Catalyst Watch: Tesla deliveries, Constellation Brands earnings, and the June Jobs Report

Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s actionable events that stand out. Check out Seeking Alpha’s earnings calendar for a full list of companies due to report.

Monday – July 1

• Volatility watch – Options trading volume has moved much higher on Grindr (GRND) and Virgin Galactic (SPCE). The most overbought stocks per their 14-day relative strength index include United Therapeutics (UTHR), Insmed (INSM), and Alimera Sciences (ALIM). The most oversold stocks per their 14-day Relative Strength Index include Ovid Therapeutics (OVID), G1 Therapeutics (GTHX), and Shattuck Labs (STTK). Short interest is still sky-high on Applied DNA Sciences (APDN) and Zapp Electric Vehicles (ZAPP) heading into next week’s action.
• All week – Key data reports due to arrive during the week include updates on deliveries from Tesla (TSLA), Nio (NIO), XPeng (XPEV), Rivian Automotive (RIVN), Li Auto (LI) and Lucid Group (LCID). Quarterly sales reports from General Motors (GM), Ford Motor (F), and Toyota (TM) will also be closely watched. Investors will also monitor the monthly Macau gross gaming revenue report, the monthly update on Class 8 truck orders, firearm background check data from the FBI, and discount broker DARTs reports.
• All day – The FTC will hold a closed door meeting. There is some chatter that the topic could be the planned Tempur Sealy (TPX)-Mattress Firm (MFRM) merger.
• All day – KORE Group (KORE) will begin trading on a split-adjusted basis following the company’s 1-for-5 reverse stock split.
• 10:00 a.m. The May Construction Spending report will be released.

Tuesday – July 2

• Earnings watch – Notable companies due to report include MSC Industrial (MSM), Polestar Automotive (PSNY), and Simulations Plus (SLP).
• All day – Notable investor events include annual meetings for Box (BOX) and Snowflake (SNOW).
• All day – It is the four-year anniversary of the Lemonade (LMND) IPO. The stock traded more than 30% below its IPO pricing level at the time of publication.
• 9:30 a.m. Federal Reserve Chairman Jerome Powell will participate in a policy panel before the European Central Bank Forum on Central Banking 2024.

Wednesday – July 3

• Earnings watch – Notable companies due to report include Constellation Brands (STZ).
• All day – Universal Studio’s (CMCSA) Despicable Me 4 will open in the U.S. The film is expected to top $100 million for its extended five-day opening weekend. The franchise has a strong track record with Despicable Me ($251.7 million), Despicable Me 2 ($368 million), Minions ($336 million), Despicable Me 3 ($264.6 million), and Minions: The Rise of Gru ($370.2 million) all performing well at the box office.
• All day – The three-day Droidcon Berlin conference for Android developers will begin in Berlin.
• All day – ASLAN Pharmaceuticals (ASLN) will begin trading on a post-split basis following the one-for-eight reverse ADS split.
• All day – The May Factory Orders report will be released.
• 7:00 a.m. – Federal Reserve Bank of New York President John Williams is scheduled to speak at an ECB Forum.
• 10:30 a.m. The EIA Crude Oil Inventories report is expected to attract more attention than normal.
• 1:00 p.m. The U.S. stock markets will close early ahead of the Independence Day holiday.
• 2:00 p.m The Federal Reserve will release the minutes from the June meeting of the FOMC.

Thursday – July 4

• All day – The U.S. stock markets will be closed for observance of the Independence Day holiday.
• All day – The European Union plans to begin imposing provisional tariffs of 17.4% to 38.1% on electric vehicles from China for four months.

Friday – July 5

• All day – The United Nations’ FAO food price index and grains report will be released.
• 8:30 a.m. The May U.S. Job report will be released. Economists forecast that 180,000 jobs were added to the economy during the month and that the unemployment rate stayed at 4.0%.

Seeking Alpha Editor Josh Fineman contributed to this story.