Numerous tech and retail companies will report their latest quarterly results this week. Federal Reserve observers will tune in at the end of the week for the central bank’s annual conference in Jackson Hole, Wyo.
Zoom video communication
will be Monday’s earnings high, followed by results from
Advanced Auto Parts
Ulta Beauty, en
will publish its quarterly results on Thursday.
The Kansas City Fed’s three-day Economic Policy Symposium kicks off on Thursday, with economists and officials discussing this year’s theme, “Reassessing constraints on the Economy and Policy.”
Economic data released this week includes S&P Global’s manufacturing and services purchasing managers’ indices for Tuesday in August. The Census Bureau will also release its July durables report on Wednesday, and the Bureau of Economic Analysis will report its July personal income and spending data on Friday.
Palo Alto Networks and Zoom Video Communications report quarterly results.
the Federal Reserve Bank of Chicago releases its National Activity Index for July. The consensus estimate is for a negative 0.14 reading, slightly better than in June.
Nvidia reports second quarter fiscal-2023 results. In early August, the company announced weaker-than-expected revenue for the quarter due to softness in its gaming segment. Shares have since fallen 6%.
advanced auto parts,
Bank of Nova Scotia
Nordstrom and Toll Brothers announce profit.
The Census Bureau reports new home sales data for July. Economists predict that sales of new single-family homes at a seasonally adjusted rate of 577,500 were 12,500 less than in June. New home sales have fallen by more than 40% since the summer of 2020.
S&P Global Releases both the Manufacturing and Services Purchasing Managers indices for August. Expectations are for production
52, while the Services PMI is set to 50. This compared to 52.2 and 47.3 in July respectively. That was the first reading below 50 for the services PMI in more than two years, indicating a contraction in that sector.
Royal Bank of Canada
Salesforce, Snowflake and Williams-Sonoma report earnings.
The Census Bureau publishes the durable goods report for July. The consensus is that new orders for durable manufactured goods should increase 0.5% monthly to $274 billion.
Canadian Imperial Bank of Commerce
Dell Technologies, Dollar General, Dollar Tree,
Ulta Beauty, VMware and Workday are holding conference calls to discuss quarterly results.
the Federal Reserve Bank of Kansas City will host the three-day symposium on economic policy in Jackson Hole, Wyo in 2022. “Reassessing constraints on the Economy and Policy” is the theme of this year’s conference.
The Office of Economic Analysis reports its second estimate of gross domestic product growth. The preliminary estimate was that seasonally adjusted GDP contracted by 0.9% year-on-year in the second quarter. This meant two consecutive quarters of declines, which fit one definition of a recession.
The BEA reports personal income and expenses for July. Income is expected to rise 0.6% month over month, in line with June earnings. Spending is up 0.5%, compared to 1.1% earlier. The consensus estimate is that the core personal consumption expenditure price index will rise 4.7% year over year, after jumping 4.8% in June.
Write to Nicholas Jasinski at [email protected]