Two FAANG names, Amazon (AMZN) and Alphabet (GOOGL), will report earnings
The first week of February is busy in regard to both economic data and earnings reports. Concerning the former, the week begins strong with manufacturing data and housing vacancies. Heading into midweek, there's plenty of unemployment data to unpack, alongside the latest batch of the regularly anticipated initial and continuing jobless claims. Closing out the week, a plethora of data will be reported, including nonfarm payrolls and average hourly earnings.
Moving onto earnings reports, there's a slew of major companies slated to release earnings this week. The list includes Alibaba (BABA), BP (BP), Capri Holdings (CPRI), Exxon Mobil (XOM), and Spotify (SPOT), alongside FAANG names Alphabet (GOOGL) and Amazon (AMZN).
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
Monday, Feb. 1, kicks the new week off with a bang, as the final Markit manufacturing Purchasing Manager's Index (PMI) is due out alongside the ISM manufacturing index and motor vehicle sales.
Things slow down a bit on Tuesday, Feb. 2, with housing vacancies the only thing on the docket.
On Wednesday, Feb. 3, the last ADP employment report is slated for release. In addition, the final Markit services PMI and ISM services index will be reported.
Another batch of initial and continuing jobless claims data is set for Thursday, Feb. 4. Meanwhile, unit labor costs, factory orders, and productivity data will be released, as well.
Closing out the week on a high note, Friday, Feb. 5 is jam packed, featuring nonfarm payrolls, unemployment rate, average hourly earnings, trade deficit, and consumer credit data all before the closing bell.