Tesla Deliveries, Jobs Report Headline Short Week: Investing Action Plan

This weekend, China's EV makers will release sales information.

Tesla Deliveries, Jobs Report Headline Short Week: Investing Action Plan

This is your Investing Action Plan. It contains everything you need as an investor for this week. Over the weekend, Tesla (TSLA), and China's EV rivals, will release Q1 delivery numbers. General Motors (GM), Ford Motors (F) and other giants in the auto industry will publish U.S. sales figures. This will be an active week for economic data. However, the jobs report will be out Friday when U.S. markets are closed for Good Friday.

Stocks to Watch

Investors should look to increase their exposure slowly, as the stock market rally is now in an uptrend. Don't buy too much or buy too long. Analog Devices, Mobileye (MBLY), Meritage Homess (MTH), New Relics (NEWR), Crocss (CROX), and Mobileye (MBLY) all flash buy signals. These stocks have not yet extended their 50-day lines. Two chip plays that reflect the sector's strength are MBLY and ADI. Crocs, Meritage and New Relic reflect strengths in the footwear, software, and housing areas.

Get Jobs Reports on Tap

The Federal Reserve could move the odds of one more rate increase on May 3rd by releasing a large amount of economic data over the next week. It could be that the Fed needs to see clear evidence of an economic slowdown in order to change its policy, unless bank health concerns are a factor.

The March employment report will be the largest single data release between now, and then. Given the low number of weekly claims for unemployment benefits, economists expect a strong report. The U.S. markets will close Friday. Wall Street will not react to the jobs report before Monday.

The Labor Department's February job openings report and the labor turnover survey were released earlier in the week at 10 a.m. The ISM manufacturing index will be released Monday at 10 a.m. to show whether the slight contraction in factory activity in March continued.

The ISM service-sector activity indicator, which is scheduled for Wednesday at 10:00 a.m., however, has shown strength over the past two months. It softened in the latter part of 2022. Credit card companies have data suggesting a slightly weaker March reading.

Tesla Deliveries Due

Tesla (TSLA), is set to release production and delivery data for the first quarter 2023 in April. According to FactSet, Wall Street anticipates approximately 432,000 Tesla deliveries. According to previous releases, analysts predict that Tesla will release its data in April 2. Consensus predictions by analysts predict that deliveries will rise 39% over a year ago. They would also rise from Q4's 405,278. Tesla's sales were boosted by big price reductions around the globe and new U.S tax credits. The EV price war in China was triggered by Tesla's price cuts in China. Market watchers predict that China's EV giant BYDDF (BYDDF), and the startups Li Auto, Nio (NIO), and XPeng(XPEV), will also report March and Q1 sales this weekend. The stock of Tesla is nearing a bottoming point. Li Auto is nearing an early entry.

U.S. Auto Sales Seems to Be Increasing

The first quarter saw an increase in U.S. car sales due to rising inventories and fleet sales. This offsets high prices and high auto loan rates. The Q1 sales pace was likely to have reached 15 million units. Analysts at Cox Automotive stated that this would increase sales by more than 6% over a year ago. According to Street, General Motors (GM), will be the best-selling vehicle in Q1. Analysts see sales increasing by 15.3% over Q1 2022, but falling by 5.1% over Q4 2022. Ford (F) saw sales rise, but Stellantis and Toyota Motor (TM), are likely to see significant sales declines. Tesla (TSLA), which has a 5% share, is expected to be the luxury top seller.

Food Giants Make Big Earnings

Earnings at Conagra Brands, (CAG), are expected to increase for the fourth consecutive quarter. The consensus is for a 10% increase to 64c per share in the packaged food giant's fiscal third quarter results on Wednesday. Revenues are expected to rise 5.7% to $3.08 trillion. Thursday's Q3 results will be announced by Lamb Weston (LW), a food processor. Analysts anticipate earnings to rise for the fifth consecutive quarter. They will climb 36% to 99c per share, while revenue grows 16.5% to $1.16billion. After the December breakout, shares are close to the profit-taking zone.

In Brief

Lindsay (LNN), will announce the second quarter financials prior to Tuesday's market opening. Analysts predict earnings will rise 16% to $1.53 per Share, with revenue falling 3% to $193.7 Million in Q2. Wall Street expects earnings to fall in the second half of this year, despite the fact that the EPS for the irrigation and infrastructure equipment manufacturer soared 129% during Q1.

MSC Industrial Direct (MSM), reports Q2 2023 earnings on Tuesday. According to FactSet, Wall Street expects a 5% increase in EPS and a rise of 8% in sales to $934 million. Analysts project that the company's EPS growth rate will be less than 1% in fiscal 2023. However, it experienced an average EPS growth rate of 27% in fiscal 2022.

Acuity Brands' (AYI), second quarter 2023 financials will soon be released. Wall Street expects EPS to rise 6% to $2.73 and sales to grow 5% to $958 millions. Analysts expect full-year earnings to grow 7% to $13.78 per ounce.