Pandemic unemployment benefits, Beige Book, GameStop earnings top week ahead

Pandemic unemployment benefits, Beige Book, GameStop earnings top week ahead

The upcoming week will feature earnings from big names including GameStop, Lululemon Athletica, Kroger, American Outdoor Brands and Dave & Buster’s. In addition, investors will take in key economic data including the Beige Book, job openings, consumer credit, and the producer price index.

The deadline also looms on the expiration of pandemic unemployment benefits for roughly 7.5 million Americans on Monday. And officials from the United States and Mexico will hold a high-level economic dialogue in the back half of the week.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35369.09 -74.73 -0.21%
SP500 S&P 500 4535.43 -1.52 -0.03%
I:COMP NASDAQ COMPOSITE INDEX 15363.515931 +32.34 +0.21%

This as the Dow and S&P 500 are trading lower after Friday’s weaker than expected jobs report. Meanwhile, the Nasdaq finished in record territory Friday for its third straight day in a row.

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.

Monday 9/6

While the stock market will be closed on Monday for the Labor Day holiday, roughly 7.5 million Americans are expected to lose temporary pandemic unemployment benefits. About half of the U.S. has ended the additional payments early.

The Labor Department said Thursday that 340,000 Americans filed for first-time jobless benefits in the week ending Aug. 28, down 14,000 from the prior week. The reading was the lowest since March 14, 2020. Continuing claims for the week ended Aug. 21, meanwhile, declined to a pandemic low of 2.748 million from a downwardly revised 2.908 million the week prior. Analysts were expecting 2.775 million filings.

Almost 12.2 million people received some form of unemployment assistance, an increase of more than 178,500 from the previous week. That was less than half of the 29.7 million that filed a year earlier but well above the 2 million in each week prior to the pandemic.

Tuesday 9/7

Kicking off the week will be earnings will be Casey’s General Stores after the bell.

Ticker Security Last Change Change %
CASY CASEY’S GENERAL STORES, INC. 206.50 -1.50 -0.72%

A series of companies will begin enforcing vaccine mandates on Tuesday, including Goldman Sachs, Cigna, and Humana. Goldman and Cigna will require that workers are vaccinated before returning to the office, while Humana says unvaccinated workers not working remotely will be required to take regular COVID tests…Read more>>

Source:-foxbusiness

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