The Week Ahead on Wall Street

Economic Data Points

Last week, the latest jobless claims report reached 3.84 million. This pushed the total number of jobs lost over the past six weeks to a heartbreaking 30.3 million. US consumer spending also tumbled 7.5% in March. According to the Commerce Department, this was the steepest drop in the history of the report, which dates back to 1959. Heading into May, investors will be tasked with digesting more updated economic reports for April, the first full month to show the impact of the coronavirus. Here is what to watch in the week ahead:

This morning, factory orders for March are released. When this economic indicator increases, it generally signifies that the economy is expanding, and vice versa when it decreases. March numbers will likely show the initial impact of the coronavirus on factory output in the US.

Tomorrow, watch for figures related to the trade deficit. Also look out for the Markit Services PMI, or Purchasing Managers’ Indexes, a monthly economic indicator based on surveys of private sector companies. The ISM Non-Manufacturing Index will also be released tomorrow.

On Wednesday, the ADP employment report is due. This report is released two days ahead of the more detailed monthly Bureau of Labor Statistics’ report. It is compiled by Automatic Data Processing Inc. (ADP), which handles payroll for about 20% of US private employers. The company is in a unique position to inform investors about the country’s employment situation.

Thursday will be an important day to watch as another jobless claims report is published. Though these reports have continued to be discouraging, Paycheck Protection Program checks have been going out to small businesses across the country. This report will be an early indicator as to whether the program is successfully protecting jobs. Also be on the lookout for Q1 productivity and unit labor cost reports today.

To round out the week, Friday will be extremely important to watch especially as it relates to the job market. Nonfarm payrolls for April will be published. The report is expected to show a steep loss and add more color to Thursday’s initial claims report. Additional context will be provided by way of average hourly earnings and an update on the unemployment rate, which are also released.

Earnings Calendar

Both the US and global economies are halfway through one of the strangest earnings seasons in history. Some sectors have seen unprecedented downturns, while others are growing. The majority of companies are withdrawing future guidance, though the S&P 500 is actually only down roughly 15% from its historic pinnacle. Here are a few earnings reports to look out for this week:

Tyson Foods Inc. (TSN), one of the country’s largest meat producers, will report earnings today. The company has been coping with supply chain shifts and now faces another setback as nearly 900 of its workers in a plant in Indiana tested positive for COVID-19 last week.

Disney (DIS) gives an update on its earnings tomorrow. The company has faced park closures and movie release delays due to coronavirus, but its streaming service, Disney+ has seen explosive growth as families stuck at home look for entertainment. The company also recently began making plans to reopen its parks with new social distancing measures in place.

General Motors (GM) reports on Wednesday. The carmaker is putting plans in place to reopen its US factories while protecting workers from coronavirus with new sanitation measures, protective equipment, and social distancing regulations.

Ride-share giant, Uber Technologies (UBER), will deliver its earnings report on Thursday. The company has seen its business shrink by 70% in most major cities and its stock has fallen 50% over the past month. However, it has seen gains in its food delivery service, Uber Eats.

To finish off the week, Siemens AG (SMAWF), the German multinational conglomerate, will report earnings. The company’s stock has been up 16.7% over the past month, which may indicate that investors are hopeful about the company’s future.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

TLS 1.2 Encrypted
Equal Housing Lender