New inflation data will have investors on pins and needles in the coming week, after stocks ended Friday posting a fifth day of losses and producer prices rose 8.3% per year, the most ever recorded. Markets also came under pressure after Apple was hit with an injunction related to its legal battle with the creator of Fortnite, Epic Games.
The maker of iPhones and Macs will be in the news again this week, alongside Amazon, Oracle and Zoom.
FOX Business takes a look at the news that is likely to move Financial markets in the coming days.
The kickoff of the week will be the benefit of Oracle after the bell and the federal budget.
Vaccination warrants are also expected to go into effect for all indoor activities in New York City and for State Street Bank and Under Armor employees returning to the office. Meanwhile, Carnival Cruise Line will also require indoor masks and vaccinated guests to be tested for COVID-19 within two days of departures.
In politics, US Secretary of State Antony Blinken will testify at least twice before Congress about the Biden administration’s withdrawal of US forces from Afghanistan. The first hearing will take place on Monday before the House Foreign Affairs Committee while the second will take place on Tuesday before the Senate Foreign Relations Committee.
A group of 15 Democratic members of the House of Representatives recently sent a letter to Blinken and Homeland Security Secretary Alejandro Mayorkas, asking for additional information on how Americans, permanent residents of the United States and others vulnerable people who remain in Afghanistan will be evacuated.
Additionally, National Small Business Week, Small Business Administration Small Business Summit, New York SALT Conference, and Zoomtopia all begin Monday.
Investors will monitor economic data on Tuesday, including the Core CPI, the consumer price index that will be closely watched after producer prices jumped 8.3% per year in August, the highest on record. .
In addition, the NFIB Small Business Optimism Index will be released.
Michael Jordan-backed sports betting data provider Sportradar will also launch a series of initial public offerings this week. According to Sports radar ”s IPO prospectus, the company sells 19 million shares to $ 25 to $ 28 per share, and will trade under the ticker symbol SRAD on the Nasdaq. Eldridge Industries and hedge fund Radcliff Management have agreed to buy $ 159 million of Sportradar shares, according to the filing notes.
Apple’s highly anticipated “California Streaming” event will also be streamed live from Apple Park Tuesday. The event, which kicks off at 10 a.m. PT, is expected to reveal the new iPhone 13 and Apple Watch Series 7.
Wednesday will be a busy day for economic data with import and export prices, industrial production, weekly mortgage applications, the Energy Information Administration’s weekly crude stocks and the Empire State’s manufacturing index. .
In addition, Dutch Bros Coffee and On Holding, backed by Roger Federer, are both expected to start trading on the New York Stock Exchange. Dutch Bros., which will trade under the stock symbol BROS, will sell 21,052,632 shares at $ 18 to $ 20 per share, while On Holding, which will trade under the ticker ONON, will sell 31 million shares at $ 18 to $ 20 each.
Meanwhile, Amazon CEO Andy Jassy will go through his first hiring campaign to head the e-commerce giant with the company’s third annual career day. Amazon is seeking to fill more than 40,000 available business and technology positions and tens of thousands of hourly positions in its operating network.
Ardine Williams, Vice President of Workforce Development at Amazon told FOX Business hiring campaign focuses on the company’s “fast growing businesses” including Amazon Web Services, Amazon Advertising, Amazon Alexa and Project Kuiper, an initiative to provide broadband internet access through the launch of satellites in low earth orbit.
The virtual event will feature 20,000 free one-on-one career coaching sessions from Amazon’s team of 1,200 recruiters, coding workshops led by Amazon software development engineers, and a breakout session “How to Interview at Amazon “led by two senior recruiters with a combined 25 years of interviewing experience with the company.
Other notable events include the issuance of the second payment of the child tax credit, the Federal Trade Commission open committee meeting, where staff members are to present the findings of the agency’s investigation into the Big Tech’s undeclared acquisitions, and Disney’s deadline to close nearly 60 of its large-scale stores in the United States as the entertainment giant focuses on e-commerce.
ForgeRock, which will trade on the New York Stock Exchange under the symbol FORG, will close the week for IPOs. The valuation of the digital identity software company could reach $ 1.9 billion, as the company offers 11 million shares at $ 21 to 24 per share, according to its IPO prospectus.
When it comes to economic data, investors will take into account retail sales, business inventories, the Philadelphia Federal Reserve’s manufacturing survey, and weekly initial and continuing jobless claims.
Also on Thursday, the state of Virginia will release emergency SNAP benefit allocations for eligible families. Allowances will increase the amount of monthly benefits of existing SNAP households to the maximum allowed according to household size.
A Florida Department of Health rule fining businesses and government agencies that require proof of COVID vaccination will also come into effect. Violators will be notified of their violation and will have the opportunity to appeal fines, which can be up to $ 5,000 per violation. Once finalized, violators will have 30 days to pay.
The end of the week for economic data will be the preliminary reading of the University of Michigan Consumer Confidence Index.
The Food and Drug Administration will also meet external advisors to discuss Pfizer and BioNTech’s biologics license application for the administration of a third booster dose of its COVID-19 vaccine for persons 16 years of age and older.
The meeting comes just days before the Biden administration is hoping to start offering COVID-19 vaccine boosters and follow through on its hardline vaccine mandate for all employees announced last week.
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