What to Expect in the Week Ahead (NIO, CRM, AVGO Earnings; Jobs and Inflation Data)

Moomoo Breakfast US wrote a column · Aug 28, 2023 08:22

What to Expect in the Week Ahead (NIO, CRM, AVGO Earnings; Jobs and Inflation Data)

New data on the U.S. labor market will be this week's highlights, as well as earnings reports from several retailers and the latest inflation data.

$PDD Holdings (PDD.US)$, $NIO Inc (NIO.US)$, and $HP Inc (HPQ.US)$ will report on Tuesday, followed by $Salesforce (CRM.US)$ and $CrowdStrike (CRWD.US)$ on Wednesday. On Thursday, $Broadcom (AVGO.US)$, $Lululemon Athletica (LULU.US)$, and $MongoDB (MDB.US)$ release results.

The Bureau of Labor Statistics will publish the results of the July Job Openings and Labor Turnover Survey on Tuesday. Economists are forecasting job openings to hold about flat from a month earlier.

On Friday, the BLS is expected to report a gain of 175,000 nonfarm payrolls for August, which would be another slim deceleration from the prior month. The unemployment rate is forecast to hold steady at 3.5%. Average hourly earnings are seen rising 0.3% month over month.

Other economic data out this week will include the Conference Board's Consumer Confidence Survey for August on Tuesday and the Bureau of Economic Analysis' personal income and expenditures data for July on Thursday.

Economists are expecting to see a 0.3% rise in income and a 0.7% increase in spending in the month. The Federal Reserve's preferred inflation measure, the core personal-consumption expenditures price index, is forecast to be up 4.2% from a year earlier.

Monday, 8/28

$BYD Co. (BYDDF.US)$ announces results, according to FactSet.

Tuesday, 8/29

$NIO Inc (NIO.US)$, $PDD Holdings (PDD.US)$, and $HP Inc (HPQ.US)$ are expected to release quarterly earnings.

The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey.

S&P CoreLogic will release its Case-Shiller National Home Price Index on Tuesday. The consensus call is for a 1.3% cooldown compared to June 2022. Though home prices are expected to be down from last year, they have been heating up in recent months after sliding in late 2022.

The Conference Board releases its Consumer Confidence Index for August.

Wednesday, 8/30

$Salesforce (CRM.US)$, $Gaotu Techedu (GOTU.US)$, and $CrowdStrike (CRWD.US)$ are expected to announce results.

ADP releases its National Employment Report.

Thursday, 8/31

$Broadcom (AVGO.US)$, $Lululemon Athletica (LULU.US)$, $Dell Technologies (DELL.US)$, and $MongoDB (MDB.US)$ report results.

The Institute for Supply Management releases its Chicago Business Barometer for August.

Friday, 9/1

Jobs Friday will be a closely watched affair this week. Economists polled by FactSet estimate the U.S. economy added 175,000 jobs in August, a slowdown from 187,000 in July. The jobs report from the Bureau of Labor Statistics will help inform the Federal Reserve's interest-rate decision when the Federal Open Market Committee meets from Sept. 19-20.

The Census Bureau reports construction spending for July.

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