The majority of second-quarter earnings season is over, with a handful of major technology and retail names left to report this week. Economists will be focused on any news from an annual gathering of monetary policy thinkers and practitioners in Jackson Hole, Wyoming.
Lowe’s
will report on Tuesday, followed by a busy Wednesday:
Nvidia,
NetApp,
Advance Auto Parts,
Bath & Body Works,
and
Analog Devices
are all on the schedule. On Thursday,
Dollar Tree,
Intuit,
and
Ulta Beauty
will be the highlights.
The Federal Reserve Bank of Kansas City will host its 2023 Economic Policy Symposium from Thursday through Saturday. This year’s topic will be “Structural Shifts in the Global Economy.” Fed chair Jerome Powell is scheduled to address the conference on Friday.
Economic data out this week will include Markit’s manufacturing and services purchasing managers’ indexes for August on Wednesday. Both are expected to tick down from their July levels.
Other releases will include the National Association of Realtors’ existing-home sales for July on Tuesday, new-home sales data for July on Wednesday, the Census Bureau’s durable goods report for July on Thursday, and the University of Michigan’s Consumer Sentiment index for August on Friday.
Monday, 8/21
Zoom Video
is expected to release quarterly earnings.
Tuesday, 8/22
Lowe’s,
Macy’s,
Dick’s Sporting Goods,
Urban Outfitters,
Toll Brothers,
Baidu, and
Medtronic
announce quarterly results, according to FactSet.
The National Association of Realtors reports existing-home sales for July.
Wednesday, 8/23
Nvidia announces the results of its fiscal second quarter after the market closes on Wednesday. Analysts surveyed by FactSet expect the chip company to report earnings per share of $2.08 compared to earnings per share of 51 cents from the year-ago quarter. Shares of Nvidia have tripled this year.
Peloton Interactive,
Snowflake,
Abercrombie & Fitch,
Advance Auto Parts,
Analog Devices,
Foot Locker,
Kohl’s,
Autodesk,
Bath & Body Works, and
Williams-Sonoma
are expected to announce earnings.
The Census Bureau and Department of Housing and Urban Development release new-home sales for July.
Thursday, 8/24
Dozens of central bankers, policymakers, academics, and economists descend on Jackson Hole, Wyo., this week for the Federal Reserve Bank of Kansas City’s annual economic policy symposium. The event will kick off on Thursday and Fed Chairman Jerome Powell will speak on Friday.
Intuit, Dollar Tree,
Affirm Holdings,
Gap,
Burlington Stores,
Nordstrom,
Ulta Beauty,
and Workday are expected to release earnings.
The Census Bureau releases its durable goods report for July.
Friday, 8/25
The University of Michigan releases the final results for its August survey of consumers on Friday. Economists surveyed by FactSet expect the consumer sentiment index to remain at 71.2, essentially unchanged from July. Over the past three months, consumers have become much more optimistic about the economy.
Write to Nicholas Jasinski at [email protected]
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