Investors Anticipate Comments from Fed Chairman Powell and Democratic Convention Speakers
This week, investors will be closely watching for comments from Federal Reserve Chairman Jerome Powell and other central bank officials, following positive economic news on inflation and retail sales. Additionally, the Democratic National Convention will be taking place, with presidential candidate Kamala Harris scheduled to speak. Furthermore, several companies, including Lowe’s, Target, Palo Alto Networks, and Snowflake, will be releasing their earnings reports.
Monday, Aug. 19:
– Democratic National Convention begins
– U.S. leading indicators (July)
– Federal Reserve Gov. Christopher Waller delivers remarks
– Palo Alto Networks and Estee Lauder report earnings
Tuesday, Aug. 20:
– Democratic National Convention continues
– Fed Vice Chair Michael Barr and Atlanta Fed President Raphael Bostic deliver remarks
– Lowe’s reports earnings
Wednesday, Aug. 21:
– Democratic National Convention continues
– Federal Open Market Committee (FOMC) July 30-31 meeting minutes
– TJX Cos, Target, Snowflake, Zoom Video, Toll Brothers, and Macy’s report earnings
Thursday, Aug. 22:
– Initial jobless claims (Week ending Aug. 17)
– Existing home sales (July)
– S&P Global flash U.S. services and manufacturing PMI (August)
– Democratic National Convention concludes with remarks from presidential candidate Kamala Harris
– Jackson Hole Economic Symposium begins
– Intuit, TD Bank, Workday, and Ross Stores report earnings
Friday, Aug. 23:
– Fed Chair Powell delivers remarks at the Jackson Hole Economic Symposium
– New home sales (July)
Investors Await Comments from Powell
Market watchers are eagerly awaiting comments from Federal Reserve officials this week. After analyzing inflation and retail data last week, economists predicted that the Federal Reserve would begin cutting interest rates in September. However, few Fed officials have confirmed this sentiment so far, providing vague details on the path of interest rates. Investors are hoping that Fed Chair Powell will provide some clarity in his remarks on Friday at the Jackson Hole Economic Symposium. These remarks will be his first since the consumer price index (CPI) for July showed that inflation fell to its lowest levels since March 2021, indicating that price pressures have eased.
Investors Await Reports from Retailers and Cybersecurity Firms
Several large retailers will be updating investors on their earnings this week, following higher retail sales in July that surprised market watchers. Lowe’s, a hardware retailer, will report on Tuesday, while Target looks to turn around disappointing first-quarter sales figures on Wednesday. Discount retailers TJX Cos and Ross Stores are also reporting this week. Additionally, Palo Alto Networks’ report on Monday is expected to provide insight into the strength of the cybersecurity industry, while Snowflake aims to bounce back after missing earnings estimates last quarter.
In conclusion, this week will be filled with important events and earnings reports that will impact the markets. Investors will be paying close attention to comments from Fed Chairman Powell, speeches at the Democratic National Convention, and earnings reports from retailers and cybersecurity firms. These events and reports will provide valuable insights into the state of the economy and the performance of various industries.
