It's another busy week for investors with a plethora of blue chip and entertainment earnings on tap, as well as the Federal Reserve's decision on rates and the future of First Republic Bank.
The embattled region bank was taken over by the FDIC on Friday and its assets are being shopped to various big banks with several bids in on Sunday.
Shares of banks including JPMorgan, PNC and others may be active during the Monday session.
The stock market wrapped a solid week and month with all three of the major U.S. averages clocking gains.
FOX Business breaks down other events likely to move financial markets in the coming days.
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The Biden Administration’s new mortgage rule takes effect. The Loan-Level Price Adjustments (LLPAs), which are related to credit scores and downpayment sizes, will impact mortgages by Fannie Mae and Freddie Mac.
According to media reports, the new LLPAs essentially amount to fees imposed on borrowers with high credit scores as a way of subsidizing those with low credit scores. The goal is to support federal initiatives to increase affordable housing across the country."
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Also on Monday, Southwest pilots vote on a strike authorization and Amazon will begin to require employees to be in the office at least three days a week.
Before markets open, Loews, Norwegian Cruise Line, ON Semiconductor, and SoFi Technologies will report earnings
After the bell, Avis Budget Group, MGM Resorts, NXP Semiconductors, Sprouts Farmers Markets, and Stryker will report.
Economic data on Monday will include vehicle sales, S&P Global manufacturing PMI at 9:45 a.m., as well as both ISM manufacturing PMI and construction spending at 10:00 a.m.
Also on Monday, SpaceX Falcon 9 launches more Starlink satellites from Cape Canaveral, FL and US Ambassador Nicolas Burns will discuss US-China relations.
The alleged murderer of Cash App founder will be arraigned. The original arraignment was set for April 26, but the defense asked for more preparation time.
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Before markets open earnings will include ADT, DuPont, Marriott International, Molson Coors Beverage, Pfizer, and Uber.
After the bell, Advanced Micro Devices, Caesars Entertainment, Ford Motor, Prudential Financial, and Starbucks will all report.
Economic data will include JOLTS job openings, durable goods, and factory orders, all at 10:00 a.m.
The Federal Reserve is expected to raise interest rates by 25 basis points, according to the CME's Fed Watch Tool. The decision will be followed by Chairman Jerome Powell's press conference at 2:30 pm ET.
In earnings, CVS Health, Estee Lauder, Hanesbrands, Hyatt Hotels, and potentially Signature Bank will report before the opening bell.
Allstate, Marathon Oil, MetLife, Qualcomm, and Sturm Ruger will report.
Economic news includes MBA mortgage applications at 7:00 a.m., ADP national employment data at 8:15 a.m., the S&P Global services PMI at 9:45 a.m., the ISM non-manufacturing PMI at 10:00 a.m., and the EIA weekly crude stocks at 10:30 a.m.
Thursday, the European Centeral Bank (ECB) will make its own interest rate decision and host a presser as Europe deals with worse inflation than in the US.
Before market opens, ConocoPhillips, Kellogg, Moderna, Papa John’s International, and Paramount Global will report.
Apple earnings will dominate the headlines after the bell. Shares of the world's most valuable company have gained 30% this year, ahead of the S&P's nearly 9%.
AIG, Coinbase, Expedia, and Live Nation will also report after the close of trading.
Economic data will include challenger layoffs at 7:00 a.m. as well as initial jobless claims, international trade, and the preliminary Q1 productivity all at 8:30 a.m.
The month employment report for April will be released. Job growth is expected to have slowed with the addition of 180,000 positions down from 236,000 the prior month. The unemployment rate is expected to tick up to 3.6%.
In other economic news, consumer credit will come out at 3:00 p.m.
On Friday, the Federal Reserve Bank of St. Louis President James Bullard will participate in a fireside chat on the U.S. economy and monetary policy before an Economic Club of Minnesota luncheon.
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Final earnings for the week include, AMC Entertainment, Cinemark Holdings, DraftKings, fuboTV, and Warner Bros Discovery before markets open.
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Jessica MacKenzie contributed to this story.
