Several tech and retail companies will be reporting their latest quarterly results this week. Fed watchers will watch the central bank’s annual conference in Jackson Hole, U.S., this weekend.
Zoom video communication
The highlights will be Monday’s earnings, followed by results from
Advanced Auto Parts
Ulta Beauty and
The quarterly results will be published on Thursday.
The Federal Reserve’s three-day economic policy seminar begins in Kansas City Thursday, with economists and officials discussing this year’s topic, “Reassessing Constraints on Economics and Politics.”
Economic data released this week will include the S&P Global Manufacturing and Services PMI for August on Tuesday. The Census Bureau will also release its durable goods report for July on Wednesday and the Bureau of Economic Analysis will release personal income and spending figures for July on Friday.
Palo Alto Networks and Zoom Video Communications report their quarterly results.
Federal Reserve The Bank of Chicago releases its National Activity Index for July. The consensus estimate is for a negative reading of 0.14, slightly better than in June.
Nvidia announces second-quarter results for fiscal year 2023. In early August, the company previously announced weaker-than-expected sales for the quarter due to the softness of the gaming segment. Shares are down 6% since then.
advanced auto parts,
Bank of Nova Scotia
Nordstrom and Toll Brothers release earnings.
Census office New residential real estate sales reports for the month of July. Economists expect new single-family home sales to have been at a seasonally adjusted rate of 577,500, 12,500 less than in June. New home sales are down more than 40% from the summer of 2020.
S&P Global Publications Both manufacturing and services purchasing managers’ indices for August. Outlook for manufacturing
to 52, while the Services PMI is expected to come in at 50. This compares to readings of 52.2 and 47.3, respectively, in July. This was the first reading below 50 for the services PMI in more than two years, indicating a contraction in the sector.
Royal Bank of Canada
Salesforce, Snowflake, and Williams-Sonoma Earnings Report.
Census office The durable goods report for the month of July is released. The consensus call for new orders for manufactured durable goods to increase 0.5% month over month to $274 billion.
Canadian Imperial Bank of Commerce
Dell Technologies, Dollar General, Dollar Tree,
Toronto Dominion Bank
Ulta Beauty, VMware, and Workday hold conference calls to discuss quarterly results.
Federal Reserve The Kansas City Bank is hosting its three-day 2022 Economic Policy Symposium in Jackson Hole, UT, and “Reassessing Constraints on Economics and Politics” was the theme of this year’s conference.
Economic Bureau The analysis reports its second estimate of GDP growth. The initial estimate was that gross domestic product contracted at a seasonally adjusted annual rate of 0.9% in the second quarter. This marked two consecutive quarters of declines, in which one definition of a recession was met.
BEA Reports Personal income and spending for the month of July. Income is expected to rise 0.6% month over month, in line with June’s gain. Spending is expected to increase by 0.5% compared to 1.1% previously. The consensus estimates are that the core PCE price index will rise 4.7% year over year, after a 4.8% jump in June.
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