As markets return to a full week of trading, investors will be watching for labor market data throughout the week, including the U.S. payroll report on Friday.

Several Federal Reserve speakers are on the calendar, including San Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee. A handful of companies will report earnings, including Paychex (PAYX), Dave & Buster’s Entertainment (PLAY), Levi Strauss (LEVI) and BlackBerry Limited (BB).

Other data this week includes purchasing managers index (PMI) reports on the manufacturing and service sectors.

Monday, April 1

• S&P U.S. Manufacturing PMI (March final)
• Construction spending (February)
• ISM manufacturing (March)

Tuesday, April 2

• Factory orders (February)
• Job openings (February)
• San Francisco Fed President Mary Daly is scheduled to deliver remarks and New York Fed President John Williams moderates a panel discussion
• Paychex (PAYX), Cal-Maine Foods (CALM) and Dave & Buster’s Entertainment (PLAY) report earnings

Wednesday, April 3

• ADP employment (March)
• S&P U.S. Services PMI (March final)
• ISM services (March)
• Chicago Fed President Austan Goolsbee delivers remarks and Fed Chairman Jerome Powell Participates in a Forum at Standford
• Acuity Brands (AYI), Levi Strauss (LEVI) and BlackBerry Limited (BB) report earnings
• Disney (DIS) Annual Shareholder Meeting

Thursday, April 4

• U.S. trade balance (February)
• Cleveland Fed President Loretta Mester and Chicago Fed President Austan Goolsbee are scheduled to deliver remarks
• RPM International (RPM) and Conagra Brands (CAG) are scheduled to deliver earnings

Friday, April 5

• U.S. employment report (March)
• Consumer credit (February)

Disney Proxy Battle Comes to a Head This Week

Investors will be watching how a months-long battle with activist investors will play out at Disney's annual shareholder meeting on Wednesday.

Nelson Peltz and his fund Trian Management have been pressuring the company on and off since January 2023. Peltz is asking shareholders to elect himself and former Disney Chief Financial Officer (CFO) Jay Rasulo in an effort to restructure the board, alter performance-based compensation plans, and develop a new streaming strategy.

Disney for its part is trying to stave off the coup and has received notable support from the likes of JPMorgan's Jamie Dimon.

Investors Looking Toward Labor Market Data

Market watchers will get several updates on the U.S. labor market this week, including the results from Friday’s U.S. payrolls report for March.

Last month, unemployment reached the highest levels since January 2022.  A strong labor report could give Federal Reserve officials more to contemplate when considering the timing for interest rate cuts, especially if wages continue to move higher, potentially fueling higher inflation. 

The Bureau of Labor report on Friday isn’t the only jobs data coming next week. On Tuesday, the quarterly job openings survey results will be released. And Wednesday, the ADP report’s private sector payrolls can indicate how Friday’s release may look.

Fed Speakers on Tap

Following last week's confirmation that inflation is stickier than expected, several Federal Reserve officials are on the calendar to speak. They could potentially provide clues on when the central bank may begin cutting interest rates.

Starting with San Francisco Fed President Mary C. Daly on Tuesday, investors will also hear from New York Fed President John C. Williams, Chicago Fed President Austan Goolsbee, and Cleveland Fed President Loretta Mester throughout the week. All eyes will be on Fed Chair Jerome Powell at Standford on Wednesday, but he will likely stick to the same talking points he delivered Friday.