Here’s your weekly Investing Action Plan: what you need to know as an investor for the coming week. The auto industry will see more electric-vehicle moves during events by Stellantis and Nio. Key economic reports will come as the post-pandemic rebound continues.
Chrysler Parent Plans EV Day
Stellantis (STLA), formerly Fiat Chrysler, holds an EV Day on Thursday. The European auto giant is accelerating its shift to electric vehicles to catch up with Tesla (TSLA) and traditional rivals like General Motors (GM) and Volkswagen (VWAGY). In January, Stellantis outlined plans for 10 new EV models in 2021, including hybrid-electric vehicles. Investors may be hoping for word of an electric Ram as other carmakers and startups prepare to bring all-electric trucks to market this year or next.
Nio Eyes Batteries, Charging
The Chinese EV maker will hold a Power Day event in Shanghai next Friday, tied to batteries and charging. Nio (NIO) added dozens of battery-swap stations across China in the two weeks before the event. The company has made EV battery swapping a key differentiator vs. Tesla, which abandoned battery swapping years ago for EV recharging via Superchargers.
On Wednesday, the Labor Department will release its job opening and turnover report. The prior report showed a record number of openings and quitting as the workforce undergoes historic churn during the economic recovery. Also Wednesday, the Federal Reserve will publish minutes from its last policy meeting, when central bankers moved up their timeline for rate hikes amid accelerating inflation. On Thursday, the Labor Department issues its weekly jobless claims data, and the Fed puts out its consumer credit report.
Stocks To Watch
American Eagle Outfitters (AEO) remains near a 38.38 buy point after flirting with a breakout in recent sessions. Urban Outfitters (URBN) is still just below a 42.05 entry. L Brands (LB) is in buy range after clearing a 72.09 buy point. Children’s Place (PLCE) is forming a new base with a 103.43 buy point. Lululemon (LULU) is working its way back after a long consolidation with a 387.47 entry but is forming a handle with a 371.10 buy point.
YOU MAY ALSO LIKE: