Company Performance Reports: As another hectic week begins, everyone will be watching company performance reports and pricing increases. The Federal Open Market Committee may discuss interest rates differently in the following weeks.
Several significant firms will report quarterly earnings. These outcomes will reveal much about the economy. BioNTech, Palantir Technologies, and Paramount Global will report results Monday. This will make next week interesting. Barrick Gold, Eli Lilly, Take-Two Interactive Software, and UPS will again get attention on Tuesday. Walt Disney, Trade Desk, Wynn Resorts, and Illumina will exhibit on Wednesday. Alibaba Group Holding, Brookfield, News Corp., and Ralph Lauren will report results Thursday—week’s end.
Thursday will see the July CPI from the BLS. Important occurrence. In one year, the CPI is forecast to rise by 3.3%, and the core CPI, which excludes food and energy costs, is 4.8%. These growth rates are similar to June’s 3.0% and 4.8%. Pricing forces are still important. The CPI has plummeted since March 2021. This amazing fact has helped the stock market perform well.
The University of Michigan’s August Consumer Sentiment Index gives us a glimpse of Friday’s mood. The score is expected to be 71, down from 72 last month. In July, consumers predicted 3.4% inflation for the year. Last summer’s 9.1% cost of living increase didn’t change people’s inflation perceptions. Consumers are robust and unaffected by price increases.
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Other economic indices will highlight the week. The National Federation of Independent Businesses will release its July Small Business Optimism Index on Tuesday. In June, economists predicted 90.5. This enigma is crucial since the index has been below the norm of 98 for 18 months, which is less than the average of the last 49 years. This sheds light on small business emotions.
Important business announcements occur on Wednesday. Honda Motor, Illumina, Trade Desk, Walt Disney, and Wynn Resorts present their three-month accomplishments, providing a variety of concepts. Kellogg hosts a New York Stock Exchange investor day. This event indicates the firm is inclusive.
Alibaba Group Holding, Brookfield, announcements Corp., and Ralph Lauren will have conference calls on Thursday to share their announcements. In Westbrook, Maine, Idexx Laboratories has its 2023 investor day. They’ll constantly strive for growth.
Friday, the most important day of the week, provides more information. The University of Michigan’s Consumer Sentiment Index predicts a score of 71, down from last month. Consumers predicted 3.4% annual inflation in July. Interesting contrast. Even though the previous summer’s CPI figure of 9.1% was the highest in 40 years, many still anticipate inflation to continue constant.
The July producer pricing index (PPI) remains uncertain, although most analysts expect a 0.7% increase over last year—0.6% since June. After rising 2.4% in June, the headline PPI is expected to rise 2.5%. The PPI story reaches epidemic heights among these intriguing events. This strange issue continues to affect the economy. The markets are ready to digest the week’s results and economic figures.