Week Ahead: Fed Meeting, April Jobs Report, Earnings From Apple and Facebook

U.S. stocks are set for a higher open on Monday after lawmakers on Capitol Hill in Washington D.C. agreed to a budget deal over $1 trillion late on Sunday evening to fund the U.S. government through September, the end of the 2017 fiscal year.

Many Asian and European markets are closed on Monday for Labor day.

The week ahead will see more corporate earnings including AMD on Monday, Apple and MasterCard on Tuesday, and Facebook on Wednesday.

So far the S&P 500 has shown double digit earnings growth for the first time since 2011.

The Industrials and Financials sectors are the largest contributors to the rise in earnings growth since the end of the quarter, according to FactSet, boosted by strong earnings results from Bank of America, JP Morgan Chase, Morgan Stanley, Caterpillar, and General Electric.

This week investors will be paying close attention to a 2 day Federal Reserve meeting that begins on Tuesday with no rate hike expected.

The current probability of another rate hike at the Fed’s May meeting stands at just 4.8 percent based on the FedWatcher tool from CME Group.

Investors will also be watching the April Jobs report that is due on Friday, after just 98,000 non-farm payroll jobs were created in March, a sharp drop from the previous 2 months when the market absorbed gains of 219,000 in February and 216,000 in January.

The consensus estimate is for 185,000 non-farm payroll jobs in April.

On Wednesday private-payroll processor ADP will report private sector payroll growth for April.

Some of the other economic data this week includes Motor vehicles sales on Monday (April) along with Personal Income and Outlays, PMI Manufacturing Index, ISM Index, and Construction Spending (April).

On Friday several committee members from Federal Reserve will be giving speeches including Fed Chair Janet Yellen, Fed Reserve Vice Chair Stanley Fischer, Charles Evans, James Bullard, John Williams, and Eric Rosengren.

Written and Edited By:

Johnathan Schweitzer







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