This Week: Disney earnings, unemployment, consumer sentiment
Feb 5, 2023, 11:00 PM | Updated: 11:03 pm
A look at some of the key business events and economic indicators upcoming this week:
Disney reports earnings
Entertainment giant Walt Disney Co. will report its latest financial results on Wednesday.
Analysts polled by FactSet expect the company to report a drop in profit during its fiscal first quarter following a disappointing round of results previously. The latest results come as activist investor Nelson Peltz fights for a seat on the company’s board following the return of Bob Iger as CEO. The company is also making changes at its domestic theme parks in order to improve the public perception of its business.
Unemployment update
The Labor Department will report weekly unemployment claims on Thursday.
Economists polled by FactSet expect the latest data to show that fewer Americans filed for unemployment benefits last week. The figure has been falling over the last few weeks and remains low, reinforcing a tight labor market. Jobless claims generally serve as a proxy for layoffs, which have been relatively low since the pandemic wiped out millions of jobs in the spring of 2020.
Initial jobless benefit claims, weekly, seasonally adjusted. Source: FactSet.
Dec. 23 223,000
Dec. 30 206,000
Jan. 6 206,000
Jan. 13 192,000
Jan. 20 186,000
Jan. 27 183,000
Gauging consumer sentiment
The University of Michigan will release its monthly index for consumer sentiment on Friday.
The data for February provides economists and investors with another gauge on how people feel about spending and the economy amid the squeeze on their wallets from inflation. Economists expect the index to remain high. The index will also provide an update on inflation expectations in the year ahead.
Index of Consumer Sentiment, University of Michigan. Source: FactSet.
September 58.60
October 59.90
November 56.80
December 59.70
January 64.90
February 64.90 Est.
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