It’s a full week of annual shareholder meetings, investor days, and earnings reports.
Broadcom hosts its annual meeting on Monday, followed by investor events from
Analog Devices, and
Quanta Services on Tuesday.
Conagra Brands and
Constellation Brands report quarterly results on Thursday, when
Accenture will host an investor day. Finally,
Discovery will hold their annual shareholder meetings on Friday.
Federal Reserve watchers will be paying attention on Wednesday, when the Federal Open Market Committee releases minutes from its mid-March meeting. The committee raised its benchmark interest rate target at that meeting.
Economic data out this week include the Census Bureau’s new factory orders for February on Monday, the Institute for Supply Management’s Services Purchasing Managers’ Index for March on Tuesday, and the Federal Reserve’s consumer credit data on Thursday.
The Census Bureau reports on new factory orders for February. Consensus estimate is that new orders for manufactured durable and nondurable goods will increase 0.5% month over month to a seasonally adjusted $548 billion. In January, factory orders increased 1.4%; new orders for durable goods jumped 1.6%, to $278 billion; and nondurable goods gained 1.2%, to $267 billion.
Broadcom hosts its annual meeting of shareholders.
The Institute for Supply Management releases its Services Purchasing Managers’ Index for March. Economists forecast a 58 reading, 1.5 points more than the February figure.
FactSet Research Systems, and Quanta Services hold their annual investor days.
Merck holds an investor event in conjunction with the American College of Cardiology’s 71st Annual Scientific Session & Expo, which runs from April 2 through the April 4 in Washington, D.C. The company will discuss its portfolio and pipeline of cardiovascular drugs.
The Reserve Bank of Australia announces its monetary-policy decision. The central bank is expected to keep its cash target rate unchanged at 0.1%, the same level it has been since November 2020.
The Bureau of Economic Analysis reports light-vehicle sales. Auto makers are projected to have sold 13.9 million vehicles at a seasonally adjusted annual rate in March. This would be down 21% from March of 2021 but a significant improvement from the second half of last year as supply-chain issues ease.
Costco Wholesale reports sales data for March.
The Federal Open Market Committee releases minutes from its mid-March monetary-policy meeting. The FOMC raised the federal-funds rate a quarter point at the meeting to 0.25% to 0.5%, the first interest rate hike since December 2018.
Conagra Brands, Constellation Brands, and Lamb Weston Holdings report quarterly results.
Accenture hosts its 2022 investor and analyst day virtually.
The Department of Labor reports initial jobless claims for the week ending on April 2. Jobless claims averaged 208,500 in March and recently hit a five-decade low as job openings continue to outpace job seekers.
The Federal Reserve reports on consumer credit data. Consensus estimate is for total consumer debt to increase at a seasonally adjusted annual rate of 2.7% to a record $4.46 trillion.
Carnival and Discovery hold their annual shareholder meetings.
Write to Nicholas Jasinski at [email protected]
This story originally Appeared on Yahoo