Potomac Wealth Advisors President and founder Mark Avallone argues the stock market will rally despite disappointing Fed news on ‘Varney & Co.’
Investors are gearing up for a busy week with the United Auto Workers (UAW) strike against Detroit’s Big Three ongoing and a host of earnings, as well as FOX Business’ Republican presidential primary dentate.
Stocks fell Friday with all three of the U.S. benchmark averages sliding for the week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33892.97 | -70.87 | -0.21% |
| SP500 | S&P 500 | 4318.23 | -1.83 | -0.04% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13212.424715 | +0.62 | +0.00% |
The tech-heavy Nasdaq Composite paced the declines falling over 3%.
US EMPLOYERS EXPECT TO SEE BIGGEST JUMP IN HEALTH CARE COSTS IN A DECADE NEXT YEAR
Monday, Sept. 25
UAW strike
The United Auto Workers strike against GM, Stellantis and Ford will enter its 10th day Sunday. As of Friday, UAW President Shawn Fain said progress was being made with Ford but not so for GM and Stellantis.
President Biden is expected to visit the picket line in Michigan Tuesday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| F | FORD MOTOR CO. | 12.43 | +0.23 | +1.89% |
| GM | GENERAL MOTORS CO. | 32.58 | -0.13 | -0.40% |
| STLA | STELLANTIS NV | 19.35 | +0.02 | +0.10% |
United Auto Workers rally at the Stellantis North America headquarters Sept. 20, 2023, in Auburn Hills, Mich. (Bill Pugliano/Getty Images / Getty Images)
Welcome to the Nasdaq
Blue Apron will leave the New York Stock Exchange and begin trading under the same ticker symbol “APRN” on the Nasdaq Global Market.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| APRN | BLUE APRON HOLDINGS | 6.10 | -0.04 | -0.65% |
Meanwhile, U.K. antitrust regulators are expected to make a preliminary decision on Microsoft buying Activision. On Friday, regulators disclosed they were satisfied with the moves the companies have made to ease anticompetitive concerns.
Copies of “Call of Duty: Ghosts” are displayed during a launch event for the highly anticipated video game at a GameStop store Nov. 4, 2013, in North Las Vegas. (Ethan Miller/Getty Images / Getty Images)
If the deal wins full approval, it will give Microsoft a suite of lucrative video game titles, including Activision’s “Call of Duty.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP. | 316.34 | -0.67 | -0.21% |
| ATVI | ACTIVISION BLIZZARD INC. | 93.92 | +1.57 | +1.70% |
Tuesday, Sept. 26
Home retail, home sales
Costco will report earnings Tuesday after the close of trading. Along with financials, the warehouse retailer will give fresh insight on inflation, especially with food.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COST | COSTCO WHOLESALE CORP. | 558.59 | +3.51 | +0.63% |
Taylor Morrison CEO Sheryl Palmer discusses headwinds in the housing market after a drop in August existing home sales on ‘The Claman Countdown.’
Meanwhile, data released Thursday by the National Association of Realtors showed U.S. existing home sales continued to slide in August as a combination of steep mortgage rates hovering above 7% and a worsening supply shortage squeezed would-be homebuyers.
INTEREST RATES ARE HIGH. HERE’S HOW YOU CAN TAKE ADVANTAGE OF THEM
Wednesday, Sept. 27
Republican debate
The second Republican primary debate will be held at the Reagan Presidential Library in Simi Valley, California. FOX Business will host the debate, which will air from 9-11 p.m. ET.
FOX BUSINESS NETWORK’S GOP DEBATE: SIGN UP HERE
Republican presidential candidates, from left, Asa Hutchinson, Chris Christie, former Vice President Mike Pence, Ron DeSantis, Vivek Ramaswamy, Nikki Haley, Sen. Tim Scott and Doug Burgum during the Republican primary presidential debate hosted by Fo (Al Drago/Bloomberg / Getty Images)
Also on Wednesday, Micron Technology and H.B. Fuller will report earnings, while economic data will include mortgage applications, durable goods and EIA weekly crude stocks.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MU | MICRON TECHNOLOGY INC. | 68.88 | +0.98 | +1.44% |
| FUL | H.B. FULLER CO. | 66.61 | +0.08 | +0.12% |
Thursday, Sept. 28
Nike earnings, Senate hearing on Biden impeachment
Nike, CarMax and BlackBerry will release their latest earnings. Last month, Nike stock fell for 10 consecutive days to lose over 11%. Shares for the athletic retailer have fallen over 22% this year.
Meanwhile, House Republicans, led by House Speaker Kevin McCarthy, will hold the first hearing on President Joe Biden’s impeachment inquiry.
U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks to members of the media at the U.S. Capitol May 24, 2023, in Washington, D.C. (Kevin Dietsch/Getty Images / Getty Images)
BIDEN ADMINISTRATION ANNOUNCES RULE TO REMOVE MEDICAL BILLS FROM CREDIT REPORTS
Friday, Sept. 29
Will Carnival earnings sink or swim?
Economic reporting on Friday will include the latest data on personal income and consumption.
On Wall Street, Carnival Corp will report earnings.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CCL | CARNIVAL CORP. | 14.05 | -0.40 | -2.77% |
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FOX Business reporter Megan Henney contributed to this report.
