What will drive the markets this week?
Global stocks finished mixed last week, with American, European, and Asian (Chinese) indices registering losses for the week.
This week, investors will focus on a slew of economic reports around manufacturing, home sales, and the Federal Reserve’s Jackson Hole symposium.
In Europe, the focus will be on the EA Markit Manufacturing PMI Flash report for August which will provide an indication of the state of manufacturing in the eurozone amid rising COVID-19 cases and supply chain disruptions.
In the US, the focus will be on the housing market with the release of the report on existing home sales for July and new home sales numbers. Other reports include the weekly jobs report and personal spending and inflation expectations figures for July released on Thursday and Friday respectfully.
Meanwhile, the Federal Reserve’s annual Jackson Hole Economic Symposium in Wyoming will discuss these reports as they set a path forward for monetary policy and recovery.
Monday, August 23:
- EA Markit Manufacturing PMI Flash Report (August).
- EA Consumer Confidence Flash Report (August).
- U.S. Markit Composite PMI Flash Report (August).
- U.S. Existing Home Sales (July).
Tuesday, August 24:
- U.S. New Home Sales (July).
- Earnings: Best Buy and Pinduoduo.
Wednesday, August 25:
- U.S. Durable Goods Orders (July).
- China Industrial Profits (July).
- Earnings: Dick’s Sporting Goods.
Thursday, August 26:
- U.S. Weekly Jobless Claims.
- EA Loans to Households and Companies (July).
- Earnings: J.M. Smucker, Sanderson Farms, Movado Group, Dollar General, Dollar Tree, and XPeng.
Friday, August 27:
- U.S. Personal Income and Spending (July).
- U.S. PCE Price Index (July).
- Earnings: Sinovac Biotech and Kanzhun.
- The U.S. Federal Reserve hosts its annual Jackson Hole Economic Symposium in Wyoming.