Wall Street investors will have a busy week ahead, with a series of key economic indicators, corporate earnings and Treasury auctions likely to shape market sentiment.
Following unexpectedly weak US nonfarm payrolls data for July, investors will closely watch the latest inflation readings, housing-market figures, retail sales data and consumer sentiment survey for clues about the strength of the US economy and the Federal Reserve’s next monetary policy move.
US money markets are currently pricing in about a 44% probability of a Federal Reserve rate hike in September, according to LSEG data. The latest economic releases could influence those expectations, particularly if inflation shows signs of accelerating or the labor market continues to weaken.
The July Consumer Price Index (CPI) will be released on Wednesday, followed by the Producer Price Index (PPI) on Thursday.
Investors will also receive July retail sales data on Friday, which will offer an important indication of the strength of consumer spending. Housing data will also be in focus, with July existing home sales scheduled for release on Tuesday.
On the corporate earnings front, several notable companies are scheduled to report their quarterly results. Investors will be watching earnings from Applied Materials, Rocket Lab, Archer Aviation, CoreWeave, CAVA, Cisco and Coherent.
The earnings reports could provide fresh insights into corporate demand, technology spending, artificial intelligence-related investment and broader business conditions.
The US Treasury will also be active in the bond market. It is scheduled to auction $58 billion of three-year notes on Tuesday, followed by $42 billion of 10-year notes on Wednesday and $25 billion of 30-year bonds on Thursday.
US Economic Calendar
August 10 (Monday): No events scheduled
August 11 (Tuesday): Reports on National Federation of Independent Business (NFIB) Index of Small Business Optimism for July and existing home sales for July will be released.
August 12 (Wednesday): Reports on Consumer Price Index (CPI) for July and monthly Treasury balance for July will be released. August 13 (Thursday): Separate data on weekly jobless claims for the week ended August 8 and Producer Price Index (PPI) for July will be released.
August 14 (Friday): Reports on retail sales for July and University of Michigan preliminary consumer survey for August will be released.
Earnings
Following companies are scheduled to declare their quarter results in the week ahead – Simon Property Group, Plug Power, Cardinal Health, CoreWeave, Super Micro Computer, Tencent, Cisco, Applied Materials, Rocket Lab, Archer Aviation, CAVA, and Coherent.
US Stock Market Last Week
US equities surged and bond yields dropped on Friday following official data revealing a surprising loss of 23,000 jobs last month. Signs of a cooling labor market fueled expectations that the Federal Reserve may delay further interest rate increases intended to curb inflation.
On Friday, the S&P 500 rose 47.68 points, or 0.6%, to 7,757.64. The Dow Jones Industrial Average rose 151.83 points, or 0.3%, to 54,036.93. The Nasdaq composite rose 342.26 points, or 1.3%, to 26,690.62.
The Russell 2000 index of smaller companies rose 32.95 points, or 1.1%, to 3,034.49.
For the week, the S&P 500 is up 267.92 points, or 3.6%. The Dow is up 1,551.90 points, or 3%. The Nasdaq is up 1,316.76 points, or 5.2%.
