Walgreens, Costco, Constellation Brands and more stocks to watch this week

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This week’s revenue reports are grouped together on Thursday:


Conagra brands
,


Constellation brands
,


Lamb Weston Holdings
,

and


Walgreens

Boots Alliance then reports.


Costco

Wholesale trade is also releasing sales data for December on Wednesday. The fourth quarter earnings season begins in earnest towards the end of the following week.

The highlight of the week’s economic data will be employment on Friday. The Labor Department released December employment figures that morning and is expected to post an increase of 374,000 non-farm jobs and an unemployment rate of 4.1%. These would compare to 210,000 new jobs and an unemployment rate of 4.2% in November.

Other data to be released this week is the Institute for Supply Management’s Manufacturing Purchasing Managers Index for December on Tuesday, followed by the services equivalent on Thursday. Both are expected to remain solidly in expansion territory.

Fed watchers will be paying close attention to the minutes of the mid-December Federal Open Market Committee meeting, which will be released on Wednesday. Officials stepped up the pace of asset purchases by the central bank during the rally.

Monday 1/3

Stock markets around the world, including Canada, Japan and the UK, are closed on New Year’s Day.

The census office reports construction spending data for November. The consensus estimates the total will increase 0.6%, month over month, to a seasonally adjusted annual rate of $ 1.61 trillion. That would be a record, surpassing October’s $ 1.6 trillion.

Tuesday 1/4

The labor office The statistics publish the Survey of Job Openings and Workforce Turnover. Economists are forecasting 11.2 million job openings on the last working day of November, 167,000 more than in October. Jobs remain close to the record high of 11.1 million set earlier this summer.

The supply institute Management releases its manufacturing purchasing managers index for December. Expectations are for a reading of 60.5, roughly same with the November figure. The ISM’s PMI had 18 consecutive monthly readings over 50, indicating expansion in the US manufacturing sector.

Wednesday 1/5

Costco Wholesale announces its sales for December.

The Federal Free Market The committee publishes the minutes of its monetary policy meeting in mid-December.

The Office of the Economy The analysis shows sales of light vehicles for December. The consensus estimate is for a seasonally adjusted annual rate of 13.5 million vehicles. This would be 4.7% more than in November, but 17.2% less than a year ago. Supply constraints, particularly a global semiconductor shortage, hampered auto sales for much of the second half of 2021.

ADP publishes its national employment report for December. Economists forecast an increase of 360,000 jobs in the private sector, with 5.4 million jobs added this year, after a loss of 9.5 million jobs in 2020.

Thursday 1/6

Conagra Brands, Constellation Brands, Lamb Weston Holdings and Walgreens Boots Alliance report quarterly results.

ISM versions his PMI Services for December. Economists were forecasting a reading of 66.9, about two points below the November figure, which was a record for the index’s 23-year history.

The Ministry of Labor reports the first jobless claims for the week ending January 1. Claims for the four weeks of December averaged 199,250, the lowest number since October 1969.

Friday 1/7

The Ministry of Labor publishes december jobs report. The economy is expected to create 374,000 jobs, following a gain of 210,000 non-farm jobs in November. The unemployment rate is expected to decline to 4.1% from 4.2%. Payroll gains are well below estimates in three of the previous four employment reports, with an average shortfall of 343,300. The labor force participation rate is expected to climb to 61.9% from 61.9%. 8%.

Write to Nicholas Jasinski at [email protected]

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