What to expect in the week ahead (LI, ZM, NTES, CRWD)
Weekly market recap
All three major stock indexes finished the week higher. The $Dow Jones Industrial Average (.DJI.US)$increased 1.52 % this week, while $S&P 500 Index (.SPX.US)$gained 0.96% and the $Nasdaq Composite Index (.IXIC.US)$moved 2.82% higher.
Powell said inflation is solidly around the central bank's 2% target rate, one of the goals of the Fed’s dual mandate; however, the Fed chairman also explained why he continues to think the current inflation rise is transitory and will eventually drop to the target level.
Here's a look at the return of S&P 500 sectors:
Here's a look at the return of S&P 500 sectors:
Source: jhinvestments
The week ahead in focus
It's the late innings of second-quarter earnings season, with companies ready to step up to the plate.
$Li Auto (LI.US)$, $Cloudera Inc (CLDR.US)$, $Futu Holdings Ltd (FUTU.US)$, $NetEase (NTES.US)$, $Zoom Video Communications (ZM.US)$and $Broadcom (AVGO.US)$report earnings next week.
The week ahead in focus
It's the late innings of second-quarter earnings season, with companies ready to step up to the plate.
$Li Auto (LI.US)$, $Cloudera Inc (CLDR.US)$, $Futu Holdings Ltd (FUTU.US)$, $NetEase (NTES.US)$, $Zoom Video Communications (ZM.US)$and $Broadcom (AVGO.US)$report earnings next week.
The economic data highlight of the week will be Friday's release of August employment figures from the Bureau of Labor Statistics. Economists on average are forecasting a gain of about 780,000 nonfarm payrolls, after an increase of 943,000 in July. The U.S. unemployment rate is seen ticking down 0.2 percentage points, to 5.2%.
Monday 8/30
$Zoom Video Communications (ZM.US)$discloses its quarterly results.
The National Association of Realtors reports its Pending Home Sales Index for July. Consensus estimate is for a 1% month-over-month decline, after a 1.9% drop in June.
Tuesday 8/31
The Conference Board releases its Consumer Confidence Index for August. Economists forecast a 124 reading, about five points lower than the July figure, which was the highest since the start of the Covid-19 pandemic.
The Institute for Supply Management releases its Chicago Business Barometer, a leading indicator for the U.S. economy. Expectations are for a 67.4 reading for August, lower than July's 73.4.
S&P CoreLogic reports its Case-Shiller National Home Price Index for June. The consensus call is for an 18% annual gain. If that estimate proves to be correct, it would be the third consecutive record increase, after 14.8% and 16.6% advances, respectively, in April and May. In May, cities out west -- Phoenix, San Diego, and Seattle -- led the way, with better-than 23% year-over-year jumps.
Wednesday 9/1
ADP releases its National Employment Report for August. Economists forecast an increase of 637,500 in people on nonfarm private-sector payrolls, after a 330,000 gain in July.
$Brown-Forman-A (BF.A.US)$, $Campbell Soup (CPB.US)$, $Chewy (CHWY.US)$, $Okta (OKTA.US)$, and $Veeva Systems (VEEV.US)$release quarterly results.
ISM releases its Manufacturing Purchasing Managers' Index for August. Economists forecast a 58.7 reading, slightly lower than July's.
The Census Bureau reports on construction spending for July. Expectations are for a 0.4% month-over-month gain, to a seasonally adjusted annual rate of $1.56 trillion.
Thursday 9/2
$Broadcom Inc (AVGOP.US)$, $DocuSign (DOCU.US)$, $Hewlett Packard Enterprise (HPE.US)$, and $Hormel Foods (HRL.US)$hold conference calls to discuss earnings.
Friday 9/3
Kansas City Southern has a special shareholder meeting to seek approval for its proposed merger with Canadian National Railway. In May, Kansas City Southern agreed to combine with Canadian National in a cash and stock transaction valued at roughly $34 billion.
ISM releases its Services Purchasing Managers Index for August. The consensus call is for a 59.5 reading, lower than July's record-high 64.1.
The Bureau of Labor Statistics publishes the jobs report for August. The economy is forecast to have added 781,500 positions, after a 943,000 increase in July. The unemployment rate is expected to have edged down to 5.2% from 5.4%.
Source: CNBC, Barron's
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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OptionDan : stay green to all playing this week.
Futurah_ : Mmkayyy
ngng001 : daily
71158664 : Cool
Cyberboyz1010 : Nice