Walgreens, Costco, Constellation Brands, and Other Stocks to Watch This Week

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This week’s earnings report is clustered on Thursdays: Conagra Brands,

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constellation brand,

Lamb Weston Holdings,
And Walgreens Boots Alliance all report then. Costco Wholesale also released its December sales figures on Wednesday. Fourth quarter earnings season begins next weekend in earnest.

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Economic data of the week Highlights Friday will be Jobs. The Labor Department releases December employment figures that morning, and is expected to see an increase of 374,000 non-farm payrolls and an unemployment rate of 4.1%. Those would compare with 210,000 new jobs and a 4.2% unemployment rate in November.

Other figures to be released this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for December on Tuesday, followed by the Services equivalent on Thursday. Both are expected to remain firmly in the expansion zone.

Fed watchers will pay close attention to the minutes of the Federal Open Market Committee’s mid-December meeting, which is out Wednesday. Officials accelerated the central bank’s asset-buying momentum at that gathering.

Monday 1/3

markets around the world, Canada, including Japan and the United Kingdom, are closed for New Year’s Day.

census Bureau Reports construction spending figures for November. Consensus estimates for the total to grow at a 0.6%, month-to-month, seasonally adjusted annual rate of up to $1.61 trillion. This would be a record high, surpassing October’s $1.6 trillion.

Tuesday 1/4

labor bureau Statistics issues job openings and labor turnover surveys. Economists forecast 11.2 million job openings on the last trading day of November, 167,000 more than in October. Job openings remain close to a record high of 11.1 million at the start of this summer.

Institute for Supply Management released its Manufacturing Purchasing Managers’ Index for December. The reading is expected to be 60.5, roughly even with the November figure. The ISM’s PMI has had 18 consecutive monthly readings of over 50, indicating expansion in the US manufacturing sector.

Wednesday 1/5

Costco Wholesale reports sales for December.

federal open market The Committee issues minutes from its mid-December monetary policy meeting.

economic bureau The analysis reports light vehicle sales for December. Consensus estimates are for a seasonally adjusted annual rate of 13.5 million vehicles. It will be 4.7 per cent higher than in November, but 17.2% below the year-ago level. Supply constraints, particularly global shortages of semiconductors, have hampered auto sales for the second half of 2021.

ADP releases its national employment report for December. Economists forecast an increase of 360,000 jobs in private sector employment, with 5.4 million jobs this year, after a loss of 9.5 million jobs in 2020.

Thursday 1/6

Conagra Brands, Constellation Brands, Lamb Weston Holdings, and Walgreens Boots Alliance reported quarterly results.

ism release Its services PMI for December. Economists forecast a reading of 66.9, nearly two points lower than the November figure, which was a record high for the index’s 23-year history.

Labour Department Reports initial jobless claims for the week ending January 1. For the four weeks in December, claims averaged 199,250, the lowest reading since October 1969.

Friday 1/7

Labour Department Releases employment report for December. The economy is expected to add 374,000 jobs, after a gain of 210,000 in non-farm payrolls for November. The unemployment rate has come down from 4.2% to 4.1%. With an average reduction of 343,300, payroll gains in three of the last four jobs reported came in well below estimates. The labor force participation rate is expected to range from 61.8% to 61.9%.

Write [email protected] . on Nicholas Jasinski

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