Here's what awaits traders on the first full trading week of the New Year.
On the earnings front, the week starts and ends quietly but Tuesday kicks off with both Sonic (SONC) and SuperValu (SVU) reporting results. The Street is expecting Sonic, the American drive-in fast-food restaurant chain to earn 23 cents a share in its latest quarter.
Wednesday continues with agriculture giant Monsanto (MON). Thursday is a big day for corporate earnings. Ruby Tuesday (RT), Constellation Brands (STZ) post results. Along with retailers, Bed Bath and Beyond (BBBY), Container Store (TCS) and Finish Line (FINL).
The markets will also get a tap on housing when KB Home (KBH) releases its quarterly earnings. Drug store giant Walgreens (WBA) is set to report on Thursday before the bell. The expectations are for earnings of 96 cents a share.
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On the economic calendar, the week is fully scheduled on the data front. Monday, investors will get the latest on Construction Spending, the ISM Manufacturing Index also releases. On Tuesday, Auto and Truck sales for December rolls out. The week moves forward with the ADP employment data, Factory Orders and ISM services out on Wednesday.
As usual, Weekly Initial Claims releases on Thursday. And on Friday, we get the big Jobs Report, that's when we'll learn of any changes in hourly earnings and the average workweek from December as well as getting the latest unemployment rate.
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