What will drive the markets this week?
Last week was yet another week of gains on Wall Street, as major indices rose on Friday to end the week in weekly gains, and a fourth straight week of gains. The Dow gained close to 3% for the week; while the Nasdaq and S&P 500 rose over 3%. European equities also rose on Friday to end the week in weekly gains, as the European healthcare sector gained 0.2%, with the STOXX 600 index rising 0.2%, up for a third straight day.
This week will perhaps be focused on earnings reports from major retailers as results from Walmart and Home Depot coming in on Tuesday. Other retailers including Lowe’s, Target, and TJX Companies will report on Wednesday, followed by Ross Stores and Kohl’s on Thursday.
In terms of reports from policymakers, the U.S. Census Bureau will release July retail sales figures on Wednesday. This report provides updates on consumer spending. Investors will also expect the latest updates on the U.S. housing market next week, with July building permits and housing starts available on Tuesday, and existing home sales on Thursday. On Wednesday, the Federal Reserve will release meeting minutes from its latest policy meeting held in July, which could offer additional insights into policymakers’ decisions.
Monday, August 15
- Li Auto (LI), Tencent (TME), ZipRecruiter (ZIP), and Compass, Inc. (COMP) report earnings
- NY Empire State Manufacturing Index (Aug)
- NAHB Housing Market Index (Aug)
Tuesday, August 16
- Walmart (WMT), Home Depot (HD), BHP Group (BHP), Sea Limited (SE), and Agilent Technologies (A) report earnings
- Building Permits (July)
- Housing Starts (July)
- Industrial Production (July)
Wednesday, August 17
- Cisco (CSCO), Lowe’s (LOW), Analog Devices (ADI), TJX Companies (TJX), Target (TGT), Synopsys (SNPS), Keysight Technologies (KEYS), Amcor (AMCR), and Bath & Body Works (BBWI) report earnings
- Retail Sales (July)
- Business Inventories (June)
- FOMC Meeting Minutes (July 26-27 FOMC Meeting)
- Euro Area GDP Growth Rate - Second Estimate (Q2 2022)
- U.K. Inflation Rate (July)
Thursday, August 18
- Estee Lauder (EL), Applied Materials (AMAT), NetEase (NTES), Ross Stores (ROST), BJ’s Wholesale Club (BJ), Tapestry, Inc. (TPR), Kohl’s Corp. (KSS), and Canadian Solar (CSIQ) report earnings
- Philadelphia Fed Manufacturing Index (Aug)
- Conference Board Leading Index (July)
- Existing Home Sales (July)
- Euro Area Inflation Rate - Final Reading (July)
Friday, August 19
- Deere & Company (DE) and Foot Locker (FL) report earnings