Textual content dimension
Earnings season continues subsequent week in what shall be an action-packed stretch for retail shares.
Walmart
and
Residence Depot
report outcomes on Tuesday, adopted by
Bathtub & Physique Works
,
Lowe’s, Goal, and
TJX
on Wednesday.
Ross Shops
wraps issues up for the retailers on Thursday.
On Wednesday, the Census Bureau additionally stories retail gross sales knowledge for July. Client spending is anticipated to extend 0.2% month over month. Excluding autos, retail gross sales are seen as being flat.
In non-retail information,
Agilent Applied sciences
stories on Tuesday, adopted by
Amcor
,
Cisco
Programs,
Keysight Applied sciences
,
and
Synopsys
on Wednesday.
Estée Lauder
,
and
Tapestry
observe issues up on Thursday.
Deere
closes out the week with outcomes due Friday.
Buyers will get a triple-dose of housing knowledge this week. On Monday, the Nationwide Affiliation of Residence Builders releases its Housing Market Index for August. The consensus estimate is for a 53 studying, in comparison with July’s 55. On Tuesday, the Census Bureau stories new residential knowledge for July. Economists forecast a seasonally adjusted annual fee of 1.53 million new housing begins, about 30,000 fewer than in June. On Thursday, the Nationwide Affiliation of Realtors stories existing-home gross sales for July. Expectations are for a seasonally adjusted annual fee of 4.85 million houses offered.
Financial knowledge out contains the Federal Reserve Financial institution of New York’s Empire State Manufacturing Survey for August on Monday. Expectations are for a 5 studying, six factors fewer than in July. On Thursday, the Convention Board releases its Main Financial Index for July. Consensus estimate is for a 0.3% month-over-month decline, after a 0.8% drop in June.
Monday 8/15
The Nationwide Affiliation of Residence Builders releases its Housing Market Index for August. Consensus estimate is for a 53 studying, barely lower than July’s 55. Not solely has the index declined each month this yr, however July’s 12-point drop additionally was the second steepest within the index’s historical past. Residence builders say that affordability, manufacturing bottlenecks, and rising inflation are market headwinds.
The Federal Reserve Financial institution of New York releases its Empire State Manufacturing Survey for August. Expectations are for a 5 studying, six factors fewer than in July.
Tuesday 8/16
Walmart stories second-quarter fiscal-2023 outcomes. The corporate’s shares fell 11.4% after its earlier earnings report in Could, when it slashed revenue forecasts. It was the most important single-day decline for the inventory since October 1987.
Agilent Applied sciences and Residence Depot report quarterly outcomes.
The Census Bureau stories new residential knowledge for July. Economists forecast a seasonally adjusted annual fee of 1.53 million new housing begins, about 30,000 fewer than in June. Housing begins have dropped about 10% from the start of the yr.
Wednesday 8/17
Amcor, Analog Gadgets, Bathtub & Physique Works, Cisco Programs, Keysight Applied sciences, Lowe’s, Synopsys, Goal, and TJX Cos. launch earnings.
The Federal Open Market Committee releases minutes from its late July monetary-policy assembly. The FOMC raised the federal-funds fee by 75 foundation factors, to 2.25%-2.5%, at that assembly.
The Census Bureau stories retail gross sales knowledge for July. Client spending is anticipated to extend 0.2% month over month. Excluding autos, retail gross sales are seen as being flat. This compares with a 1% leap for each measures in June. The buyer has proved resilient regardless of four-decade-high inflation, bolstered by a traditionally robust jobs market.
Thursday 8/18
Utilized Supplies, Estée Lauder, Ross Shops, and Tapestry maintain convention calls to debate quarterly outcomes.
The Convention Board releases its Main Financial Index for July. Consensus estimate is for a 0.3% month-over-month decline, after a 0.8% drop in June. “The US LEI declined for a fourth consecutive month, suggesting financial progress is prone to sluggish additional within the close to time period as recession dangers develop,” based on Ataman Ozyildirim, senior director of financial analysis at The Convention Board.
The Nationwide Affiliation of Realtors stories existing-home gross sales for July. Expectations are for a seasonally adjusted annual fee of 4.85 million houses offered, 270,000 fewer than in June. Current-home gross sales have declined for 5 consecutive months.
Friday 8/19
Deere stories third-quarter fiscal-2022 outcomes.
Write to Connor Smith at connor.smith@barrons.com
