This week will be a busy one for investors, with U.S. consumer and housing data; several notable earnings reports; and federal financial regulators’ Congressional testimony all on the calendar. On Monday, BioNTech and Carnival will release quarterly results, followed by reports from Lululemon Athletica, McCormick, Micron Technology, and Walgreens Boots Alliance on Tuesday. Cintas and Paychex will follow on Wednesday, when Intel also hosts an investor event.
On the data front, the Conference Board’s Consumer Confidence Index for March and S&P CoreLogic’s Case-Shiller National Home Price Index for January are due out on Tuesday. The Bureau of Economic Analysis’ personal income and expenditures report for February is out on Friday. Banking regulators Michael Barr and Martin Gruenberg will appear before the House Financial Services Committee on Wednesday.
Lululemon Athletica is one of the biggest names on the earnings slate for the week, and its results could give insight into the athleisure trend heading into 2021. The Vancouver-based retailer is a reputable brand in the activewear industry, and its fourth-quarter performance will likely be weighed heavily by investors. Michael Smith Jr., Lululemon’s CEO since August 2020, will be navigating the company through the aftermath of the pandemic for the first time as its leader.
Michael Barr, the Vice Chair for Supervision at the Federal Reserve, has been a vocal critic of the banking industry since his appointment in 2009. He was previously the assistant secretary of the U.S. Treasury and is a professor of law and public policy at the University of Michigan. On Wednesday, Barr and Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg will testify in front of the House Financial Services Committee regarding the collapses of Silicon Valley Bank and Signature Bank. They are expected to provide an assessment of the current state of banking and efforts to maintain confidence in the U.S. banking system.
