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Brick-and-mortar retailers make up the bulk of revenue reports this week. Walmart,
Home Depot,
and Kohl released their second-quarter results on Tuesday, followed by Lowe’s,
Doel, TJX,
and L Markets on Wednesday. Ross Stores reports Thursday. Non-retail names releasing results this week include Nvidia and analog devices on Wednesday, Alibaba Group Holding on Thursday, and Deere on Friday.
Friday is the record day for Tesla’s upcoming 5-for-1 stock split. The new shares will be distributed after the market closes a week later, August 28th.
The economic calendar this week includes the release of minutes from the last meeting of the Federal Reserve’s monetary policy setting committee. From Wednesday, the conversation will be closely parsed for officials’ thoughts on progress, control over yield curve and other potential new policy tools.
Economic data includes the Conference Board’s Leading Economic Index for July on Thursday, as well as a handful of housing market indicators over the week.
Investors will also look at all the market-moving developments of the Democratic National Convention. The event will be mostly virtual and run from Monday to Thursday.
Monday 8/17
JD.com,
the Chinese e-commerce company, reports financial results for the second quarter.
The Democratic National Convention begins and will run through August 20th. The event will be mostly virtual, but centrally located at the Wisconsin Center in Milwaukee.
The National Association of Home Builders publishes its August period NAHB / Wells Fargo Housing Market Index, a monthly indicator based on a survey of home builders on their perception of current and future home sales. Consensus estimates call for a 75 reading, up from the 72nd of July.
The Federal Reserve Bank of New York releases the August State Manufacturing Survey. Economists are looking for an 18-reading, up from the 17.2 reading of July.
Tuesday 8/18
Home Depot,
La-Z-Boy,
Advance Auto Parts,
Walmart, Kohl’s, and Agilent Technologies are among companies that announce quarterly results.
The US Census Bureau reports new data on housing for July. Economists predicted that housing would start at an annually adjusted annual rate of 1.25 million units. June saw an annual rate of 1,186 million.
Wednesday 8/19
The Federal Open Market Committee frees the minutes from its July 28-29 policy meeting, which could provide a clearer picture of the future course of the Fed’s policy decisions.
Alcon,
Lowe’s, Analog devices,
Synopsys,
Samsonite International,
Purpose, TJX, and Nvidia are one of the companies hosting conference call calls.
Thursday 8/20
Alibaba Group Holding,
Estee Lauder,
Keysight Technologies,
L Brands, Ross Stores, and BJ’s Wholesale Club Holdings are among companies that host quarterly conference calls.
The conference board will release its Leading Economic Index for July. Expectations are for an increase of 1.2%, from the gain of 2% in June.
The Department of Labor reports seasonally adjusted initial unemployment claims for the week ending August 15th.
The Philadelphia Fed Diffusion Index, a measure of overall manufacturing activity, is expected to fall to August 21 from July 24.1.
Friday 8/21
Deere and Foot Locker host earnings conference talks.
Today is Tesla’s record day for its recently announced 5-for-1 stock split. Shares will be distributed on August 28 and begin on August 31 with a split-adjusted basis.
The National Association of Realtors reports sale of existing home for July. Sales expectations are for an annualized adjusted annual rate of 5.4 million units, up from 4.72 million as of June.
Write to Nicholas Jasinski at [email protected]
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