Netflix, Tesla report, and 2 other things to watch in next week’s market

First-quarter earnings season has begun, with some very big names reporting next week. Also: Notable economic reports and an Azuki NFT goes to space.

As we head into a long holiday weekend, the Dow Jones Industrial Average (DJIA) is holding onto some gains, while the Nasdaq Composite and S&P 500 have slipped into the red and are poised to post another week of losses.
At the time of this writing Thursday morning, the DJIA is up just shy of 1% for the week, while the Nasdaq and S&P 500 are down 2% and 1%, respectively.
Here are three things to watch in the stock market next week that could affect your portfolio.

1. Earnings roundup

First-quarter earnings season kicked off this week and it’s off to a good start.
Delta Air Lines (DAL) is among the top gainers in the S&P 500 this week after posting both strong first-quarter results and delivering an upbeat forecast for the quarter ahead.
Meanwhile, big bank earnings are mixed. JPMorgan Chase & Co (JPM) is trading lower going into the holiday weekend after missing on earnings, while shares of Wells Fargo & Co (WFC) have fallen on weaker-than-expected revenue.
Both Morgan Stanley (MS) and Goldman Sachs (GS) topped analyst estimates for both first-quarter earnings and revenue, and are looking to end the week in the positive.
Next week’s earnings schedule includes even more notable companies, which could move some closely watched stocks.
Monday

• Bank of America (BAC)
• The Charles Schwab Corporation (SCHW)
• The Bank of New York Mellon (BK)
• Synchrony Financial (SYF)

Tuesday

• Johnson & Johnson (JNJ)
• Netflix (NFLX)
• Lockheed Martin (LMT)
• Truist Financial (TFC)
• Halliburton (HAL)

Wednesday

• Tesla (TSLA)
• Procter & Gamble (PG)
• Kinder Morgan (KMI)
• Baker Hughes (BKR)
• Las Vegas Sands (LVS)
• United Airlines (UAL)
• Spirit Airlines (SAVE)
• Anthem (ANTM)

Thursday

• Philip Morris International (PM)
• Union Pacific (UNP)
• AT&T (T)
• American Airlines (AAL)
• Alaska Air Group (ALK)
• AutoNation (AN)

Friday

• Verizon Communications (VZ)
• American Express (AXP)
• SAP SE (SAP)

2. Economic reports and indicators

Mortgage rates hit 5% this week for the first time in over a decade. Rapidly rising rates, inflated home prices and sky-high inflation could continue to push homeownership out of reach for many Americans.
Next week, we’ll get a deeper look into the state of the housing market.
Separately, after hitting a 54-year low last week, US jobless claims are back on the rise.

Jobless claims rose by 18,000 to 185,000, the Labor Department said Thursday. Still, the number of people seeking unemployment benefits remains near its lowest levels in a half century, reflecting a strong labor market with a near record 11.3 million job openings as of the last day of February.
Looking to next week, here are some of the standout economic reports to pay attention to:

• NAHB/Wells Fargo Housing Market Index (HMI). Scheduled for Monday. A monthly report that gauges homebuilder opinion on the single-family housing market.
• New Residential Construction. Scheduled for Tuesday. This US Census Bureau report provides preliminary monthly estimates of the number of housing units authorized, started, and completed.
• Existing Home Sales. Scheduled for Wednesday. The National Association of Home Builders releases this monthly report, which details the sales and prices of existing single-family homes for the nation.
• Federal Reserve Beige Book. Scheduled for Wednesday. The Fed Beige Book, formerly called the Summary of Commentary on Current Economic Conditions, is released eight times per year and provides information about current economic conditions across the 12 Fed districts.
• Initial jobless claims. Scheduled for Thursday. A weekly report showing the number of workers applying for unemployment benefits for the first time.

3. NFTs are out of this world

The community behind Azuki, a popular NFT collection of 10,000 unique anime avatars, is reportedly sending an NFT to space next week.
Azuki’s “Bobu the Bean Farmer” NFT (Azuki #40) will join the Crew-4 mission with NASA and SpaceX to the International Space Station, according to The Crypto Times.
The NFT will be sent via a private key stored inside the crypto hardware wallet Ledger. It’ll be the first NFT to travel to space, on a trip that will last 31 days.
The Crew-4 mission is scheduled to launch Saturday, April 23.
Azuki first launched in January 2022, and has quickly become one of the world’s best-selling NFT collections. The most expensive Azuki currently goes for 9,999 Etherum (ETH), which is worth about $30.1 million at the time of this writing.
At the time of publication, Matt Miczulski owned ETH and shares of WFC, BAC, HAL, TSLA, and BKR.

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