Fourth-quarter earning season continues this week, with 99 S&P 500 companies reporting. NXP Semiconductors and Otis Worldwide kick things off on Monday, followed by several big names on Tuesday: Alphabet, Amazon.com, Alibaba Group Holding, Chipotle Mexican Grill, Electronic Arts, Exxon Mobil, Pfizer, and United Parcel Service all report.
On Wednesday, AbbVie, eBay, PayPal Holdings, Qualcomm, and Spotify Technology release results. Thursday’s highlights are Activision Blizzard, Bristol Myers Squibb, Ford Motor, Merck, Snap, and T-Mobile US. Finally, Linde, Regeneron Pharmaceuticals, and Sanofi close the week on Friday.
The economic-data highlight this week will be Friday’s January jobs report from the Bureau of Labor Statistics. Economists’ consensus estimate is for 100,000 new nonfarm payrolls after a decline of 140,000 in December. The unemployment rate is expected to hold steady at 6.7%.
Other data out this week includes the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for January on Monday and its Services equivalent on Wednesday. The Census Bureau also reports construction spending data for December on Monday and the Bureau of Labor Statistics reports nonfarm business productivity and unit labor costs for the fourth quarter on Thursday.
Monday 2/1
NXP Semiconductors, Otis Worldwide, Thermo Fisher Scientific, and Vertex Pharmaceuticals report quarterly results.
The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for January. Economists forecast a 60 reading, roughly even with December. A PMI above 50 indicates expansion in the manufacturing sector.
The Census Bureau reports construction spending data for December. Consensus estimate is for a 0.7% month-over-month rise in construction spending to a seasonally adjusted annual rate of $1.47 trillion.
Tuesday 2/2
Alphabet, Amazon.com, Alibaba Group Holding, Amgen, BP, Chipotle Mexican Grill, ConocoPhillips, Chubb, Electronic Arts, Exxon Mobil, HCA Healthcare, Pfizer, Sysco, and United Parcel Service release earnings.
Wednesday 2/3
ADP releases its National Employment Report for January. Consensus estimate is for a gain of 100,000 private-sector jobs, after a 123,000 drop in December.
AbbVie, Biogen, Boston Scientific, eBay, GlaxoSmithKline, Humana, MetLife, Novo Nordisk, PayPal Holdings, Qualcomm, Sony, and Spotify Technology announce quarterly results.
The ISM releases its Services Purchasing Managers’ Index for January. Expectations are for a 56.9 reading, a tick below the December data.
Thursday 2/4
Activision Blizzard, Bristol Myers Squibb, Cigna, Clorox, Ford Motor, Gilead Sciences, Intercontinental Exchange, Merck, Old Dominion Freight Line, Philip Morris International, Royal Dutch Shell, Snap, and Unilever report quarterly results.
The Bureau of Labor Statistics reports nonfarm business productivity and unit labor costs for the fourth quarter. Economists forecast that productivity declined at a seasonally adjusted annual rate of 4.9%, after jumping 4.6% in the third quarter. Unit labor costs are expected to rise 3.4%, after falling 6.6%.
Friday 2/5
Cardinal Health, Cboe Global Markets, Estée Lauder, Illinois Tool Works, Linde, Prudential Financial, Regeneron Pharmaceuticals, Sanofi, Trane Technologies, and Zimmer Biomet Holdings host conference calls to discuss earnings.
The BLS releases the jobs report for January. Consensus estimate is for nonfarm payrolls to rise by 100,000, reversing December’s 140,000 decline. The unemployment rate is expected to remain unchanged at 6.7%.
The Federal Reserve reports consumer credit data for December. Total outstanding consumer debt is expected to rise by $12 billion to a total of $4.18 trillion. That would bring the outstanding consumer credit to the same level at which it started 2020. The last time debt fell in a year was 2009.
Write to Nicholas Jasinski at [email protected]
