Brick-and-mortar retailers make up the bulk of this week’s earnings reports. Walmart, Home Depot, and Kohl’s release their second quarter results on Tuesday, followed by Lowe’s, Target, TJX, and L Brands on Wednesday. Ross Stores reports on Thursday. Non-retail names releasing results this week include Nvidia and Analog Devices on Wednesday, Alibaba Group Holding on Thursday, and Deere on Friday.
Friday is the record day for Tesla’s upcoming 5-for-1 stock split. The new shares will be distributed after the market closes a week later, on Aug. 28.
The economic calendar this week includes the release of minutes from the latest meeting of the Federal Reserve’s monetary policy setting committee. Out on Wednesday, the conversation will be closely parsed for officials’ thoughts on forward guidance, yield-curve control, and other potential new policy tools.
Economic data includes the Conference Board’s Leading Economic Index for July on Thursday, as well as a handful of housing-market indicators throughout the week.
Investors will also be watching for any market-moving developments from the Democratic National Convention. The event will be mostly virtual and run from Monday to Thursday.
Monday 8/17
JD.com, the Chinese e-commerce company, reports second-quarter financial results.
The Democratic National Convention kicks off and will run through Aug. 20. The event will be mostly virtual but centered at the Wisconsin Center in Milwaukee.
The National Association of Home Builders releases its August-period NAHB/ Wells Fargo Housing Market Index, a monthly indicator based on a survey of home builders about their perceptions of current and future home sales. Consensus estimates call for a 75 reading, up from July’s 72.
The Federal Reserve Bank of New York releases the Empire State Manufacturing Survey for August. Economists are looking for an 18 reading, up from July’s 17.2 reading.
Tuesday 8/18
Home Depot, La-Z-Boy, Advance Auto Parts, Walmart, Kohl’s, and Agilent Technologies are among companies announcing quarterly earnings results.
The U.S. Census Bureau reports new residential construction data for July. Economists forecast housing starts at a seasonally adjusted annual rate of 1.25 million units. June saw an annual rate of 1.186 million.
Wednesday 8/19
The Federal Open Market Committee releases the minutes from its July 28-29 policy meeting, which may offer a clearer picture of the Fed’s future course of policy decisions.
Alcon, Lowe’s, Analog Devices, Synopsys, Samsonite International, Target, TJX, and Nvidia are among the companies hosting earnings conference calls.
Thursday 8/20
Alibaba Group Holding, Estee Lauder, Keysight Technologies, L Brands, Ross Stores, and BJ’s Wholesale Club Holdings are among companies hosting quarterly earnings conference calls.
The Conference Board releases its Leading Economic Index for July. Expectations are for a 1.2% rise, from June’s 2% gain.
The Department of Labor reports seasonally adjusted initial jobless claims for the week ending on Aug. 15.
The Philadelphia Fed diffusion index, a measure of overall manufacturing activity, is expected to fall to 21 in August from July’s 24.1 reading.
Friday 8/21
Deere and Foot Locker host earnings conference calls.
Today is Tesla’s record day for its recently announced 5-for-1 stock split. Shares will be distributed on Aug. 28 and begin trading on a split-adjusted basis on Aug. 31.
The National Association of Realtors reports existing-home sales for July. Sales expectations are for a seasonally adjusted annual rate of 5.4 million units, up from June’s 4.72 million.
Write to Nicholas Jasinski at nicholas.jasinski@barrons.com
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