Stock Market Week Ahead — Fed’s Bullard, Ford Day and US Manufacturing

Highlights

• Hawkish monetary policymaker James Bullard will weigh in on inflation and rates.
• Ford will host a capital markets day and reveal details on its ambitious EV roadmap.
• Manufacturing data will also be released.

Investors are bracing for another big week of economic data that could deliver even more volatility to the markets. On the docket includes comments from one of the Fed’s most hawkish policymakers, Ford’s capital markets day and manufacturing data.

Fed’s Bullard

James Bullard, president of the St. Louis Fed, is among the monetary policymakers expected to weigh in on the economy this week. His comments, which will come on Monday, are likely to reflect his hawkish side. Bullard recently suggested that further rate hikes would serve as an insurance policy against high inflation. However, he’s also willing to keep an open mind. 

Ford Capital Markets Day

Big automaker Ford Motor will host a capital markets day on Monday where it will reveal progress on its goals. Among them, investors will be listening for an update on Ford’s electric vehicle (EV) goals, which Wall Street analysts believe are too ambitious and “crazy high.” 

Ford is targeting an EBIT margin of 8% on its EV business and an EV production run rate of 2 million vehicles in the next three years. This compares with a forecast for 600,000 vehicles by the end of this year. 

Ford CEO Jim Farley promised to explain how the company plans to achieve this at this week’s event, dubbed “Delivering Ford+.” The automaker is likely to share its profit roadmap for its commercial and EV divisions.  

Investors can also expect to also get a glimpse into the company’s battery products, which are fueling Ford’s EV division aspirations.  Ford’s EV division is on track for a loss of $3 billion in 2023.

Manufacturing Data

Durable goods results for April are set to be released on Friday following a better-than-expected reading of 3.2% in March. The reading will provide a gauge of inflation and whether the trend of easing is continuing.