Economy and Markets: The Week Ahead
The U.S. economy is showing signs of easing inflation with the Consumer Price Index (CPI) coming in lower than anticipated. Markets are certainly hoping for an interest rate pause at the Federal Open Market Committee (FOMC) meeting scheduled for September 19-20. As the second quarter earnings season takes a back seat, markets will likely have a milder trading week ahead in terms of volatility. Also, on the economic front, not many economically significant reports are scheduled for the week ahead.
A majority of the S&P 500 (SPX) companies have already reported earnings for Q2 Fiscal 2023. As per FactSet, roughly 75% of these companies surpassed Wall Street’s expectations.
In the absence of certainty about the economy’s direction, investors are advised to base their decisions on trustworthy data and analysis.
Upcoming Earnings and Dividend Announcements
More than 90% of S&P 500 companies have reported earnings so far this season. With fewer companies reporting results in the week beginning August 14, we expect little volatility in the markets.
The week will be marked by the earnings releases from the American big box retailers including Home Depot (HD), Target (TGT), Walmart (WMT), TJX Companies (TJX), and Ross Stores (ROST). In addition, there will be several important reports coming from companies in different sectors such as Cisco (CSCO), Deere (DE), Palo Alto Networks (PANW), Monday.com (MNDY), Getty Images (GETY), Hut 8 Mining (HUT), Canoo (GOEV), and Zim Integrated (ZIM) among others. We will also see the results of a few Chinese companies namely JD.com (JD), XPeng (XPEV), and Tencent Music Entertainment (TME).
Companies’ reporting dates, consensus EPS forecasts, past data, analyst ratings, and price targets can be found on the TipRanks Earnings Calendar.
This week, Ex-Dividend dates are coming for the payouts from Eli Lilly (LLY), Fat Brands (FAT), Enbridge (ENB), Exxon Mobil (XOM), ConocoPhillips (COP), Target (TGT), Genco Shipping (GNK), Microsoft (MSFT), Chevron (CVX), Amgen (AMGN), Icahn Enterprises (IEP), and Walgreens Boots Alliance (WBA), among others.
Companies’ Ex-Dividend and Dividend Payment dates, analyst ratings, and price targets can be found on the TipRanks Dividend Calendar.
Upcoming Economic Calendar Events
There are several economically significant reports scheduled to be published in the next few days:
» On Tuesday, August 15, we’ll receive the advance estimates of the U.S. Retail and Food Services Sales report for July 2023. The report provides meaningful insight into consumer spending habits as it measures the month-on-month change in total receipts of retail sales.
» On Wednesday, we will see data on MBA Mortgage Applications, Housing Starts, and Building Permits for July. Plus, we will receive data on Industrial Production and Manufacturing Output for July.
» On Thursday, we will see data on the Initial Jobless Claims for the week ending August 12. The report indicates the number of individuals who filed for unemployment benefits for the first time during a given week. The report reflects the health of the U.S. job market and the overall economy.
Current and scheduled economic reports, Fed statements, and other releases, as well as their level of impact on stock markets, can be found on the TipRanks Economic Calendar.