Market Forecast for the Upcoming Week

Big week ahead! Key data: inflation (CPI, PPI), retail sales, housing starts & Fed speakers. Plus earnings from Walmart, Cisco, Alibaba & more.

Investors are gearing up for a week packed with influential economic data releases, significant earnings reports, and pivotal remarks from key Federal Reserve officials. According to the article titled What To Expect in the Markets This Week from Yahoo Finance, dated August 11, 2024, here are the key events and data points to watch.

Economic Data Releases

  • Monday, August 12: The week kicks off with the New York Fed consumer inflation expectations for July, shedding light on the inflation perceptions and future expectations of consumers.
  • Tuesday, August 13: The focus will be on the NFIB Small Business Optimism Index for July, which will provide insights into the sentiment of small business owners. The Producer Price Index (PPI) for July, an essential gauge of wholesale inflation, will also be released. Additionally, Atlanta Fed President Raphael Bostic is scheduled to deliver remarks.

Earnings Reports

  • Tuesday, August 13: Home Depot (HD) and SunLife Financial (SLF) will report their earnings. Analysts will closely scrutinize Home Depot's performance for insights into the health of the retail and housing sectors.
  • Wednesday, August 14: Technology giant Cisco Systems (CSCO) and banking behemoth UBS AG (UBS) will disclose their quarterly results.
  • Thursday, August 15: A wave of earnings reports will come from prominent companies, including Walmart (WMT), Alibaba Group (BABA), Applied Materials (AMAT), John Deere (DE), and JD.Com (JD). These reports are expected to provide a broad look at consumer spending, technology trends, and agricultural machinery demand.

Inflation Data

  • Tuesday, August 13: The Producer Price Index (PPI) for July will be in the spotlight, offering clues about wholesale inflation and potential future consumer prices.
  • Wednesday, August 14: The Consumer Price Index (CPI) for July will be released. This critical measure of consumer inflation will show whether the downward trend in consumer prices continues, a key factor for monetary policy.

Federal Reserve Remarks

Throughout the week, several Federal Reserve officials will be delivering remarks. Besides Atlanta Fed President Raphael Bostic, notable speakers include St. Louis Fed President Alberto Musalem, Philadelphia Fed President Patrick Harker, and Chicago Fed President Austan Goolsbee. Investors will be paying close attention to these statements for any signals regarding the future path of monetary policy.

Retail Sales and Housing Market

  • Thursday, August 15: Retail sales data for July will be released, following a strong report for June. This data will provide further indication of consumer spending patterns.
  • Also on Thursday, the Housing Market Index for August will be released, offering a snapshot of builder confidence in the housing market.
  • Friday, August 16: Housing starts data for July will be disclosed, shedding light on the momentum in the construction sector.

Labor Market

Thursday, August 15: Initial jobless claims data for the week ending August 10 will be released. This report will offer insights into the current state and resilience of the labor market.

Consumer Sentiment

Friday, August 16: The preliminary consumer sentiment data for August will be released. This indicator provides a measure of the overall economic confidence among consumers, which can influence spending behavior.

With such a wealth of data and significant earnings reports on deck, market participants will be closely monitoring these events to gauge the health of the economy and anticipate future trends. Stay tuned for what promises to be an action-packed week in the markets.

@WSsimplifeid

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