Oil executive testimony, Fed minutes, Levi Strauss earnings top week ahead

Stocks open higher to kick off second quarter

FOX Business’ Stuart Varney and Susan Li discuss the market coming off the worst quarter in two years.

Though the upcoming week will be light on earnings, investors will be monitoring key economic data including the minutes for the Fed's latest Open Market Committee meeting and consumer credit. Oil executives will also be in the hot seat on Capitol Hill this week as lawmakers look to find solutions to combat soaring gas prices.  

On Friday, the Dow Jones Industrial Average rose over 139 points, or 0.4%, while the S&P 500 and Nasdaq Composite gained 0.34% and 0.3%, respectively.

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES34818.27+139.92+0.40%
SP500S&P 5004545.86+15.45+0.34%
I:COMPNASDAQ COMPOSITE INDEX14261.499778+40.98+0.29%

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

Monday 4/4

Economic data leading off the week will include employment trends, durable goods and factory orders. 

TickerSecurityLastChangeChange %
GOOGLALPHABET INC.2,803.01+21.66+0.78%
AAPLAPPLE INC.174.31-0.30-0.17%
FDXFEDEX CORP.221.08-10.34-4.47%

Also on Monday, Google employees will begin returning to the office at least part-time, Apple will increase time off benefits for full- and part-time retail workers, FedEx will increase its fuel surcharge rates and Russia also has a payment due to foreign holders of a $2 billion bond. 

Tuesday 4/5

Acuity Brands will kick off the week for earnings before the market opens on Tuesday. 

TickerSecurityLastChangeChange %
AYIACUITY BRANDS INC.191.12+1.82+0.96%

Meanwhile, Tuesday’s economic data will include the foreign trade deficit, the S&P Global services PMI and the ISM non-manufacturing PMI. 

Federal Reserve Bank of New York President John Williams will also participate in a moderated discussion hosted by the New York Times entitled "Health and the Economy", which will explore the intersection of health and economics, national efforts to promote a healthy workforce and lessons learned during the coronavirus pandemic.

On Capitol Hill, the Senate will hold hearings on insider trading legislation, corporate profits and rising prices, the effect of elevated petroleum prices on American commerce and consumers, and Food and Drug Administration user fee agreements. In international news, Berlin will host a donors conference for Ukrainian refugees stranded in Moldova, and Japan will end exports of luxury items to Russia, including cars and gold.  

TickerSecurityLastChangeChange %
MSFTMICROSOFT CORP.309.42+1.11+0.36%
INTCINTEL CORP.48.11-1.45-2.93%

In addition, Microsoft will hold a Windows commercial customer event on hybrid work, and Intel will launch what it calls the world’s fastest desktop computer processing unit (CPU).

Wednesday 4/6

Taking the spotlight for earnings on Wednesday will be Simply Good Foods before the market open and Levi Strauss after the bell. Economic data on the docket for Wednesday includes the FOMC minutes, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks. 

TickerSecurityLastChangeChange %
SMPLTHE SIMPLY GOOD FOODS CO.39.04+1.09+2.87%
LEVILEVI STRAUSS & CO.19.83+0.07+0.35%

Oil executives from BP America, Chevron, Devon Energy, ExxonMobil, Pioneer Natural Resources and Shell USA will testify before the House Energy and Commerce Committee in a hearing on soaring gas prices.

TickerSecurityLastChangeChange %
BPBP PLC29.84+0.44+1.50%
CVXCHEVRON CORP.164.22+1.39+0.85%
DVNDEVON ENERGY CORP.60.35+1.22+2.06%
XOMEXXON MOBIL CORP.83.12+0.53+0.64%
PXDPIONEER NATURAL RESOURCES CO.253.15+3.12+1.25%
SHELSHELL PLC55.72+0.79+1.44%

The FDA's Vaccines and Related Biological Products Advisory Committee will also hold a virtual meeting to discuss considerations for future COVID-19 vaccine booster doses and the process for selecting specific strains of the SARS-CoV-2 virus for COVID-19 vaccines to address current and emerging variants. Along with the independent experts of the advisory committee, representatives from the U.S. Centers for Disease Control and Prevention and the National Institutes of Health will participate in the meeting.

TickerSecurityLastChangeChange %
PFEPFIZER INC.51.57-0.20-0.39%
BNTXBIONTECH SE178.78+8.22+4.82%
MRNAMODERNA INC.176.59+4.33+2.51%

The Ministers of Foreign Affairs of Australia, Finland, Georgia, Japan, the Republic of Korea, New Zealand, Sweden and Ukraine, as well as the High Representative of the European Union for Foreign Affairs and Security Policy and Vice-President of the European Commission, will also attend a North Atlantic Council meeting at NATO headquarters on Wednesday and Thursday. The meeting will be chaired by NATO Secretary General Jens Stoltenberg.

Thursday 4/7

Conagra Brands, Constellation Brands and WD-40 will wrap up the week for earnings. As for economic data, investors will take in initial and continuing jobless claims and consumer credit. 

TickerSecurityLastChangeChange %
CAGCONAGRA BRANDS INC.34.09+0.51+1.52%
STZCONSTELLATION BRANDS INC.233.71+3.39+1.47%
WDFCWD-40 CO.185.01+1.78+0.97%

The Federal Reserve will also make the rounds, with St. Louis Fed President James Bullard giving a presentation on the U.S. economy and monetary policy before an event hosted by the University of Missouri, and New York Fed President John Williams giving closing remarks before a hybrid "Expanding Opportunity: Investing in Employment Social Enterprise" event organized by the Federal Reserve Bank of New York and the Roberts Enterprise Development Fund.

Chicago and Atlanta Fed Presidents Charles Evans and Raphael Bostic will also participate in a virtual conversation called Economic Mobility Project: What is Inclusive Full Employment?" hosted by the Federal Reserve Bank of Chicago Economic Mobility Project. 

TickerSecurityLastChangeChange %
TSLATESLA INC.1,084.59+6.99+0.65%

Other notable events include a Committee on House Administration hearing on examining stock trading reforms for Congress and the grand opening of Tesla’s new factory in Travis County, Texas. 

Friday 4/8

Finishing out the week for economic data will be wholesale inventories and wholesale sales. 

Friday also marks the deadline for executives from Ripple to submit information to the court related to a Securities and Exchange Commission lawsuit alleging that the cryptocurrency firm engaged in an unregistered security offering that brought in $1.3 billion. 

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