FOMC MEETING THIS WEEK, MU Earnings, and everything happening in the markets this week
Everything you need to know in three minutes or less
Good evening!
Let’s see what is upcoming in the markets this week, and what happened last week quickly before the week begins!
But some UW news first! We launched our API last week which gives you access to new market data, and unique UW options data. For enterprise users, we have a significant data offering available: https://unusualwhales.com/public-api
We also added new profiles to our Portfolios feature including the Portnoy Portfolio, Inverse Portnoy, Pro Cramer, Inverse Cramer, and two general Congress and Inverse Congress ETFs. We also expanded data, historical look backs, and are adding a ton here. Come follow your favorite traders today by clicking here!
This week is packed with events, and we have the most important macro event this month with the FOMC decision! Given the recent hot inflation reports, Fed futures traders believe there is a 98% chance the Fed keeps rates the same. At the beginning of the year, traders believed the Fed would begin to cut rates by March at this meeting. We have a Twitter Space with market experts this week before FOMC, if you want to join or have questions.
This week the $SPY fell 0.12% this week, with most of tech’s rally slightly fading as Thursday and Friday came. The SPY, Nasdaq, QQQ and others all hit ATHs however during the week. Four years ago, we had the Covid collapse. This is what the market looked like on that day, and we’ve consistently hit ATHs since then:
In other news this week:
- Bitcoin hit an all time high this week (again)!
- Vanguard CEO says that Vanguard will not offer spot Bitcoin ETFs because "it does not belong in a long-term portfolio."
- Apple, $AAPL, has agreed to pay $490 million to settle a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China, per Reuters
- The 6% commission on buying or selling a home is gone. National Association of Realtors has announced a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions.
-Housing affordability is the worst on record, per Bloomberg.
- Adidas has posted its first loss in 30 years and warns sales in North America would fall again, per Reuters.
- Layoffs rose to the highest for any February since 2009, per CNBC.
- Mark Zuckerberg of $META has sold another $100 million in $META stock yesterday, after the bill to ban TikTok was passed in the House. He has sold $1,775,351,428.026 of $META stock totally.
- Boeing, $BA, are unable to find the records documenting who worked on the Air Alaska plane, per the NTSB.
- Boeing, $BA, whistleblower John Barnett's attorneys on his suicide news, per ABC: "We didn't see any indication he would take his own life. No one can believe it."
-Bernie Sanders is holding a Senate hearing on making a 32-hour workweek with no reduction in pay the standard in America.
-Pornhub has disabled its site in Texas over objections to a state law that requires age verification to prevent access to minors, per the Houston Chronicle.
-Apple, $AAPL, buys AI startup DarwinAI
-TikTok ban bill has passed
-Boeing, $BA, overwrote surveillance footage from the repair facility where a door plug was reinstalled ahead of the blowout on an Alaska Airlines flight earlier this year, NTSB chair says per ABC.
Congressman William Keating appears to have sold Boeing, $BA, stock on Feb 28, 2024. The DOJ announced it was investigating Boeing on Feb 29, 2024. He sold the DAY before it was reported that DOJ was investigating Boeing. He sold up to $65,000, per filings. To see all politicians' trades and portfolios, check Unusual Whales: http://unusualwhales.com/portfolios
With the past understood, let's look at next week!
Here are the upcoming earnings this week, including the expected and implied moves, EPS mean estimates, call and put volumes, open interest (OI), stock volume, and notable details. See more at unusualwhales.com/earnings
March 18th Reports:
StoneCo (STNE), based in the Cayman Islands, is set to report post-market with an expected move of 1.79%. The EPS mean estimate is $0.31. The call volume is 6,643, and the put volume is 9,479.
DLocal (DLO) is expected to report post-market with an expected move of 3.08%. The EPS mean estimate is $0.15. The call volume is 9,189, and the put volume is 335.
Moonlake Immunotherapeutics (MLTX), a Swiss healthcare company, is expected to report with an unknown report time. The expected move is 6.59%, and the EPS mean estimate is -$0.21. The call volume is 533, and the put volume is 553.
Alpine Immune Sciences (ALPN), from the United States, is set to report post-market with an expected move of 6.53%. The EPS mean estimate is -$0.32. The call volume is 90, and the put volume is 410.
Science Applications International (SAIC), also from the United States, will report pre-market with an expected move of 8.88%. The EPS mean estimate is $1.44. The call volume is 1,008, and the put volume is 477.
March 19th Reports:
XPeng (XPEV), a Chinese consumer cyclical company, will report pre-market with an expected move of 0.99%. The call volume is 14,169, and the put volume is 14,016.
Tencent Music Entertainment (TME), also from China, is expected to report pre-market with an expected move of 1.15%. The EPS mean estimate is $0.13. The call volume is 1,990, and the put volume is 2,645.
ZTO Express (Cayman) (ZTO) will report post-market with an expected move of 1.91%. The call volume is 836, and the put volume is 463.
Core & Main (CNM), from the United States, will report pre-market with an expected move of 4.40%. The EPS mean estimate is $0.34. The call volume is 1,380, and the put volume is 221.
