Monday August 1, 2022: $161.51 -($1.00) -(0.62%)
Aug 1, 2022 0:50:33 GMT -8
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Post by Dave on Aug 1, 2022 0:50:33 GMT -8
Good morning and welcome to August. Will last week’s rally continue, stall for a while or retract and drop? This mornings pre-market is red at -0.41% at this moment.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, August 1
HSBC (HSBC), Activision Blizzard (ATVI), Devon Energy Corp (DVN), Aflac (AFL), SBA Communications Corp (SBAC), On Semiconductor (ON), Monolithic Power Systems (MPWR), and Mosaic Company (MOS) report earnings.
U.S. S&P Manufacturing PMI, Final (July)
U.S. ISM Manufacturing Index (July)
Construction Spending (May)
Tuesday, August 2
Advanced Micro Devices (AMD), S&P Global (SPGI), Starbucks Corporation (SBUX), Caterpillar (CAT), PayPal (PYPL), Gilead Sciences (GILD), Airbnb (ABNB), Occidental Petroleum Corporation (OXY), Diamondback Energy (FANG), Marriott International (MAR), Marathon Petroleum Corporation (MPC), and Uber Technologies (UBER) report earnings.
JOLTS (June)
U.S. Vehicle Sales (July)
China Caixin Services and Composite PMI (July)
Wednesday, August 3
CVS Health Corporation (CVS), Booking Holdings (BKNG), Moderna (MRNA), Regeneron Pharmaceuticals (REGN), Metlife (MET), Fortinet (FTNT), Honda Motor Company (HMC), Yum! Brands (YUM), Lucid Group (LCID), Allstate Corporation (ALL), eBay (EBAY), Albemarle Corporation (ALB), and The Clorox Company (CLX) report earnings.
OPEC meeting
U.S. ISM Services Index
U.S. Factory Orders
EA Retail Sales (June)
Thursday, August 4
Eli Lilly (LLY), Alibaba Group (BABA), Amgen (AMGN), ConocoPhillips (COP), Marathon Oil Corporation (MRO), Warner Bros. Discovery (WBD), Cigna Corporation (CI), Duke Energy Corporation (DUK), Intercontinental Exchange (ICE), Thomson Reuters (TRI), and Atlassian (TEAM) report earnings.
Bank of England Decision on Interest Rates
Friday, August 5
Western Digital Corporation (WDC), Liberty Media Corp (FWONK), EOG Resources (EOG), and DraftKings (DKNG) report earnings.
Nonfarm Payrolls (July)
Labor Market Moves
Labor Department reports due next week could offer a glimpse of how the Fed's interest rate hikes are impacting jobs. Tuesday’s job openings and labor turnover survey (JOLTS) will show whether the job market remained tight in June, with 11 million job openings expected after 11.3 million the month before. Friday’s nonfarm payrolls report will also show whether employers kept hiring in July after 372,000 jobs were added in June, or whether economic uncertainty pushed them to scale back. With unemployment relatively low and wages gaining in what has remained a tight labor market so far, continued strength would support the Fed’s stance that the economy should be strong enough to handle rising rates. On the flip side, signs of weakening could point to tougher times ahead.
Energy Earnings
While companies from a wide range of industries are expected to report next week, the energy sector could prove to be a standout following record profits from ExxonMobil, Chevron, and Shell on the back of soaring oil prices. Oil and gas companies reporting next week will include Diamondback Energy, Marathon Petroleum, Occidental Petroleum, Devon Energy, Duke Energy and EOG Resources. On Wednesday, OPEC+ will also meet to discuss oil production quotas, with some members reportedly considering raising output as the U.S. exerts pressure to raise quotas and drive down prices.
Monday, August 1
HSBC (HSBC), Activision Blizzard (ATVI), Devon Energy Corp (DVN), Aflac (AFL), SBA Communications Corp (SBAC), On Semiconductor (ON), Monolithic Power Systems (MPWR), and Mosaic Company (MOS) report earnings.
U.S. S&P Manufacturing PMI, Final (July)
U.S. ISM Manufacturing Index (July)
Construction Spending (May)
Tuesday, August 2
Advanced Micro Devices (AMD), S&P Global (SPGI), Starbucks Corporation (SBUX), Caterpillar (CAT), PayPal (PYPL), Gilead Sciences (GILD), Airbnb (ABNB), Occidental Petroleum Corporation (OXY), Diamondback Energy (FANG), Marriott International (MAR), Marathon Petroleum Corporation (MPC), and Uber Technologies (UBER) report earnings.
JOLTS (June)
U.S. Vehicle Sales (July)
China Caixin Services and Composite PMI (July)
Wednesday, August 3
CVS Health Corporation (CVS), Booking Holdings (BKNG), Moderna (MRNA), Regeneron Pharmaceuticals (REGN), Metlife (MET), Fortinet (FTNT), Honda Motor Company (HMC), Yum! Brands (YUM), Lucid Group (LCID), Allstate Corporation (ALL), eBay (EBAY), Albemarle Corporation (ALB), and The Clorox Company (CLX) report earnings.
OPEC meeting
U.S. ISM Services Index
U.S. Factory Orders
EA Retail Sales (June)
Thursday, August 4
Eli Lilly (LLY), Alibaba Group (BABA), Amgen (AMGN), ConocoPhillips (COP), Marathon Oil Corporation (MRO), Warner Bros. Discovery (WBD), Cigna Corporation (CI), Duke Energy Corporation (DUK), Intercontinental Exchange (ICE), Thomson Reuters (TRI), and Atlassian (TEAM) report earnings.
Bank of England Decision on Interest Rates
Friday, August 5
Western Digital Corporation (WDC), Liberty Media Corp (FWONK), EOG Resources (EOG), and DraftKings (DKNG) report earnings.
Nonfarm Payrolls (July)
Labor Market Moves
Labor Department reports due next week could offer a glimpse of how the Fed's interest rate hikes are impacting jobs. Tuesday’s job openings and labor turnover survey (JOLTS) will show whether the job market remained tight in June, with 11 million job openings expected after 11.3 million the month before. Friday’s nonfarm payrolls report will also show whether employers kept hiring in July after 372,000 jobs were added in June, or whether economic uncertainty pushed them to scale back. With unemployment relatively low and wages gaining in what has remained a tight labor market so far, continued strength would support the Fed’s stance that the economy should be strong enough to handle rising rates. On the flip side, signs of weakening could point to tougher times ahead.
Energy Earnings
While companies from a wide range of industries are expected to report next week, the energy sector could prove to be a standout following record profits from ExxonMobil, Chevron, and Shell on the back of soaring oil prices. Oil and gas companies reporting next week will include Diamondback Energy, Marathon Petroleum, Occidental Petroleum, Devon Energy, Duke Energy and EOG Resources. On Wednesday, OPEC+ will also meet to discuss oil production quotas, with some members reportedly considering raising output as the U.S. exerts pressure to raise quotas and drive down prices.