Monday August 8, 2022: $164.87 -($0.48) -(0.29%)
Aug 8, 2022 1:24:06 GMT -8
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Post by Dave on Aug 8, 2022 1:24:06 GMT -8
Hello Monday. This week is off to a good start with a green pre-market at +0.39%. Let’s see how this week plays out.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, August 8
Dominion Energy (D), AIG (AIG), BioNTech (BNTX), Tyson Foods (TSN), Barrick Gold (GOLD), Palantir Technologies (PLTR), and News Corporation (NWS), Novavax (NVAX), Acadia Pharmaceuticals (ACAD), and Primerica (PRI) report earnings
Consumer Inflation Expectations (July)
Tuesday, August 9
Emerson Electric (EMR), Sysco (SYY), Welltower (WELL), Roblox (RBLX), Coinbase (COIN), Warner Music Group (WMG), XP (XP), Hyatt Hotels (H), Wynn Resorts (WYNN), Ralph Lauren (RL), Planet Fitness (PLNT), IAC/InterActiveCorp (IAC), H&R Block (HRB), Norwegian Cruise Line (NCLH), and iRobot Corp. (IRBT) report earnings
NFIB Business Optimism Index (July)
IBD/TIPP Economic Optimism Index (Aug)
Wednesday, August 10
Disney (DIS), Manulife Financial (MFC), Fox Corporation (FOXA), Wendy’s (WEN), Bumble (BMBL), and Pan American Silver (PAAS) report earnings
Consumer Price Index (CPI) Inflation Rate (July)
Wholesale Inventories (June)
Thursday, August 11
Brookfield Asset Management (BAM), Baidu (BIDU), Illumina (ILMN), Rivian Automotive (RIVN), Aegon (AEG), and Dillard’s (DDS) report earnings
Producer Price Index (PPI) Inflation Rate (July)
Friday, August 12
Broadridge Financial Solutions (BR) and Spectrum Brands (SPB) report earnings
Import and Export Prices (July)
Michigan Consumer Sentiment Index - Preliminary Reading (Aug)
U.K. GDP Growth Rate - Preliminary Estimate (Q2 2022)
Fresh Inflation Reports
On Wednesday, the Bureau of Labor Statistics (BLS) will release its July Consumer Price Index (CPI), providing an important update on whether prices continued to rise after the annual rate of consumer inflation hit a 40-year high of 9.1% in June. Price growth is expected to have decelerated in July, with prices rising 0.2% compared to a 1.3% gain in June—the highest monthly increase since 2005. The annual rate of inflation is also expected to slow to 8.7%. The core inflation rate, which strips away the volatile price categories of food and energy, is projected to rise slightly to 6.1%, likely reflecting rising food prices. Prices for gasoline and other energy products have fallen in recent weeks from their peak levels in mid-June, which will likely be reflected in the lower headline inflation figures.
On Thursday, the BLS will also release the July update to its Producer Price Index (PPI), which gauges inflation from the standpoint of producers and retailers. Producer prices previously rose 1.1% in June, accelerating to an annual rate of 11.3%. Annual PPI inflation is projected to accelerate further to 11.4%, just below a recent high of 11.5% recorded in March.
Consumer Sentiment Update
On Friday, market watchers can expect an important update tracking consumer confidence, as the University of Michigan will release the preliminary August reading of its Consumer Sentiment Index (MCSI). The index reading is projected to rise to 52.2, from 51.5 recorded in late July. Consumer sentiment as tracked by the MCSI previously fell to a record low of 50 in June before rebounding slightly last month. Rising inflation, declining purchasing power, and a deteriorating economic outlook—including the prospect of a recession—have caused consumer sentiment to fall precipitously in 2022 so far.
Monday, August 8
Dominion Energy (D), AIG (AIG), BioNTech (BNTX), Tyson Foods (TSN), Barrick Gold (GOLD), Palantir Technologies (PLTR), and News Corporation (NWS), Novavax (NVAX), Acadia Pharmaceuticals (ACAD), and Primerica (PRI) report earnings
Consumer Inflation Expectations (July)
Tuesday, August 9
Emerson Electric (EMR), Sysco (SYY), Welltower (WELL), Roblox (RBLX), Coinbase (COIN), Warner Music Group (WMG), XP (XP), Hyatt Hotels (H), Wynn Resorts (WYNN), Ralph Lauren (RL), Planet Fitness (PLNT), IAC/InterActiveCorp (IAC), H&R Block (HRB), Norwegian Cruise Line (NCLH), and iRobot Corp. (IRBT) report earnings
NFIB Business Optimism Index (July)
IBD/TIPP Economic Optimism Index (Aug)
Wednesday, August 10
Disney (DIS), Manulife Financial (MFC), Fox Corporation (FOXA), Wendy’s (WEN), Bumble (BMBL), and Pan American Silver (PAAS) report earnings
Consumer Price Index (CPI) Inflation Rate (July)
Wholesale Inventories (June)
Thursday, August 11
Brookfield Asset Management (BAM), Baidu (BIDU), Illumina (ILMN), Rivian Automotive (RIVN), Aegon (AEG), and Dillard’s (DDS) report earnings
Producer Price Index (PPI) Inflation Rate (July)
Friday, August 12
Broadridge Financial Solutions (BR) and Spectrum Brands (SPB) report earnings
Import and Export Prices (July)
Michigan Consumer Sentiment Index - Preliminary Reading (Aug)
U.K. GDP Growth Rate - Preliminary Estimate (Q2 2022)
Fresh Inflation Reports
On Wednesday, the Bureau of Labor Statistics (BLS) will release its July Consumer Price Index (CPI), providing an important update on whether prices continued to rise after the annual rate of consumer inflation hit a 40-year high of 9.1% in June. Price growth is expected to have decelerated in July, with prices rising 0.2% compared to a 1.3% gain in June—the highest monthly increase since 2005. The annual rate of inflation is also expected to slow to 8.7%. The core inflation rate, which strips away the volatile price categories of food and energy, is projected to rise slightly to 6.1%, likely reflecting rising food prices. Prices for gasoline and other energy products have fallen in recent weeks from their peak levels in mid-June, which will likely be reflected in the lower headline inflation figures.
On Thursday, the BLS will also release the July update to its Producer Price Index (PPI), which gauges inflation from the standpoint of producers and retailers. Producer prices previously rose 1.1% in June, accelerating to an annual rate of 11.3%. Annual PPI inflation is projected to accelerate further to 11.4%, just below a recent high of 11.5% recorded in March.
Consumer Sentiment Update
On Friday, market watchers can expect an important update tracking consumer confidence, as the University of Michigan will release the preliminary August reading of its Consumer Sentiment Index (MCSI). The index reading is projected to rise to 52.2, from 51.5 recorded in late July. Consumer sentiment as tracked by the MCSI previously fell to a record low of 50 in June before rebounding slightly last month. Rising inflation, declining purchasing power, and a deteriorating economic outlook—including the prospect of a recession—have caused consumer sentiment to fall precipitously in 2022 so far.