Soleno Therapeutics (SLNO) is expected to report with an unknown time. The expected move is 7.89%, and the EPS mean estimate is -$0.31. The call volume is 100, and the put volume is 435.
March 20th Reports:
Micron Technology (MU), a major US technology company, is set to report post-market with an expected move of 8.59%. The EPS mean estimate is -$0.42. The call volume is 114,204, and the put volume is 45,330.
PDD Holdings (PDD), based in Ireland, will report pre-market with an expected move of 14.62%. The EPS mean estimate is $1.44. The call volume is 43,340, and the put volume is 13,483.
Chewy (CHWY), from the US, is set to report post-market with an expected move of 2.63%. The call volume is 36,794, and the put volume is 12,567.
ImmunityBio (IBRX) will report with an unknown time. The expected move is 1.85%. The call volume is 4,606, and the put volume is 948.
General Mills (GIS), another US company, will report pre-market with an expected move of 2.38%. The call volume is 3,202, and the put volume is 1,927.
KB Home (KBH) is expected to report post-market with an expected move of 6.16%. The EPS mean estimate is $1.56. The call volume is 783, and the put volume is 499.
Guess (GES), a Swiss consumer cyclical company, will report post-market with an expected move of 6.59%. The EPS mean estimate is -$0.21. The call volume is 568, and the put volume is 636.
BioNTech SE (BNTX), from Germany, is expected to report pre-market with an expected move of 7.48%. The EPS mean estimate is $2.64. The call volume is 1,279, and the put volume is 2,183.
Five Below (FIVE), a US consumer cyclical company, will report post-market with an expected move of 17.00%. The EPS mean estimate is $3.78. The call volume is 243, and the put volume is 405.
Signet Jewelers (SIG), based in Bermuda, will report pre-market with an expected move of 9.48%. The EPS mean estimate is $6.27. The call volume is 1,125, and the put volume is 666.
JinkoSolar (JKS), from China, will report pre-market with an expected move of 3.89%. The call volume is 535, and the put volume is 802.
March 21st Reports:
Nike (NKE), a major US consumer cyclical company, will report post-market with an expected move of 6.42%. The EPS mean estimate is $0.69. The call volume is 25,779, and the put volume is 27,343.
FedEx (FDX) is also set to report post-market with an expected move of 14.36%. The EPS mean estimate is $3.55. The call volume is 10,444, and the put volume is 11,250.
Lululemon Athletica (LULU), based in Canada, will report post-market with an expected move of 38.46%. The EPS mean estimate is $5.01. The call volume is 12,215, and the put volume is 7,654.
Accenture (ACN), from Ireland, will report pre-market with an expected move of 16.15%. The EPS mean estimate is $2.65. The call volume is 2,843, and the put volume is 2,469.
Darden Restaurants (DRI), another US company, will report pre-market with an expected move of 8.84%. The EPS mean estimate is $2.64. The call volume is 444, and the put volume is 2,700.
Academy Sports & Outdoors (ASO) is set to report pre-market with an expected move of 6.11%. The EPS mean estimate is $2.26. The call volume is 2,686, and the put volume is 1,011.
Cymabay Therapeutics (CBAY) will report with an unknown time. The expected move is 0.47%, and the EPS mean estimate is -$0.32. The call volume is 909, and the put volume is 2.
Winnebago Industries (WGO) is expected to report pre-market with an expected move of 5.40%. The call volume is 133, and the put volume is 1,483.
March 22nd Report:
NextDecade (NEXT), from the United States, will report with an unknown time. The expected move is 0.79%, and the EPS mean estimate is -$0.21. The call volume is 1,175, and the put volume is 3,102.
Here is the economic calendar this week. More at unusualwhales.com/economic-calendar:
Here's a concise summary of the U.S. economic reports and notable events for the specified week, presented day by day:
Monday, March 18:
The Home Builder Confidence Index for February is expected to remain unchanged at 48.
Tuesday, March 19:
Building permits for February are projected to stay at 1.5 million, consistent with the previous figure.
Housing starts are anticipated to rise to 1.4 million in February, up from 1.3 million.
Wednesday, March 20:
The FOMC will announce its interest-rate decision at 11:00 AM PST.
Fed Chair Powell is scheduled for a press conference at 11:30 AM PST.
Thursday, March 21:
The Philadelphia Fed Manufacturing Survey for March is expected to drop to -4.0 from 5.2, indicating potential contraction in the sector.
Initial jobless claims for March are forecasted at 214,000, slightly up from 209,000.
The S&P Flash U.S. Manufacturing PMI for March is projected at 51.8, down from 52.2.
The S&P Flash U.S. Services PMI for March is forecasted at 52, slightly down from 52.3.
Existing home sales for February are expected to decrease to 3.9 million from 4 million.
The U.S. Leading Economic Indicators for February are anticipated to slightly improve to -0.1% from -0.4%.
Have a great week! Please try our portfolios’ feature if you are interested in following Congress, investing themes, and more: https://unusualwhales.com/portfolios
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