Jobs Data, PMI In Focus With A Muted Earnings Calendar Next Week

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Wall Street’s major averages were in the red on Friday, with oil sustaining higher prices even as Israeli Prime Minister Netanyahu said the country is helping to reopen the Strait of Hormuz. Oil prices slipped late on Thursday on the news that Benjamin Netanyahu said Iran no longer has the capacity to enrich uranium or make ballistic missiles. Meanwhile, the U.S. military is reportedly sending thousands more Marines to the Middle East, including three warships, according to U.S. officials.

With no major earnings scheduled, investors will keep a keen eye on key economic data releases next week. S&P Global PMI data for March is due on Tuesday. Crude oil inventory data will be out on Wednesday. On Thursday, initial jobless claims data will be released.

GameStop (GME), BYD (BYDDF), and Carnival Corp. (CCL) are among the companies reporting their results next week.

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Earnings spotlight: Tuesday: GameStop. See the full earnings calendar.

Earnings spotlight: Wednesday: PDD (PDD), Beyond Meat (BYND). See the full earnings calendar.

Earnings spotlight: Thursday: Pony Ai (PONY). See the full earnings calendar.

Earnings spotlight: Friday: BYD, Carnival Corp. See the full earnings calendar.

Volatility watch: Coinbase (COIN) and lululemon (LULU) have a high level of implied volatility based on options trading. Sunrun (RUN) and Omega Therapeutics (OMGAQ) head into the new week with a high level of short interest outstanding on them. The most overbought stocks per their 14-day relative strength index include Tilly’s (TLYS), Adecoagro (AGRO