It’s a quiet week on the earnings front. GameStop, Lamb Weston Holdings, and Walgreens Boots Alliance report on Tuesday. On Wednesday, Acuity Brands and Signet Jewelers release quarterly results, followed by Constellation Brands on Thursday.
The economic calendar is more heavily stacked. Monday brings February retail sales data and the Institute for Supply Management’s manufacturing index for March. Tuesday’s durable goods report for February will give a look at which direction business investment is trending. The ISM’s non-manufacturing index for March is out on Wednesday.
Finally, economists expect Friday’s March employment report from the Bureau of Labor Statistics to show 175,000 new non-farm payrolls after a lethargic gain of 20,000 in February. They expect average hourly earnings to have risen at a 3.4% rate in March, in line with February.
The Census Bureau releases retail sales data for February. Economists forecast a 0.3% rise after a 0.2% bump in January. Excluding autos, retail sales are seen gaining 0.3% after jumping 0.9% in January.
The Institute for Supply Management reports its Manufacturing Index for March. Consensus estimates are for a 54.4 reading, roughly even with February. A reading above 50 indicates the manufacturing sector is expanding. The index has posted 30 consecutive monthly readings above 50.
The Census Bureau releases construction spending data for February. Expectations are for a 0.1% drop, to a seasonally adjusted annual rate of $1.28 trillion, after rising 1.3% in January.
The Census Bureau reports business inventories data for January. Manufacturers’ and trade inventories were $1.99 trillion at the end of December. Inventories are expected to rise 0.4% in January.
Dow begins regular trading on the New York Stock Exchange under the ticker DOW, after its split from DowDuPont .
Synopsys hosts a webcast for investors. Chairman and Co-CEO Aart de Geus will discuss the firm’s growth strategy.
The Census Bureau releases its Durable Goods report for February. Economists forecast a 0.5% decline, down from January’s gain of 0.3%.
Acuity Brands and Signet Jewelers report quarterly results.
Hewlett-Packardand Schlumberger hold their annual stockholder meetings.
ADP releases its National Employment Report for March. Consensus estimates are for a gain of 170,000 in private-sector employment after an increase of 183,000 in February.
The Institute for Supply Management releases its Non-Manufacturing Index for March. Expectations are for a 58 reading, down from February’s 59.7. Economic activity in the nonmanufacturing sector has grown for 109 consecutive months through February.
Constellation Brands hosts a conference call to discuss earnings.
L3 Technologies and Harris Corp. hold special shareholder meetings to vote on proposals related to their merger. The combined companies, to be called L3 Harris Technologies, will be the sixth-largest defense company in the U.S.
ResMed hosts an investor meeting to discuss its recent acquisitions.
The Bureau of Labor Statistics releases its Employment Report for March. Consensus estimates are for a 175,000 increase in nonfarm payrolls after an uncharacteristically small gain of 20,000 in February. The unemployment rate is expected to remain stable at 3.8%. Average hourly earnings are seen rising at a 3.4% annual rate, even with February.
Monday 1 The U.K’s House of Commons, having seized the parliamentary schedule from Prime Minister Theresa May, votes on up to eight Brexit proposals as the new deadline of April 12 looms.
–Robert Teitelman and Dan Lam