What will drive the markets this week?
On Friday, Wall Street closed with a mixed performance, while U.S. Treasury yields stabilized following a recent surge. Investors were in anticipation of more insights into interest rates from the Federal Reserve in the upcoming week.
In the European markets, there was a retreat in response to the cautious global sentiment. Traders were assessing the future of monetary policy, along with fresh concerns related to China’s real estate sector.
Across the Asia-Pacific region, markets declined on Friday. Investors were analyzing Japan’s July inflation data and dealing with new challenges in China’s real estate sector. Japan’s core inflation rate fell to 3.1%, a decrease from June’s 3.3%. The headline inflation rate, however, remained steady at 3.3%.
This week, we are expecting a series of earnings reports from well-known retailers. This includes Lowe’s, Macy’s, Kohl’s, Nordstrom, Dollar Tree, Dick’s Sporting Goods, Urban Outfitters, and BJ’s Wholesale Club, among others. In addition, Zoom Video Communications, Nvidia, and TD Bank will reveal their performance figures for the second quarter.
The week kicks off with the beginning of the annual Jackson Hole Economic Symposium, hosted by the Kansas City Fed. During this event, starting on Thursday, central bankers, finance ministers, and economists from around the world will come together.
Furthermore, updates on new and existing home sales for July will be shared, along with a timely evaluation of consumer sentiment.
Events expected to move the markets this week
Monday, August 21
- Zoom Video Communications (ZM), Nordson Corp. (NDSN), Fabrinet (FN), and Qifu Technology Inc. (QFIN) report earnings
Tuesday, August 22
- Lowe’s Companies (LOW), Medtronic (MDT), Baidu (BIDU), KE Holdings (BEKE), Dick’s Sporting Goods (DKS), Coty Inc. (COTY), BJ’s Wholesale Club (BJ), Toll Brothers (TOL), Macy’s (M), Urban Outfitters (URBN), and La-Z-Boy Inc. (LZB) report earnings
- Existing Home Sales (Jul)
- Richmond Fed Manufacturing Index (Aug)
Wednesday, August 23
- Nvidia (NVDA), Analog Devices Inc. (ADI), Snowflake Inc. (SNOW), Autodesk Inc. (ADSK), NetApp Inc. (NTAP), Bath & Body Works (BBWI), Williams-Sonoma (WSM), Advance Auto Parts (AAP), Kohl’s Corp. (KSS), Peloton Interactive (PTON), Foot Locker Inc. (FL), and Abercrombie & Fitch (ANF) report earnings
- S&P Global Composite PMI - Flash Estimate (Aug)
- New Home Sales (Jul)
Thursday, August 24
- Intuit Inc. (INTU), Royal Bank of Canada (RY), Toronto Dominion Bank (TD), Vmware Inc. (VMW), NetEase Inc. (NTES), Workday Inc. (WDAY), Marvell Technology (MRVL), Dollar Tree (DLTR), Ulta Beauty (ULTA), Burlington Stores (BURL), The Gap (GPS), and Nordstrom (JWN) report earnings
- Durable Goods Orders (Jul)
- Chicago Fed National Activity Index (Jul)
- Kansas Fed Manufacturing Index (Aug)
- Day 1 of Jackson Hole Economic Policy Symposium 2023
Friday, August 25
- Michigan Consumer Sentiment Index - Final Reading (Aug)
- Day 2 of Jackson Hole Economic Policy Symposium 2023