Fed in Focus with July Minutes, Jackson Hole Symposium
A slew of retailers will report earnings next week
The Fed will be in focus next week, with the central bank's annual symposiumin Jackson Hole, Wyoming, kicking off on Thursday. Prior to that, though, Wall Street will dissect the Federal Open Market Committee (FOMC)July meeting minutes, looking for clues to the future pace of rate cuts. As far as earnings go, several retail names will take the spotlight, including Home Depot (HD), Urban Outfitters (URBN), Lowe's (LOW), Target (TGT) and Nordstrom (JWN).
Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.
Data on e-commerce retail sales is on the docket for Monday, Aug. 19, along with earnings from Baidu (BIDU), Estee Lauder (EL), iQIYI (IQ), Red Robin Gourmet Burgers (RRGB), and Weibo (WB).
There's not much on the economic calendar for Tuesday, Aug. 20, but a flurry of retailers will throw their hat into the earnings ring, including Home Depot (HD), Kohl's (KSS), TJX Companies (TJX), and Urban Outfitters (URBN), and Toll Brothers (TOL) will also release quarterly results.
Things will pick up on Wednesday, Aug. 21, with data on existing home sales and weekly crude inventories out. The minutes from the latest FOMC meeting will be the day's big feature, slated for release at 2 p.m. ET. Earnings from L Brands (LB),Lowe's (LOW), Nordstrom (JWN), and Target (TGT)are slated for release.
For Thursday, Aug. 22, weekly jobless claims are due, along with the Fed's balance sheet. The central bank's annual symposium in Jackson Hole, Wyoming, will also kick off. Wall Street will also comb through earnings fromChildren's Place (PLCE), Dick's Sporting Goods (DKS), Gap (GPS), Hormel Foods (HRL), HP (HPQ), Intuit (INTU), Ross Stores (ROST), and VMware (VMW).
The second day of the Fed's three-day symposium will commence on Friday, Aug. 23. Investors will also look at new home sales. As far as earnings, Buckle (BKE), Foot Locker (FL), and Hibbett Sports (HIBB).