Musk pushes Twitter files, Georgia runoff election, FTX fallout ongoing top week ahead

video

GOP must elect Herschel Walker to prevent Dems from having ‘complete majority’: Collins

“Cavuto: Coast to Coast” welcomes former Georgia Congressman Doug Collins as he discusses the high-profile support hitting the campaign trail ahead of the highly anticipated Georgia runoff election.

Wall Street is setting up for a busy week with the oil market in focus after OPEC+'s decision over the weekend. Additionally, investors will be watching the runoff election in Georgia and potentially more fallout from defunct crypto trading firm FTX and its founder, Sam Bankman-Fried. 

In stocks, all three of the major averages finished the Friday session little changed but gained for the week …

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES34429.88+34.87+0.10%
I:COMPNASDAQ COMPOSITE INDEX11461.497203-20.95-0.18%
SP500S&P 5004071.7-4.87-0.12%

Which also saw the Dow Jones Industrial Average exit its bear market after hitting the low in September.

Dow Jones Industrial Average

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

RUBIO SLAMS SENATE FAILURE TO SECURE PAID SICK LEAVE FOR RAIL WORKERS: NOT 'LINE ITEMS ON A SPREADSHEET'

Monday, Dec. 5

Oil prices could be volatile after OPEC+ agreed to keep production targets as is after EU member states decided a price cap on Russian oil will be $60 per barrel.  

TickerSecurityLastChangeChange %
USOUNITED STATES OIL FUND L.P.69.84-0.62-0.88%

Economic reports being released include ISM services index and factory orders. 

Additionally, Elon Musk is expected to continue releasing files from Twitter on censorship of sensitive and controversial topics, including Hunter Biden. 

Tuesday, Dec. 6

Headlining for Tuesday will be the United States Senate runoff election in Georgia, the incumbent Raphael Warnock, D-Ga., is competing against the GOP's Herschel Walker. The race remains tight as of Sunday evening.

WARNOCK OR WALKER? NEW POLL SHOWS WHO IS LEADING HEATED GA SENATE RUNOFF AS COUNTDOWN TO ELECTION BEGINS

Also on Tuesday, President Joe Biden will visit the Taiwan Semiconductor Manufacturing Co. plant being built in Arizona to talk about American manufacturing.

TickerSecurityLastChangeChange %
TSMTAIWAN SEMICONDUCTOR MANUFACTURING CO. LTD.81.50-1.18-1.43%

  (Reuters/Tyrone Siu / AP Newsroom)

In earnings, before market open, watch for Barnes & Noble Education, J. Jill, and Signet Jewelers, the world's largest retailer of diamond jewelry.

TickerSecurityLastChangeChange %
BNEDBARNES & NOBLE EDUCATION INC COM2.66+0.14+5.56%
JILLJ.JILL INC.24.75-1.04-4.03%
SIGSIGNET JEWELERS LTD.61.46-1.86-2.94%

After the bell, investors will expect to hear from Casey’s General Stores, Dave & Buster’s Entertainment, Smith & Wesson Brands, Stitch Fix and Toll Brothers, one of the largest luxury home builders in America.

  (Toll Brothers )

TickerSecurityLastChangeChange %
CASYCASEY’S GENERAL STORES INC.234.12-0.67-0.29%
PLAYDAVE & BUSTER’S ENTERTAINMENT INC.39.06-0.13-0.33%
SWBISMITH & WESSON BRANDS12.39+0.24+1.98%
SFIXSTITCH FIX INC.3.79-0.03-0.79%
TOLTOLL BROTHERS INC.47.89-0.49-1.01%

Wednesday, Dec. 7

On Wednesday, Benzinga will hold its Future of Crypto Conference in New York City, a timely event with the volatility in cryptocurrency. Bitcoin had dropped 10 percent this year and is trading around the $17,000 level. 

And experts will weigh in on the bankruptcy of trading platform FTX and the subsequent bankruptcy of BlockFi .

FTX founder Sam Bankman-Fried speaks during the New York Times DealBook Summit, Nov. 30, 2022, in New York City. (Michael M. Santiago/Getty Images / Getty Images)

Wednesday will also see Chinese President Xi Jinping will also arrive in Riyadh for a visit to Saudi Arabia.

Earnings in the morning will include Brown-Forman (whose brands include Jack Daniel's, Woodford Reserve and Chambord), Campbell's Soup, Ollie’s Bargain Outlets and United Natural Foods (Whole Food's largest supplier).

TickerSecurityLastChangeChange %
BF.BBROWN-FORMAN CORP.74.51+0.46+0.62%
CPBCAMPBELL SOUP CO.54.10+0.51+0.95%
OLLIOLLIE’S BARGAIN OUTLET HOLDINGS INC.60.47+0.02+0.03%
UNFIUNITED NATURAL FOODS INC.46.71+1.25+2.75%

After the bell, investors will hear from Rent the Runway.

TickerSecurityLastChangeChange %
RENTRENT THE RUNWAY INC.1.32-0.05-3.65%

Economic data being released on Wednesday will include mortgage applications, productivity, EIA weekly crude stocks, and consumer credit.

Thursday, Dec. 8

Thursday will see Disney+ launch an ad-supported tier, following in Netflix's footsteps from earlier this year.

TickerSecurityLastChangeChange %
DISTHE WALT DISNEY CO.99.41+0.76+0.77%

FTX FOUNDER SAM BANKMAN-FRIED TOOK QUESTIONS ABOUT COMPANY COLLAPSE: 'WE MESSED UP BIG'

The earnings of note on Thursday all kick off after market close with Broadcom, Chewy, Cooper Companies, Costco Wholesale, Lululemon Athletica and Vail Resorts.

TickerSecurityLastChangeChange %
AVGOBROADCOM INC.540.80-9.95-1.81%
CHWYCHEWY INC.44.92+0.57+1.29%
COOTHE COOPER COS. INC.322.32-4.30-1.32%
COSTCOSTCO WHOLESALE CORP.494.53-9.33-1.85%
LULULULULEMON ATHLETICA INC.385.99+4.17+1.09%
MTNVAIL RESORTS256.34-2.33-0.90%

Initial jobless claims will be the most watched piece of economic data released on Thursday.

CLICK HERE TO GET THE FOX BUSINESS APP

Friday, Dec. 9

Friday, the final earnings call of note for the week will be Johnson Outdoors before market open.

TickerSecurityLastChangeChange %
JOUTJOHNSON OUTDOORS58.69-0.10-0.17%

Economic data released on Friday will include the U of Michigan consumer sentiment index.

Source: Read Full Article