Tuesday – December 20
Earnings watch – Notable companies due to report include Nike (NKE), General Mills (GIS), FedEx (FDX), and Blackberry (BB).
All day – The results of the European antitrust review of the planned Broadcom (AVGO) acquisition of VMware (VMW) is expected to be announced.
All day – Arcus Biosciences (RCUS) and Gilead Sciences (GILD) will present details on Phase 2 data on Domvanalimab at ASCO plenary Series.
5:00 p.m. Nike (NKE) will hold its earnings call. Companies that have a very high trading correlation with Nike include Under Armour (UAA), Foot Locker (FL), Skechers (SKX), Lululemon (LULU), as well as Starbucks (SBUX) due to the China connection.
5:30 a.m. FedEx (FDX) will hold its earnings call and provide guidance that could impact sentiment on UPS (UPS). Norfolk Southern (NSC) and Southwest Airlines (LUV) also have a surprisingly high trading correlation with FedEx.