Home » Markets » Blue Origin spaceflight, Bitcoin, Elon Musk's Tesla-SolarCity trial top week ahead
Blue Origin spaceflight, Bitcoin, Elon Musk's Tesla-SolarCity trial top week ahead
Market figuring out inflation, Fed’s next move: Expert
Slatestone Wealth chief market strategist Kenny Polcari on inflation and the 10-year Treasury yield.
Investors will take in a wave of earnings this week from big names, including IBM, Netflix, Chipotle Mexican Grill, Coca-Cola, Twitter, American Express, American Airlines, Southwest Airlines, AT&T, Intel, Snap, Verizon and Domino's Pizza.
It also marks another big week in the U.S. space race as Blue Origin founder Jeff Bezos is set to blast off on Tuesday as part of the aerospace company's first crewed flight.
In addition, it will be a big week for Elon Musk and Bitcoin as he joins Twitter CEO Jack Dorsey for a discussion about the world's largest cryptocurrency. Musk will also head back to court for the second week of his Tesla-SolarCity trial.
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FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days.
AutoNation, IBM and JB Hunt will be among the big names kicking off the week for earnings. As for economic data, investors will be watching the National Association of Home Builders housing market index.
INTERNATIONAL BUSINESS MACHINES CORP.
J.B. HUNT TRANSPORT SERVICES, INC.
In addition, Builders FirstSource will transfer the listing of its common stock from the Nasdaq to the New York Stock Exchange. The company will remain trading under the ticker symbol BLDR.
"With the merger of Builders FirstSource and BMC creating the nation’s premier supplier of building materials and services, we felt it was important for our Company to be listed on the NYSE, which is the preferred exchange for our industry," Builders FirstSource president and CEO Dave Flitman said in a statement. "The NYSE has a long and established history of listing some of the most respected brands in the world, and as we continue to grow our business, we are excited to be affiliated with this flagship institution."
President Biden will also host King Abdullah of Jordan, Queen Rania and Crown Prince Hussein at the White House on Monday.
"His Majesty’s visit will highlight the enduring and strategic partnership between the United States and Jordan, a key security partner and ally of the United States," the White House said in a statement. "It will be an opportunity to discuss the many challenges facing the Middle East and showcase Jordan’s leadership role in promoting peace and stability in the region. President Biden looks forward to working with His Majesty to strengthen bilateral cooperation on multiple political, security, and economic issues, including the promotion of economic opportunities that will be vital for a bright future in Jordan."
Meanwhile, across the pond, the United Kingdom is lifting its COVID-19 restrictions. JPMorgan Chase, Goldman Sachs and Deutsche Bank employees in the U.K. are all set to return to the office.
JPMORGAN CHASE & CO.
THE GOLDMAN SACHS GROUP, INC.
DEUTSCHE BANK AG
Another stock to watch Monday will be Allegheny Technologies, which recently ratified a new four-year labor agreement with the United Steelworkers union, offering a competitive wages and benefits package covering approximately 1,300 employees through Feb. 28, 2025, and ending a worker strike that began on March 30.
ALLEGHENY TECHNOLOGIES, INC.
"This contract achieves the objectives we shared from the beginning," ATI's executive vice president of advanced alloys & solutions and high-performance materials & components Kim Fields said in a statement. "It rewards our employees for the important contributions they make to ATI's overall success, with wage increases and continued excellent, affordable health care. At the same time, it secures the controls we need to reduce our exposure to health care cost inflation, which is critical for the long-term viability of ATI's Specialty Rolled Products business."
Tuesday will mark a busy day with earnings from big names, including Chipotle, Netflix, Citizens Financial Group, Halliburton and Sleep Number. Building permits and housing starts are also on the docket for economic data.
CHIPOTLE MEXICAN GRILL, INC.
CITIZENS FINANCIAL GROUP, INC. (RHODE ISLAND)
SLEEP NUMBER CORP.
NVIDIA will also be the stock of the day as the company begins trading under its newly split shares. Each NVIDIA stockholder of record as of the close of business on June 21 will receive a dividend of three additional shares of common stock for every share held on the record date.
Bezos is also set to blast off to sub-orbital space on the aerospace company's first crewed spaceflight aboard its New Shepard rocket. Joining Bezos on board will be his brother Mark, 82-year-old female aerospace pioneer Mary Wallace Funk, and the company's first paying customer and youngest person to travel to space, 18-year-old Oliver Daemen.
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