FOMC this week, earnings for the week, and everything you need to know in three minutes or less
Everything you need to know this week in the markets in three minutes or less
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Hi there!
A quick note before I break down the markets. Our financial software prices (on unusualwhales.com) go up by $2/month on Sept 23rd! Any user who gets a subscription beforehand will be grandfathered in at their OLD price, with no additional costs. Come join if want to lock in before price increases!
Now, let’s see what is upcoming in the markets this upcoming week, and what happened this week quickly before the week begins!
Looking at the markets last week, SPY was up 2.86% on the week, with most tech rising back after a week start of September! This week is a big FOMC week, which you can see below. Here is what the markets looked like this week looked like in the heatmaps:
Now to an uneventful short earnings week.
Here are the upcoming earnings this week, including the expected moves, EPS mean estimates, and notable details. See more at unusualwhales.com/earnings. We also updated our earnings breakdowns to show you historical moves and predictions!
Report Date: September 16, 2024
High Tide (HITI) expects an EPS of -0.02, with a predicted stock price move of $0.32. It has an open interest of 9,347 and a stock volume of 686,542.
Report Date: September 17, 2024
Red Cat Holdings (RCAT) has not provided an EPS estimate but expects a stock price move of $0.43. The open interest is 16,827, and the stock volume is 977,988.
Report Date: September 18, 2024
B Riley Financial (RILY) does not provide an EPS estimate but expects a move of $1.00 in the stock price. It has an open interest of 382,758 and a stock volume of 1,953,449.
General Mills (GIS), reporting premarket, expects an EPS of 1.05, with a stock price move of $2.51 anticipated. The open interest is 87,582, and the stock volume is 3,010,319.
Mesa Air Group (MESA), with an unknown reporting time, does not provide an EPS estimate but expects a stock price move of $0.34. It has an open interest of 5,382 and a stock volume of 145,867.
Report Date: September 19, 2024
FedEx (FDX) anticipates an EPS of 4.87, with a significant stock price move of $18.67 expected. The open interest is 181,992, and the stock volume is 1,142,209.
Lennar (LEN) expects an EPS of 3.62, with a stock price move of $10.07 anticipated. It has an open interest of 132,974 and a stock volume of 1,793,559.
Cracker Barrel Old Country Store (CBRL), reporting premarket, anticipates an EPS of 1.17, with a stock price move of $3.61 expected. The open interest is 37,796, and the stock volume is 838,189.
Darden Restaurants (DRI), also reporting premarket, forecasts an EPS of 1.83, with an expected stock price move of $6.25. It has an open interest of 34,913 and a stock volume of 1,034,208.
Here is the economic calendar this week. There is a big FOMC happening this week, with a potential for 50 bps cut. We are having a Twitter Space for it here, where Substack subscribers in comments can get the full recording first once edited, as well as ask questions in the comments below. Register for the FOMC space with experts here: https://x.com/unusual_whales/status/1835423595381608633
More at unusualwhales.com/economic-calendar:
Monday, September 16:
Empire State Manufacturing Survey for September is reported at 5:30 AM with a forecast of -5.0, slightly worsening from -4.7.
Tuesday, September 17:
Retail sales excluding autos for August are expected to be 0.2%, down from 0.4%, reported at 5:30 AM.
U.S. retail sales for August are forecasted to decrease to -0.3% from a gain of 1.0%, also at 5:30 AM.
Capacity utilization for August is expected to slightly increase to 77.9% from 77.8%, reported at 6:15 AM.
Industrial production for August is forecasted to improve to 0.1% from -0.6%, also at 6:15 AM.
Home builder confidence index for September is anticipated to rise to 40 from 39, reported at 7:00 AM.
Business inventories for July are expected to be 0.4%, up from 0.3%, also at 7:00 AM.
Wednesday, September 18:
Building permits for August are forecasted to remain steady at 1.4M, reported at 5:30 AM.
Housing starts for August are expected to be 1.3M, up from 1.2M, also at 5:30 AM.
The FOMC will make its interest-rate decision at 11:00 AM.
Fed Chair Jerome Powell will hold a press conference at 11:30 AM, which is closely watched for insights into the future monetary policy direction.
Thursday, September 19:
Philadelphia Fed Manufacturing Survey for September is expected to be 2.7, a significant improvement from -7.0, reported at 5:30 AM.
Initial jobless claims for September are expected to be consistent at 230K, also at 5:30 AM.
U.S. leading economic indicators for August are forecasted at -0.4%, an improvement from -0.6%, reported at 7:00 AM.
Existing home sales for August are expected to be 3.9M, down from 4M, also at 7:00 AM.
Thank you as always for reading and have a great week!
Also, as a reminder, our prices increase on September 23rd for our financial tooling at unusualwhales.com. Join before to lock in old prices at unusualwhales.com/settings
NOTE: This post is not financial advice. The stock market is risky, and any trade or investment is expected to have some, or total, loss. Please do research before any trade. Do not use this information for investment decisions. Check terms on site for full terms. Agree to terms before considering this information.