Jobs, consumer and manufacturing data will drive headlines in the trading week ahead as a fresh month of trade kicks off on Monday. The first week of each month is always the most packed with economic reports, with the all-important non-farm payroll data on Friday. Other key data due out include the ADP Employment Report, Jobless Claims, Motor Vehicle Sales, Same-Store Sales, Manufacturing and Non-Manufacturing PMI, ISM and Construction Spending. While the earnings calendar is light, with only 1% or 6 companies of the S&P 500 reporting. Two stocks that stand out on the earnings roster are Ambarella (AMBA) and J.M. Smucker (SJM). There has been a lot of semiconductor consolidation speculation as mature companies like Intel (INTC) and QUALCOMM (QCOM) are looking for new growth verticals. As a result the sector has seen active trading. AMBA is up 75% on the year and the options market is implying an 8.5% move following the earnings print. SJM is a consumer staples company and that is another sector where M&A is heating up, and just like the semiconductors, mature brands in this space are looking to grow via acquisition in verticals where the uptrend is. In February, SJM announced it will acquire Big Heart Pet Brands in an effort to enter the growing, $21 billion pet food and snacks category.
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