The First Slice for Monday, August 15, 2022

U.S. equity markets rallied on Friday to post gains for the week after Labor Department reports on consumer and wholesale inflation showed prices rose less than expected last month, fueling optimism that inflation may have peaked. A preliminary reading of consumer sentiment for August suggested easing prices helped boost sentiment, though it remained near record lows as close to half of the surveyed consumers said inflation impacted their standard of living. The Dow gained close to 3% for the week, while the Nasdaq and S&P 500 rose over 3%.

Major retailers will be the focus of next week’s earnings reports, beginning with results from Walmart and Home Depot on Tuesday. Lowe’s, Target, and TJX Companies will report on Wednesday, followed by Ross Stores and Kohl’s on Thursday. The U.S. Census Bureau will release July retail sales figures on Wednesday, providing an important update on the strength of consumer spending. Market watchers can also expect the latest updates on the U.S. housing market next week, with July building permits and housing starts available on Tuesday, and existing home sales on Thursday. On Wednesday, the Federal Reserve will release meeting minutes from its latest policy meeting held in July, which could offer additional insights into policymakers’ decisions.

Events Calendar:

Monday, August 15

  • Li Auto (LI), Tencent (TME), ZipRecruiter (ZIP), and Compass, Inc. (COMP) report earnings
  • NY Empire State Manufacturing Index (Aug)
  • NAHB Housing Market Index (Aug)

Tuesday, August 16

  • Walmart (WMT), Home Depot (HD), BHP Group (BHP), Sea Limited (SE), and Agilent Technologies (A) report earnings
  • Building Permits (July)
  • Housing Starts (July)
  • Industrial Production (July)

Wednesday, August 17

  • Cisco (CSCO), Lowe’s (LOW), Analog Devices (ADI), TJX Companies (TJX), Target (TGT), Synopsys (SNPS), Keysight Technologies (KEYS), Amcor (AMCR), and Bath & Body Works (BBWI) report earnings
  • Retail Sales (July)
  • Business Inventories (June)
  • FOMC Meeting Minutes (July 26-27 FOMC Meeting)
  • Euro Area GDP Growth Rate – Second Estimate (Q2 2022)
  • U.K. Inflation Rate (July)

Thursday, August 18

  • Estee Lauder (EL), Applied Materials (AMAT), NetEase (NTES), Ross Stores (ROST), BJ’s Wholesale Club (BJ), Tapestry, Inc. (TPR), Kohl’s Corp. (KSS), and Canadian Solar (CSIQ) report earnings
  • Philadelphia Fed Manufacturing Index (Aug)
  • Conference Board Leading Index (July)
  • Existing Home Sales (July)
  • Euro Area Inflation Rate – Final Reading (July)

Friday, August 19

  • Deere & Company (DE) and Foot Locker (FL) report earnings

Major Retailers Report Earnings 

Earnings season continues next week with reports from major retailers, including……..Full Loaf Hot Link[read more]

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