Earnings season keeps on rolling this week. We’ll also get a key inflation reading that will inform the Federal Open Market Committee’s next interest rate decision.
BioNTech,
Palantir
Technologies, and
Paramount Global
are among the earnings highlights on Monday. They’ll be followed by
Barrick Gold,
Eli Lilly,
Take-Two Interactive Software,
and
United Parcel Service
on Tuesday. Walt
Disney,
Trade Desk,
Wynn Resorts,
and
Illumina
report on Wednesday.
Alibaba Group Holding,
Brookfield,
News Corp,
and
Ralph Lauren
wrap things up on Thursday.
The Bureau of Labor Statistics releases the consumer price index for July on Thursday. The consensus estimate is for the CPI to rise 3.3% year over year and the core CPI, which excludes volatile food and energy prices, to increase 4.8%. This compares with gains for 3.0% and 4.8%, respectively, in June. The CPI is at its lowest level since March of 2021, helping to fuel much of this year’s stock market rally.
The University of Michigan releases its Consumer Sentiment Index for August on Friday. Expectations are for a 71 reading, slightly less than the in prior month. In July, consumers’ expectations of the year-ahead inflation was 3.4%. Inflation expectations remain well anchored despite the four-decade high CPI reading of 9.1% reached last summer.
Other economic data releases include the National Federation of Independent Business’ Small Business Optimism Index for July on Tuesday, and the BLS’ producer price index for July on Friday.
Monday 8/7
BioNTech,
Celanese,
Coterra Energy,
KKR,
Oneok,
Palantir Technologies, Paramount Global, and
Tyson Foods
report quarterly results.
Tuesday 8/8
Barrick Gold,
Duke Energy,
Eli Lilly,
GlobalFoundries,
Take-Two Interactive Software,
TransDigm Group,
United Parcel Service, and
Zoetis
release earnings.
The National Federation of Independent Business releases its Small Business Optimism Index for July. Economists forecast a 90.5 reading, roughly even with June. The index has had 18 consecutive monthly readings below the 49-year average of 98.
Wednesday 8/9
Honda Motor,
Illumina, Trade Desk, Walt Disney, and Wynn Resorts announce quarterly results.
Kellogg
hosts an investor day at the New York Stock Exchange.
Thursday 8/10
Alibaba Group Holding, Brookfield, News Corp, and Ralph Lauren hold conference calls to discuss earnings.
Idexx Laboratories
holds its 2023 investor day at its corporate headquarters in Westbrook, Maine.
The Bureau of Labor Statistics releases the consumer price index for July. Consensus estimate is for the CPI to rise 3.3% year over year and the core CPI, which excludes volatile food and energy prices, to increase 4.8%. This compares with gains for 3.0% and 4.8%, respectively, in June. The CPI is at its lowest level since March of 2021, helping to fuel much of this year’s stock market rally.
Friday 8/11
The University of Michigan releases its Consumer Sentiment Index for August. Expectations are for a 71 reading, slightly less than the in prior month. In July, consumers’ expectations of the year-ahead inflation was 3.4%. Inflation expectations remain well anchored despite the four-decade high CPI reading of 9.1% reached last summer.
The BLS releases the producer price index for July. The consensus call is for the PPI to increase 0.7% from a year earlier, six-tenths of a percentage point more than in June. The core PPI is seen rising 2.5%, after a 2.4% gain in June. The PPI is at the lowest level since the onset of the pandemic in early 2020.
—Dan Lam contributed to this article
Write to Connor Smith at [email protected]
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