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Fox Business
Fox Business
5 May 2023


In the coming week, along with a key inflation report and several big earnings, investors will also continue to monitor the banking crisis as regional bank stocks, including PacWest, and First Horizon, which scrapped plans to merge with TD Bank last week, remain volatile. 

TickerSecurityLastChangeChange % PACWPACWEST BANCORP5.76+2.59+81.70%FHNFIRST HORIZON CORP. (TENNESSEE)10.91+0.91+9.10%TDTHE TORONTO-DOMINION BANK62.25+1.92+3.18%

For the week, the S&P 500 ended fractionally lower off 0.8%. 

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FOX Business breaks down other events likely to move financial markets in the coming days. 

On Monday, Axiom Space plans to launch the second-ever private astronaut mission to the International Space Station using a SpaceX rocket out of Kennedy Space Center.

Earnings on tap include BioNTech, Freshpet, KKR & Co, Six Flags Entertainment and Tyson Foods.

TickerSecurityLastChangeChange % BNTXBIONTECH SE108.43+0.79+0.73%FRPTFRESHPET69.54+0.74+1.08%KKRKKR & CO.51.50+1.90+3.83%SIXSIX FLAGS ENTERTAINMENT CORP.22.45+0.27+1.22%TSNTYSON FOODS INC.60.70+0.57+0.96%

After the bell, Lucid Group, Palantir Technologies and PayPal report. 

TickerSecurityLastChangeChange % LCIDLUCID GROUP INC.7.73+0.35+4.74%PLTRPALANTIR TECHNOLOGIES INC.7.41+0.03+0.41%PYPLPAYPAL HOLDINGS INC.74.97+3.16+4.40%

Economic data on Monday will include wholesale inventories, which are expected to rise slightly, and inflation expectations, which are forecast to fall from 4.7% to 4.5%.

On Tuesday Biden will meet with lawmakers, including Speaker Kevin McCarthy, R-Calif., about the debt limit as the possibility of default grows nearer. Treasury Secretary Janet Yellen warned last week that a default, if no compromise is found, could happen as early as June 1. 

Biden and McCarthy

President Joe Biden and House Speaker Kevin McCarthy will meet on Tuesday to discuss a solution to the growing threat of the U.S. defaulting on its debt. (Drew Angerer/Getty Images / Getty Images)

At noon, New York Federal Reserve President John Williams will speak at the Economic Club of New York. His comments will be closely watched for any views on the current health of the U.S. banking system. 

Elsewhere, Perrigo’s first of its kind over-the-counter birth control pill will be reviewed by the FDA for approval on Tuesday and Wednesday.

TickerSecurityLastChangeChange % PRGOPERRIGO CO. PLC35.73-1.21-3.26%

Earnings include Fisker, Nikola, Oatly Group and SeaWorld Entertainment.

TickerSecurityLastChangeChange % FSRFISKER INC.6.22+0.40+6.87%NKLANIKOLA CORP.0.98+0.07+7.11%OTLYOATLY GROUP AB2.10+0.01+0.48%SEASSEAWORLD ENTERTAINMENT INC55.16+2.29+4.33%

After the bell, Airbnb, Blink Charging, Occidental Petroleum and Rivian report. 

TickerSecurityLastChangeChange % ABNBAIRBNB INC.119.90+2.27+1.93%BLNKBLINK CHARGING CO7.17+0.18+2.58%OXYOCCIDENTAL PETROLEUM CORP.60.69+1.99+3.39%RIVNRIVIAN AUTOMOTIVE INC.13.41+0.46+3.55%TickerSecurityLastChangeChange % BPBP PLC37.13+1.02+2.82%TATRAVELCENTERS OF AMERICA86.04+0.02+0.02%

Wendesday TravelCenters of America will conduct a shareholder vote on a $1.3 billion sale of the company to BP. TravelCenters of America is the largest publicly traded full-service travel center network in the U.S.  About 280 truck stops in 44 states are included in the sale. The purchase would help BP compete in the diesel market.

Earnings include EVgo, GoodRx Holdings, New York Times, Roblox and Wendy’s before the opening bell. 

TickerSecurityLastChangeChange % EVGOCLIMATE CHANGE CRISIS REAL IMPACT I6.18+0.23+3.87%GDRXGOODRX HOLDINGS INC.4.60+0.22+5.02%NYTTHE NEW YORK TIMES CO.39.96+0.96+2.46%RBLXROBLOX CORP.35.05+0.57+1.65%WENTHE WENDY'S CO.22.63+0.59+2.68%

After the bell, Beyond Meat, Cheesecake Factory, Robinhood Markets, Sonos and Walt Disney, which has been battling with Florida Gov. Ron DeSantis over the park's development deals in the state, report. 

TickerSecurityLastChangeChange % BYNDBEYOND MEAT INC.12.91+0.08+0.62%CAKECHEESECAKE FACTORY INC.32.79+0.08+0.24%HOODROBINHOOD MARKETS INC.8.85+0.37+4.36%SONOSONOS INC.21.61+0.41+1.93%DISTHE WALT DISNEY CO.100.53+3.08+3.16%

Economic data on Wednesday will include the much watched Consumer Price Index, which is expected to rise 5.5%, slightly down from the prior month's 5.6%. Prices for food items, including eggs, were up 36% as of March. 

Inflation affecting egg prices

A shopper checks eggs at a grocery store in Glenview, Illinois. Inflation has seen Americans paying more for everyday items. (AP Photo/Nam Y. Huh / AP Newsroom)

Additionally, mortgage applications and EIA weekly crude stocks will be released. 

Earnings on Thursday will include reports from Blade Air Mobility, JD.com, Krispy Kreme and Tapestry before the market opens.

TickerSecurityLastChangeChange % BLDEBLADE AIR MOBILITY INC.2.64+0.10+3.94%JDJD.COM INC.35.88+0.10+0.28%DNUTKRISPY KREME14.97+0.21+1.42%TPRTAPESTRY INC.38.98+0.91+2.39%

Economic data to watch on Thursday includes weekly jobless claims and producer prices. 

Friday will round out the week with a speech from Federal Reserve Bank of St. Louis President James Bullard on "Toward a Monetary Policy Strategy" in a panel discussion at the Hoover Monetary Policy Conference, "How to Get Back on Track," hosted by the Stanford University Hoover Institution.

James Bullard making a speech

James Bullard, president and chief executive officer of the Federal Reserve Bank of St. Louis, delivers a speech in 2019. (Luke MacGregor/Bloomberg via Getty Images / Getty Images)

Economic data on Friday will include import and export prices, as well as the University of Michigan consumer sentiment index. 

FOX Business' Jessica MacKenzie contributed to this story.