Monday August 22, 2022: $167.57 -($3.95) -(2.30%)
Aug 22, 2022 0:44:05 GMT -8
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Post by Dave on Aug 22, 2022 0:44:05 GMT -8
Welcome to a new week. Our pre-market is red at -1.48% at this moment. Okay, here we go. “Keep all hands and feet inside of the car at all times.”
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, August 22
Palo Alto Networks (PANW), Zoom Video Communications (ZM), Nordson Corp. (NDSN), and Legend Biotech (LEGN) report earnings
Chicago Fed National Activity Index (July)
Tuesday, August 23
Intuit Inc. (INTU), Medtronic (MDT), JD.com (JD), Bank of Nova Scotia (BNS), Pinduoduo (PDD), J.M. Smucker Company (SJM), Advance Auto Parts (AAP), Dick’s Sporting Goods (DKS), Aluminum Corp. of China (ACH), Toll Brothers (TOL), Macy’s (M), Nordstrom (JWN), Urban Outfitters (URBN), and La-Z-Boy Inc. (LZB) report earnings
S&P Global Composite PMI - Flash Estimate (Aug)
Richmond Fed Manufacturing Index (Aug)
New Home Sales (July)
Wednesday, August 24
NVIDIA (NVDA), Salesforce (CRM), Royal Bank of Canada (RY), Snowflake Inc. (SNOW), Autodesk (ADSK), China Life Insurance Company (LFC), NetApp (NTAP), Williams Sonoma (WSM), and Petco (WOOF) report earnings
Durable Goods Orders (July)
Pending Home Sales (July)
Thursday, August 25
TD Bank (TD), PetroChina Company (PTR), Dollar General (DG), Vmware (VMW), Marvel Technology (MRVL), Dollar Tree (DLTR), Dell (DELL), Ulta Beauty (ULTA), Grab Holdings (GRAB), Burlington Stores Inc. (BURL), Gap Inc. (GPS), Peloton Interactive (PTON), and Abercrombie & Fitch (ANF) report earnings
U.S. GDP Growth Rate - Second Estimate (Q2 2022)
Real Consumer Spending (Q2 2022)
Kansas Fed Composite Index (Aug)
Day 1 of Federal Reserve’s annual Jackson Hole Symposium
Friday, August 26
Personal Income and Spending (July)
PCE Price Index (July)
Goods Trade Balance (July)
Michigan Consumer Sentiment Index - Final (Aug)
Day 2 of Federal Reserve’s annual Jackson Hole Symposium
Federal Reserve's Annual Jackson Hole Symposium
Beginning on Thursday, the nation’s top central bank officials will gather at the Federal Reserve’s annual Jackson Hole Symposium, hosted by the Federal Reserve Bank of Kansas City. Held annually in Jackson Hole, Wyoming since 1981, the symposium brings together prominent central bankers, economists, finance ministers, and market participants from around the world to discuss the most prescient issues impacting the economy and affecting monetary policy. This year’s symposium is titled “Reassessing Constraints on the Economy and Policy,” as discussions will likely focus on the impact of recent rate hikes, recession risks, and the Fed’s desire to achieve a soft landing with its efforts to cool inflation, currently running near 40-year highs. Market watchers will pay close attention to Fed Chair Jerome Powell’s speeches at the symposium for further insights regarding the direction of monetary policy in the near term.
Key Inflation Measure to be Released
On Friday, the Bureau of Economic Analysis (BEA) is scheduled to release the latest Personal Consumption Expenditures (PCE) Price Index, for July. The PCE Price Index measures changes in the prices of goods and services used for household consumption, and is the Federal Reserve’s preferred inflation gauge. PCE price inflation is projected to have moderated slightly in July, following a 1.0% increase in June that marked the largest monthly jump since September of 2005. On an annual basis, PCE prices accelerated 6.8% in June, marking the fastest annual gain since January 1982. Meanwhile, core PCE prices, which exclude food and energy costs, are projected to have risen at a 4.7% annual rate in July, decelerating slightly from 4.8% in June.
Monday, August 22
Palo Alto Networks (PANW), Zoom Video Communications (ZM), Nordson Corp. (NDSN), and Legend Biotech (LEGN) report earnings
Chicago Fed National Activity Index (July)
Tuesday, August 23
Intuit Inc. (INTU), Medtronic (MDT), JD.com (JD), Bank of Nova Scotia (BNS), Pinduoduo (PDD), J.M. Smucker Company (SJM), Advance Auto Parts (AAP), Dick’s Sporting Goods (DKS), Aluminum Corp. of China (ACH), Toll Brothers (TOL), Macy’s (M), Nordstrom (JWN), Urban Outfitters (URBN), and La-Z-Boy Inc. (LZB) report earnings
S&P Global Composite PMI - Flash Estimate (Aug)
Richmond Fed Manufacturing Index (Aug)
New Home Sales (July)
Wednesday, August 24
NVIDIA (NVDA), Salesforce (CRM), Royal Bank of Canada (RY), Snowflake Inc. (SNOW), Autodesk (ADSK), China Life Insurance Company (LFC), NetApp (NTAP), Williams Sonoma (WSM), and Petco (WOOF) report earnings
Durable Goods Orders (July)
Pending Home Sales (July)
Thursday, August 25
TD Bank (TD), PetroChina Company (PTR), Dollar General (DG), Vmware (VMW), Marvel Technology (MRVL), Dollar Tree (DLTR), Dell (DELL), Ulta Beauty (ULTA), Grab Holdings (GRAB), Burlington Stores Inc. (BURL), Gap Inc. (GPS), Peloton Interactive (PTON), and Abercrombie & Fitch (ANF) report earnings
U.S. GDP Growth Rate - Second Estimate (Q2 2022)
Real Consumer Spending (Q2 2022)
Kansas Fed Composite Index (Aug)
Day 1 of Federal Reserve’s annual Jackson Hole Symposium
Friday, August 26
Personal Income and Spending (July)
PCE Price Index (July)
Goods Trade Balance (July)
Michigan Consumer Sentiment Index - Final (Aug)
Day 2 of Federal Reserve’s annual Jackson Hole Symposium
Federal Reserve's Annual Jackson Hole Symposium
Beginning on Thursday, the nation’s top central bank officials will gather at the Federal Reserve’s annual Jackson Hole Symposium, hosted by the Federal Reserve Bank of Kansas City. Held annually in Jackson Hole, Wyoming since 1981, the symposium brings together prominent central bankers, economists, finance ministers, and market participants from around the world to discuss the most prescient issues impacting the economy and affecting monetary policy. This year’s symposium is titled “Reassessing Constraints on the Economy and Policy,” as discussions will likely focus on the impact of recent rate hikes, recession risks, and the Fed’s desire to achieve a soft landing with its efforts to cool inflation, currently running near 40-year highs. Market watchers will pay close attention to Fed Chair Jerome Powell’s speeches at the symposium for further insights regarding the direction of monetary policy in the near term.
Key Inflation Measure to be Released
On Friday, the Bureau of Economic Analysis (BEA) is scheduled to release the latest Personal Consumption Expenditures (PCE) Price Index, for July. The PCE Price Index measures changes in the prices of goods and services used for household consumption, and is the Federal Reserve’s preferred inflation gauge. PCE price inflation is projected to have moderated slightly in July, following a 1.0% increase in June that marked the largest monthly jump since September of 2005. On an annual basis, PCE prices accelerated 6.8% in June, marking the fastest annual gain since January 1982. Meanwhile, core PCE prices, which exclude food and energy costs, are projected to have risen at a 4.7% annual rate in July, decelerating slightly from 4.8% in June.