NEW YORK (CNN/Money) -
Wall Street will find ways to keep up the bullish momentum Tuesday as the rest of the week is jammed with market-moving figures like consumer confidence, factory orders, vehicle sales and, most importantly, a jobs report.
After the closing bell Monday, shares of California Pizza Kitchen (CPKI: Research, Estimates) climbed more than 4 percent after the restaurant chain raised its earnings forecast and said same-store sales rose 6.2 percent in the first quarter.
Its shares climbed to $20.45 on the INET electronic brokerage system from $19.55 at its close on Nasdaq.
Separately, Kraft Foods Inc. (KFT: Research, Estimates) said it plans to acquire privately-held beverage maker Veryfine Products Inc., but the largest North American food maker refused to disclose terms of the purchase.
Veryfine, based in Littleton, Mass., had 2003 net sales of more than $150 million, led by Fruit2O, the No. 1 flavored water in the United States, Kraft said.
On the economic front, the Conference Board will release the results of its monthly survey on consumer confidence at 10 a.m. ET Tuesday. Wednesday, the Commerce Department will report on factory orders for February.
|
YOUR E-MAIL ALERTS
|
Follow the news that matters to you. Create your own alert to be notified on topics you're interested in.
Or, visit Popular Alerts for suggestions.
|
|
|
Major automakers will also get into the action Thursday as they report sales for March. The Institute for Supply Management will then release its manufacturing report for March. The Labor Department will also issue its weekly jobless report.
Yet, in a market obsessed with the state of the labor market, these figures will be overshadowed by Friday's monthly payrolls numbers. Median forecasts are for a modest 103,000 rise in March following February's meager gain of 21,000.
The dismal state of the jobs market is seen as the major factor holding back a rate hike from the Federal Reserve, so any hint of a revival in employment could help or demolish optimism in stocks.
-- Reuters contributed to the story
|