.45 -1.63%
LEN LENNAR CORP. 86.57 -1.52 -1.73%

Wednesday will be the busiest day for economic data with the Fed decision on interest rates, National Association of Homebuilders’ housing market index, retail sales, business inventories, import and export prices, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks.

On Capitol Hill, the House of Representatives will hold hearings on examining stock trading reforms for Congress and an empirical review of the Paycheck Portection Program.

Thursday 3/17

Wrapping up the week for earnings will be Accenture, Designer Brands, Dollar General, Signet Jewelers and Warby Parker before the market opens and FedEx and GameStop after the bell.

Ticker Security Cargo Change Change%
ACN ACCENTURE PLC 311.55 +1.99 + 0.64%
DBI DESIGNER BRANDS INC. 12.40 -0.31 -2.44%
DG DOLLAR GENERAL CORP. 205.62 -0.35 -0.17%
SIG SIGNET JEWELERS LTD. 65.73 -2.27 -3.34%
WRBY WARBY PARKER INC. 24.37 -0.38 -1.54%
FDX FEDEX CORP. 213.18 -6.10 -2.78%
GME GAMESTOP CORP. 92.69 -7.87 -7.83%

Investors will also take in economic data including building permits, housing starts, industrial production, the Philadelphia Fed’s manufacturing survey and the latest in initial and continuing jobless claims.

Friday 3/18

Finishing out the week for economic data will be existing home sales and the index of leading economic indicators. Richmond Fed President Thomas Barkin will also speak in person before the Maryland Bankers Association First Friday Economic Outlook Forum and Chicago Fed President Charles Evans will participate in an event entitled “Fed Listens: Helping Youth Thrive – a Discussion with Leaders”.

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