Market expert warns end of earnings season could ignite short selling
Strategic Wealth Partners CEO Mark Tepper, NFJ Investment Group portfolio manager Burns McKinney and Infrastructure Capital Management CEO Jay Hatfield analyze the recent market rally as inflation persists on ‘Mornings with Maria.’
The retail sector will be a major focus this week with investors digesting July's sales data on Wednesday and corporate earnings throughout the week from major players, including Walmart, Home Depot, Lowe's, Target, TJX Companies and Kohl's.
Investors will also get fresh updates from the Conference Board's index of economic leading indictors and existing home sales.
|I:DJI||DOW JONES AVERAGES||33761.05||+424.38||+1.27%|
|I:COMP||NASDAQ COMPOSITE INDEX||13047.185943||+267.27||+2.09%|
U.S. stocks staged a strong rally Friday with all three of the major averages posting gains of 1%+ as investors cheered a modest pullback in consumer and producer prices, while speculating the Federal Reserve may ease the size of future rate hikes.
The Nasdaq Composite began a fresh bull market, rising 3% for the week, the highest close since April. Meanwhile, the Dow and S&P reached the best levels since May, rising 2.8% and 3.2%, respectively.
FOX Business takes a look at upcoming events likely to move financial markets in the coming days.
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Kicking off the week for earnings will be Weber before the market opens and Tencent Music Entertainment and ZipRecruiter after the bell.
|TME||TENCENT MUSIC ENTERTAINMENT GROUP||4.41||+0.01||+0.23%|
As for economic data, investors will be watching the National Association of Homebuilders' housing market index and the New York Fed's Empire State manufacturing index. Federal Reserve Board Governor Christopher Waller will also deliver opening remarks before the central bank's 2022 Summer Workshop on Money, Banking, Payments, and Finance.
Monday also marks the deadline of Sen. Elizabeth Warren, D-Mass., for the Environmental Protection Agency and Department of Energy to answer questions about energy reporting requirements in cryptomining.
Home Depot and Walmart will take the spotlight for earnings before the market opens on Tuesday.
|HD||THE HOME DEPOT INC.||314.89||+4.20||+1.35%|
On the economic data front, investors will digest building permits, housing starts and industrial production.
Earnings will ramp up on Wednesday with Analog Devices, Krispy Kreme, Lowe’s, Performance Food Group, Target and TJX Companies before the market opens and Bath & Body Works, Cisco Systems and Keysight Technologies after the bell.
|ADI||ANALOG DEVICES INC.||179.26||+4.71||+2.70%|
|LOW||LOWE’S COS. INC.||206.47||+4.29||+2.12%|
|TJX||THE TJX COS. INC.||65.47||+1.06||+1.65%|
Economic data on the docket for Wednesday will include retail sales, business inventories, weekly mortgage applications and the Energy Information Administration's weekly crude stocks.
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Retail will dominate earnings on Thursday with BJ’s Wholesale Club, Estée Lauder, Kohl’s and Tapestry all set to deliver quarterly results. After the bell, investors will hear from Applied Materials and Ross Stores.
|BJ||BJS WHSL CLUB HLDGS INC||68.26||-1.33||-1.91%|
|EL||THE ESTÉE LAUDER COMPANIES INC.||275.38||+5.02||+1.86%|
|AMAT||APPLIED MATERIALS INC.||110.38||+4.85||+4.60%|
|ROST||ROSS STORES INC.||90.12||+1.97||+2.23%|
Economic data for the week will conclude on Thursday with existing home sales, the Conference Board's index of leading economic indicators, the Philadelphia Fed's manufacturing index, and the latest in initial and continuing jobless claims.
Minneapolis Fed president Neel Kashakari will also participate in a Q&A session at Young Presidents Organization's Gold Twin Cities Chapter luncheon.
Wrapping up the week will be earnings from Buckle, Deere & Co. and Foot Locker before the market opens.
|BKE||THE BUCKLE INC.||32.74||+0.32||+0.99%|
|DE||DEERE & CO.||368.35||+6.33||+1.75%|
|FL||FOOT LOCKER INC.||31.52||+0.68||+2.20%|
Richmond Fed president Thomas Barkin will also participate in a panel entitled "Riding the Wave: Maryland's Economic Forecast in Stormy Seas" before the Maryland Association of Counties 2022 Summer Conference.
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