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What to Expect in the Markets This Week

By Prof. Ahlam / 27. Feb 2022

AssetsFX - Ultra Trading - Chief Idea

KEY TAKEAWAYS

1. Zoom, Salesforce, Target, Broadcom, Best Buy, AMC, Dollar Tree, Kohl’s, and more will report quarterly earnings this week.

2. Fed Chair Jerome Powell is expected to testify before Congress on Wednesday and Thursday.

3. The Federal Reserve will release its latest beige book on Wednesday.

4. The Labor Department will report nonfarm payrolls for February on Friday.

All three of the major U.S. equity market averages fell into correction territory this week on geopolitical uncertainty, as the Russia-Ukraine conflict escalated, before markets staged a dramatic turnaround late in the week.

In a recent survey of Investopedia’s daily newsletter readers, a greater share of respondents said recent market volatility led them to seek “safer” assets than we’ve seen since 2020, and nearly two out of three readers said they were buying the dips. The S&P 500 and the Nasdaq both finished higher, while the Dow was slightly lower for the week.

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Going into the first week of March, Fed Chair Jerome Powell is expected to testify before Congress on monetary policy ahead of the Federal Open Market Committee’s (FOMC) next two-day meeting that starts on March 15.

The Federal Reserve will release its latest beige book, and investors can expect a stream of jobs data, as well as final Purchasing Managers' Index (PMI) readings. Companies from a variety of sectors will report earnings, including Zoom, Salesforce, Target, Broadcom, Best Buy, AMC, Dollar Tree, and Kohl’s.

Events Calendar


Monday February 28:

  • Workday (WDAY), Lucid Group (LCID), HP Inc. (HPQ), Zoom (ZM), Jones Lang LaSalle (JLL), and GoodRx (GDRX) report earnings. 
  • U.S. Retail and Wholesale Inventories (January)
  • China NBS Manufacturing PMI (February)
  • China Caixin Manufacturing PMI (February)
  • Japan Jibun Bank Services and Manufacturing PMI (February)
  • India GDP Growth Rate (Q4)

Tuesday March 1:

  • Salesforce (CRM), Target (TGT), AutoZone (AZO), Ross Stores (ROST), Hormel Foods (HRL), Hewlett Packard Enterprise (HPE), Domino’s Pizza (DPZ), J.M. Smucker (SJM), SoFi (SOFI), Kohl’s (KSS), First Solar (FSLR), Wendy’s (WEN), and AMC (AMC) report earnings. 
  • U.S. IHS Markit Manufacturing PMI, final (February)
  • LMI Logistics Managers Index (February)
  • EA IHS Markit Manufacturing PMI, final (February)

Wednesday March 2:

  • Snowflake (SNOW), Coupang (CPNG), Veeva (VEEV), Dollar Tree (DLTR), Okta (OKTA), Splunk (SPLK), and Victoria's Secret (VSCO) report earnings. 
  • ADP Employment Report (February)
  • Fed Chair Jerome Powell to testify before U.S. House Financial Services Committee
  • Fed Beige Book
  • China Caixin Services PMI (February)
  • India IHS Markit Manufacturing PMI (February)
  • EA CPI (February)

Thursday March 3:

  • Broadcom (AVGO), Costco (COST), Marvell Technology (MRVL), Kroger (KR), Best Buy (BBY), Grab Holdings (GRAB), Bilibili (BILI), BJ’s Wholesale Club (BJ), and Gap (GPS) report earnings
  • U.S. IHS Markit Service PMI, final (February)
  • U.S. Factory Orders (January)
  • U.S. Vehicle Sales (February)
  • Fed Chair Jerome Powell to testify before Senate Banking Committee
  • EA PPI (January)

Friday March 4:

  • U.S. Nonfarm Payrolls (February)
  • EA Retail Sales (January)

Fed Chair Jerome Powell to Give Policy Update

Fed Chair Jerome Powell is expected to give his semi-annual monetary policy update before the U.S. House Financial Services Committee on Wednesday, with an appearance before the Senate Banking Committee to follow on Thursday, that could offer more insights into the Fed’s position ahead of the next meeting of Fed policymakers in mid-March.