Written by Brenda Nakalema

Zoom, Costco, Salesforce, Target and other stocks to keep on your radar this week

The last day of February will witness lots of action from U.S stock and bond markets, with earnings from HP …

The last day of February will witness lots of action from U.S stock and bond markets, with earnings from HP Inc, Lucid Group, and stay-at-home favourite Zoom video communications expected on Monday. Earnings continue on Tuesday with AutoZone, Hewlett Packard Enterprise, Salesforce.com plus Target. Dollar Tree, Okta, and Snowflake report earnings on Wednesday, and retailers Best Buy, Costco Wholesale, and Kroger report on Thursday.

Washington will also have a busy week as President Joe Biden’s state of the union address is scheduled for Tuesday night. The president is expected to address the ongoing Ukraine crisis, the Covid-19 pandemic, Supreme Court nominee Ketanji Brown Jackson and the rising inflation. The spotlight will also be on Federal Reserve chairman Jerome Powell. He will be updating the House Financial Services on policy on Wednesday, and Thursday, he’ll talk with the Senate Banking Committee.

On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) and its allies will meet to discuss increases in production. Russia’s invasion of Ukraine will be the hot topic in focus during the meeting, because the war threatens to disrupt an already stressed oil supply that’s resulted in prices hitting their highest levels since 2014.

Finally, Friday’s jobs report will be closely monitored. Consensus expectations are that the economy will add 385,000 jobs in February, after an increase of 467,000 in January.

Monday 28/2

HP Inc., Lucid Group, Oneok, SBA Communications, Workday and Zoom Video Communications report quarterly results.

The Chicago Purchasing Managers Index for February released by The Institute for Supply Management. The consensus estimate is for a 63 point reading, two points below the January figure.

Tuesday 1/3

Earnings releases from AutoZone, Bank of Nova Scotia, Hewlett Packard Enterprise, Hormel Foods, Ross Stores, Salesforce.com and Target. Chevron holds its investor day for 2022.

President Joe Biden delivers his state of the Union address.

The ISM releases its February Manufacturing Purchasing Managers Index. Economists forecast a 57.8 reading, about the same as the January reading. The index has reported 20 consecutive readings above 50, signalling growth in the nation’s manufacturing sector.

Wednesday 2/3

ADP releases its National Employment Report for Feb. Economists forecast an increase of 410,000 jobs in the private-sector employment after a sudden decrease of roughly 301,000 in the month of January.

Release of quarterly results from Dollar Tree, Okta, Snowflake, Splunk, and Veeva Systems. Annual investor days held for Citigroup and Exxon Mobil.

The Federal Reserve Chairman Jerome Powell gives his semiannual policy update to Congress before the House of Financial Services Committee; He’ll also address the Senate Banking Committee on Thursday reagrding the same issues.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies hold a video conference. The group has been increasing production by roughly 400,000 barrels per day, even as Brent Crude, the international benchmark for oil, slightly surpassed $100 a barrel; a first since April 2014.

Thursday 3/3

Earnings calls from Best Buy, Broadcom, Cooper Cos, Costco Wholesale, Kroger, Marvell Technology, and Toronto- Dominion Bank. Verizon Communications hosts its 2022 investor day.

The Purchasing Managers Index for February released by ISM. The consensus estimate is for 61 reading, one point higher than January’s figure.

Friday 4/3

Apple conducts its annual shareholder meeting in a video conference.

The Labour Department releases its jobs report for February. The economy is expected to add 385,000 jobs after the January increase of 467,000. The unemployment rate is seen dropping lower from 3.9% from 4%.