What To Watch In Short Week Of Stock Market
The Labor Day-shortened week in the stock market brings out the importance of being aware of what is happening.
Getting caught up in the long weekend without coming into the week fully prepared can be easy, but not a prudent trading plan. Between earnings, Federal Reserve speeches, and any news catalysts, there is plenty to be aware of this week.
News catalysts pressure market movement
Earnings season is winding down, but there are still some important names to watch.
Both Gamestop (GME) and Nio, Inc. (NIO) report starting on Wednesday. NIO will report before the open, and GME will report after the close. NIO is on the watchlist as it can be a guide for the electric vehicle (EV) sector, and GME can foreshadow the meme stock direction.
Next up, on Thursday, there is DocuSign (DOCU) after the close. On Friday, Kroger (KR) reports before the opening.
The next event to highlight on the trading calendar is Federal Reserve (Fed) Chairman Jerome Powell speaking on Thursday. Powell can shake the market up in a heartbeat. Powell will give this speech at 9:10 a.m. Eastern.
The final catalyst to be aware of this week is Russia shutting down the Nord Stream Pipeline. Over the weekend, Russia said they have no plans to resume until the west collectively agrees to lift economic sanctions. This news sent the market tumbling last Friday, and it will be essential to note market reaction as this continues to be a pressing concern for global markets.