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Jobs Data, GE Investor Day, Oracle Earnings, and More to Watch This Week

The latest US jobs data and several key earnings reports will be the highlights of this week.

On Wednesday, the Bureau of Labor Statistics will release the Job Openings and Labor Turnover Survey (JOLTS). The consensus estimate is for 10.7 million job listings on the last business day in January, down slightly from December.

On Friday, the BLS publishes job data for February. Economists expect an increase of 215,000 non-farm payrolls and a constant unemployment rate of 3.4%. Job growth surprised on the upside in January as the US economy added 517,000 new jobs.

Companies reporting this week include Ciena on Monday, CrowdStrike Holdings and Dick’s Sporting Goods on Tuesday, and Brown-Forman and Campbell Soup on Wednesday. JD.com
,

oracle
,

and Ulta Beauty will release the results on Thursday.

General Electric is holding an investor day on Thursday. Management will discuss expectations and plans for the coming year and for the upcoming spin-off from GE
‘S

electricity business. Apple holds its annual shareholders meeting on Friday.

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Finally, the Bank of Japan will announce a monetary policy decision on Friday. The central bank is expected to leave its short-term interest rate unchanged at minus 0.1%.

Monday 3/6

Ciena, Nutanix
,

and Trip.com report quarterly results.

Merck, in partnership with the American College of Cardiology and the World Heart Federation Expo, is hosting an investor event in New Orleans to discuss its pipeline of cardiovascular drugs.

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Tuesday 3/7

Casey’s General Store, CrowdStrike Holdings and Dick’s Sporting Goods announce earnings.

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The Federal Reserve reports consumer credit data for January. In 2022, total consumer debt jumped 7.8%, the biggest jump since 2001, to a record $4.78 trillion. Non-revolving loans — mostly mortgages and auto and student loans — rose 5.6%, while revolving loans — mostly credit card debt — rose 14.8%.

Wednesday 3/8

ADP Publications its national employment report for February. Economists are forecasting a rise of 180,000 private sector jobs after a 106,000 rise in January. The leisure and hospitality industry led in January.

Brown-Forman, Campbell Soup, and MongoDB

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publish quarterly results.

The employment office Statistics publishes the Vacancy and Turnover Survey. The consensus estimate is for 10.7 million job listings on the last business day in January, down slightly from December. Job openings have remained historically high and there are currently almost two vacancies for every unemployed person.

Thursday 3/9

JD.com, Oracle and Ulta Beauty will hold conference calls to discuss earnings.

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General Electric is hosting an investors’ meeting to discuss the coming year and upcoming spin-off from GE Vernova, which includes GE’s Digital, Renewable Energy and Power businesses. The spin-off is expected to be completed early next year.

The Federal Reserve publishes the US financial accounts for the fourth quarter, which includes data on total household net worth. As of September 30, household net worth totaled $143.3 trillion, about $7 trillion down from the record high set in the fourth quarter of 2021.

Friday 10/3

Apple is holding its annual shareholder meeting in a virtual format.

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The Bank of Japan announces its monetary policy decision. The central bank is expected to leave its short-term interest rate unchanged at minus 0.1%. Haruhiko Kuroda, the governor of the BOJ and architect of its negative interest rate policy, will retire in April. New Governor Kazuo Ueda is expected to maintain the BOJ’s ultra-loose monetary policy.

The BLS published the jobs report for February. The economy is expected to have added 215,000 nonfarm payrolls after adding 517,000 in January. The January data beat the consensus estimate by more than 300k. Economists are forecasting that the unemployment rate will remain unchanged at 3.4%, its lowest level in more than half a century.

write to Nicholas Jasinski at [email protected]

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