Your Trading Week Ahead — August 15th

Welcome to Your Trading Week Ahead for August 15th. Here’s what you need to know before you go…

Quick recap

Equity markets rallied last week after jobless claims fell and inflation data showed U.S. producer prices are rising at the fastest pace in a decade.

The S&P 500 reached a new all-time high of 4,468 on Friday — jumping 0.72% on the week. The Dow followed suit, closing higher by 0.87% at 35,515. The Nasdaq lagged slightly, closing the week 13 points lower at 14,822.

But where are markets going from here? Great Hill Capital’s managing member Thomas Hayes recently gave his take:

This is summer doldrums at its finest and there’s not a whole lot to do unless there’s a major headline, we’re kind of seeing the market just muddle along here.

We’ll see if that holds true. The market will be looking for those headlines when the Fed meets at the Jackson Hole Economic Symposium later this month. However, much of the drama associated with the meeting may have recently dissipated following key inflation data and recent comments from Fed leaders.

What to watch this week

Earnings roundup

We’ve already heard from many of the big names this earnings cycle. But there are plenty of popular stocks still left to report.

Here’s some of the most noteworthy reports to keep an eye on this week:

• Monday – Roblox ($RBLX), Danimer Scientific ($DNMR) after market close
• Tuesday – Walmart ($WMT), Home Depot ($HD) before market open; Krispy Kreme ($DNUT) after market close
• Wednesday – Target ($TGT), Lowe’s ($LOW), The TJX Companies ($TJX) before market open; Robinhood Markets ($HOOD), Nvidia ($NVDA), Cisco Systems ($CSCO), Victoria’s Secret & Co. ($VSCO) after market close
• Thursday – Estee Lauder ($EL), Tapestry Inc. ($TPR), Kohl’s ($KSS), Macy’s ($M) before market open; Applied Materials ($AMAT) after market close
• Friday – Deere & Co. ($DE), Foot Locker ($FL) before market open

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• Empire State manufacturing index (August) – Monday at 8:30am ET
• Retail sales (July) – Tuesday at 8:30am ET
• Industrial production (July) – Tuesday at 9:15am ET
• Business inventories (June) – Tuesday at 10am ET
• NAHB home builders index (August) – Tuesday at 10am ET
• Building permits and housing starts (July) – Wednesday at 8:30am ET
• FOMC meeting minutes – Wednesday at 2pm ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Philadelphia Fed manufacturing index (August) – Thursday at 8:30am ET
• Leading index (July) – Thursday at 10am ET

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