Tech & Energy: Apple, OPEC, Nasdaq High Ahead
Investors have a lot on their plate this week. There are earnings reports, Fed speeches, and Apple's Worldwide Developers Conference to keep track of. It's going to be a busy time.
Oil prices increased over the weekend. Saudi Arabia proposed a production cut of 1 million barrels per day. This could result in more expensive gas for U.S. drivers in the summer.
The NASDAQ composite is doing well because of chip companies like Nvidia. They're at the highest point of the year. This is also thanks to the May jobs report which was better than predicted.
This blog talks about events that may affect financial markets in the future. FOX Business has analyzed them.
The Worldwide Developers Conference starts on Monday. Apple organizes it every year. The event will go on till Friday. The first day of the event is not virtual. The rest of the days are virtual.
CEO Tim Cook will give the opening keynote address. There will be a live audience. Apple plans to show their new VR headset. It will be the first one they've ever made.
The CEO of Apple is Tim Cook. His photo was taken by Justin Sullivan. Getty Images is the company that took the photo.
Target is facing backlash over its new Pride merchandise. Walmart, on the other hand, has kept its Pride merchandising unchanged. Some customers have taken issue with Target's merchandise designs. Meanwhile, Walmart has not received any notable negative feedback. Both companies offer Pride merchandise in honor of LGBTQ+ Pride Month.
On Monday, investors will check economic data. The data has the S&P Global services PMI and the ISM non-manufacturing PMI. The data also includes factory orders and the employment trends of the Conference Board. Investors will look closely at this data.
On Tuesday, Chico's FAS, Cracker Barrel, and J.M. Smucker will report earnings. It'll happen before the markets open.
Casey's General Stores, Dave & Buster's Entertainment, and Stitch Fix will all report after the bell.
Honda is showing off a new SUV called the Elevate. Kawasaki USA has 16 new vehicles to debut.
On Wednesday, before the markets open, there will be earnings reports. These will include companies like Campbell Soup and United Natural Foods. Other companies are Brown-Forman, J. Jill, and Vera Bradley.
Rent the Runway will announce their results tonight.
On Wednesday, investors will focus on economic data like mortgage applications, international trade, EIA weekly crude stocks, and consumer credit.
Janet Yellen, the Treasury Secretary, will speak to the House Financial Services Committee about her predictions for the default date.
Janet Yellen is the Treasury Secretary. This is according to Reuters. There's a photo of her with the article.
Investors will pay attention to congressional hearings. Hearings will be about the dollar's status as the global reserve currency. Hearings will also focus on intellectual property and artificial intelligence.
Nikola is a car start-up. They use alternative fuel. They will have a meeting soon. They are losing a lot of money. Nasdaq told them they might be removed.
Target's shares have hit a low level for the past three years. JPMorgan has downgraded the stock. This means the stock is seen as less valuable. Target is a big company that sells products in many stores. JPMorgan is a bank that helps people buy and sell stocks.
Harley-Davidson is launching two fresh 2023 CVO bikes, and Volvo is revealing the RX30 electric SUV with the lowest carbon footprint than any of its previous models.
On Thursday, there will be earnings from Designer Brands, Hooker Furniture and Signet Jewellers.
Vail Resorts will reveal its financial results after the markets close.
Thursday's economic data will have wholesale inventories and sales, and initial jobless claims, which is closely monitored.
In Berlin, people can see an exhibition called "Driven by Dreams." There is a car on display there. The car is a Porsche 356 Nr. 1 Roadster. The exhibition started on January 25th, 2023. The car looks cool.
New sports car from Porsche coming on the 75th anniversary of the first Porsche 356 certified for the road. Lexus also revealing a luxury SUV called TX on Thursday.
To download the Fox Business app, click the link above. The app is a convenient way to keep up with business news and financial information. It is available for both Apple and Android devices. Once downloaded, users can access breaking news, watch live TV and stream on-demand video clips. The app also provides market data and allows users to track their own stocks and portfolios. Stay informed and download the app today!
This week ends quietly with no earnings to report. However, SpaceX Falcon 9 of Elon Musk will launch from Florida's Cape Canaveral.
The SpaceX Falcon 9 will launch from Cape Canaveral, Florida on June 9, 2023. Elon Musk is behind this.
