After a week's roller to markets, this week is preparing to become another busy one and events with plenty of market potential impacting on investors.
As interest rates are targeted, market audiences will take great care of the Federal Reserve and its chairman Jerome Powell this week. On Wednesday, the Federal Market Meeting Committee (FOMC) will be releasing its minutes of meetings in July, and Friday, Powell will be talking to start a yearly Hole Jackson Economic Policy Symposium.
After the first cut rate of the diet in more than ten years, it is expected that the minutes of the meeting will provide additional light on its decision. Economists were widely expected to see the 25 points cut in July; however, two members of the committee were voted against the cut. “The disagreements between George and Rosengren, the only two hawkish voters this year, on reducing the policy rate could not fully reflect the debate that took place during the July meeting on appropriate policy action,” Nomura in a note Friday. “In this regard, it will be important to consider divisions in the FOMC to see how high it will be for some participants to support another rate cut later this year.”
UBS expects that the minutes will show a more detailed picture on which members were seeking further reductions, and some did not need to charge a rate. “We understand that the decision was controversial. We hope that "part" of FOMC members (including the Chairman, Williams, and Clarida) pushed a greater rate, although no one (meaning at least 6) saw any reason to cut, " The firm wrote in a note to clients on Thursday.
Meanwhile, Friday morning's focus will be the Chairman Fed Powell when he gives his speech in Jackson Hole. Powell is expected to clarify future monetary policy policy in the Community and will explain whether the Fed proposes to cut rates.
TD Securities do not expect enough clarity from the Fed at its Jackson Hole conference. “We don't think the nutrition will provide much new information on both sides. Jackson Hole is an academic conference and not the appropriate forum to announce policy change. The Committee also shares the view on rates and there remains uncertainty about the impact of weak global growth and the uncertainty of trade on the US. ”
UBS economists agree with TD Securities and do not think that any significant comments come from Jackson Hole. “Due to the decision in July, when only the 25bps cut and Powell seemed to have been unable to steer the FOMC to a greater cut, there is a danger that there will be any great market praise. .
On the corporate earnings side, workplace retailers will take this week. The Department's store earnings continue to be disappointing, but there is a different story about the retail industry at large box retail. Last week, Walmart surprised investors with a strong quarter to grow in numerous categories. Even as an additional charge arises, Walmart was able to deliver strong results. With many other big names coming up to report this week, investors will be looking for further tips on how retailers plan to deal with tariffs, as the trade war thrives.
Among the comments reported this week are Home Depot, Kohl, Lowe's, Target, Nordstrom and Dick Sports Goods.
There was no prisoner engaged in a year trading war of Chinese-Chinese age. Corporations in the US and abroad are dependent on heat, but Huawei was one of the main companies captured in the crossings. Earlier this year, the Trump administered the Chinese tech giant on the black list and banned US companies. sell their supplies to Huawei. The Department of Commerce recovered for Huawei in May which is due to expire on Monday. It is expected that the United States will announce a 90 day extension to that reconstruction, according to Reuters.
Monday: Estee Lauder (EL), Weibo (WB) before market opening; Baidu (BIDU), iQIYI (IQ) after closing the market
Tuesday: Home Depot (HD), Kohl's (KSS), TJX Companies (TJX) before market opening; Toll Brothers (TOL), Urban Outfitters (URBN) after market closure
Wednesday: Jumia Tech (JMIA), Lowe's (LOW), Target (TGT) before market opening; L Brands (LB), Nordstrom (JWN) after closing the market
Thursday: Dick (DKS), Hormel Foods (HRL) Sports Goods prior to market opening; Gap (GPS), Ross Stores (ROST), Salesforce.com (CRM) after market closure
Friday: Foot locker (FL) before opening the market
Monday: N / A
Tuesday: N / A
Wednesday: MBA Mortgage Applications, week ending August 16 (21.7% in advance); Existing Home Sales, July (expected 5.40 million; 5.27 million in June); Minutes of FOMC Meetings
Thursday: Basic Employment Claims, week ending August 17 (expected to be 216,000, 220,000 in advance); Continuing Claims, week ending August 10 (1.726 million in advance); Bloomberg Comfort for consumers, the week ending August 18 (61.2 in advance); PMI US Markit Manufacturing, August (50.5 expected, 50.4 in July); PMI services US Markit, August (expected 52.8, 53.0 in July); PMI Composite Markit US, August (52.6 in July); Leading Index, July (expected 0.2%, -0.3% in June)
Friday: New Home Sales, July (644,000 expected, 646,000 in June)
Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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