Markets Brace for U.S. Jobs Data and Key Earnings Reports
by
Contributor since / Followers
Contributor since / Followers
3 months ago
Investors will have their hands full next week with the release of the U.S. jobs report for September on Friday. Economists expect 140K job additions for the month and for the unemployment rate to keep steady at 4.2%.
The consumer sector will remain the in the spotlight, with the earnings calendar headlined by Nike’s (NKE) earnings report on October 1. Carnival (CCL), Levi Strauss (LEVI), and Constellation Brands (STZ) also report.
Investors will also be watching China-focused stocks such as Dada Nexus (DADA), JD.com (JD), XPeng (XPEV), ZEEKR Intelligent (ZK), NIO (NIO), and Alibaba (BABA) after sizzling stimulus-fueled rallies over the last week.
Earnings
- Earnings spotlight: Monday, September 30 – Carnival (CCL) (CUK).
- Earnings spotlight: Tuesday, October 1 – Nike (NKE), Paychex (PAYX), McCormick & Company (MKC), Lamb Weston (LW), and Cal-Maine Foods (CALM).
- Earnings spotlight: Wednesday, October 2 – Levi Strauss (LEVI), RPM International (RPM) and Conagra Brands (CAG).
- Earnings spotlight: Thursday, October 3 – Constellation Brands (STZ).
Volatility watch
Options trading volume is elevated on Cassava Sciences (SAVA) and ProKidney (PROK). The most overbought stocks per their 14-day Relative Strength Index include Tectonic Therapeutic (TECX), Capricor Therapeutics (CAPR), and American Healthcare REIT (AHR). The most oversold stocks per their 14-day Relative Strength Index include International Battery Metals (OTCPK:IBATF), Autozi Internet Technology Global (AZI), and Target Hospitality (TH). Short interest is elevated on SoundHound AI (SOUN) and Plug Power (PLUG).
IPO watch
FrontView REIT (FVR) is expected to price its IPO and begin to trade next week. The Dallas-based company plans to raise $251 million and be valued at $508 million at the midpoint of its expected price range of $17 to $21. FrontView REIT is involved in acquiring, owning, and managing outparcel properties that are net leased to a diversified group of tenants. Aerospace engine aftermarket services company StandardAero (SARO) and EV parts maker ZJK Industrial Co. (ZJK) are also expected to start trading. StandardAero has filed to raise $100 million in an IPO, although the final figure could be higher. ZJK is raising $6.3M by offering 1.3 million shares at a price range of $4.00 to $6.00.