Nvidia, Alibaba, CrowdStrike, Snowflake, Inflation, and More: What to Watch This Week

Dow Jones
5 hours ago

In the wake of Federal Reserve Chairman Jerome Powell's speech at Jackson Hole, the central bank's preferred inflation gauge is among the highlights for the week ahead. Earnings season isn't over, either, with Nvidia headlining a wave of reports from technology and retail firms.

PDD Holdings and Semtech report results on Monday, followed by Okta and Box on Tuesday. Things heat up on Wednesday with results from Nvidia, CrowdStrike, Snowflake, Trip.com, Agilent Technologies, HP Inc., NetApp, and Pure Storage. Marvell Technology, SentinelOne, Autodesk, and Affirm Holdings report on Thursday, while Alibaba wraps things up on Friday.

Retailers Five Below, Urban Outfitters, Abercrombie & Fitch, Foot Locker, and Kohl's report on Wednesday, followed by Best Buy, Dollar General, Dick's Sporting Goods, Burlington Stores, Ulta Beauty, and Gap on Thursday.

The big data release of the week is the Bureau of Economic Analysis' personal consumption expenditures price index for July, out Friday.

Other economic data out this week include the Census Bureau's durable goods report and the Conference Board's August consumer confidence survey on Tuesday, and the BEA's second estimate on second-quarter gross domestic product on Thursday.

Housing-market numbers will include new-home sales from the Census Bureau on Monday and the National Association of Realtors' pending home sales index for July on Thursday.

Monday, Aug. 25

Earnings reports are expected from PDD and Semtech.

The Census Bureau will release its monthly update on new residential sales for July. The consensus call is that sales of new single-family houses will hit a seasonally adjusted annual rate of 650,000, compared with 627,000 in June, according to FactSet.

Tuesday, Aug. 26

Earnings reports are due out from Okta, Box, PVH, Bank of Montreal, Bank of Nova Scotia, and MongoDB.

The Census Bureau releases the durable goods report for July. Consensus estimate is for new orders for manufactured durable goods to decrease 3.5% month over month, according to FactSet. Durable goods orders fell 9.4% in June.

The Conference Board releases its August consumer confidence survey. Economists forecast a 97 reading, compared with 97.2 in July.

Wednesday, Aug. 27

Nvidia will serve as the final member of the so-called Magnificent Seven group of megacap technology stocks to report quarterly results this time around. Analysts polled by FactSet forecast July-quarter sales for the artificial-intelligence chip titan grew nearly 53% to $45.81 billion, while adjusted earnings rose to $1 a share from 68 cents a share in the same quarter of the prior fiscal year.

CrowdStrike, Snowflake, Trip.com, Agilent Technologies, HP Inc., NetApp, Pure Storage, J.M. Smucker, Five Below, Urban Outfitters, Abercrombie & Fitch, Bill Holdings, Foot Locker, and Kohl's report quarterly results.

Thursday, Aug. 28

Best Buy, Dollar General, Dick's Sporting Goods, Burlington Stores, Hormel Foods, Brown-Forman, Marvell, Ulta, SentinelOne, Autodesk, Affirm, and Gap report quarterly results.

The Bureau of Economic Analysis releases its second preliminary estimate of second-quarter gross domestic product. The U.S. economy grew at a 3% annual rate, according to the BEA's first estimate.

The Department of Labor releases initial jobless claims for the week ended Aug. 23.

The National Association of Realtors releases its pending home sales index for July. The consensus call is a monthly uptick of 0.5% after a drop of 0.8% in June, according to FactSet.

Friday, Aug. 29

Alibaba reports quarterly results.

The BEA releases the personal consumption expenditures price index for July. Consensus estimate is for the PCE price index to increase 0.2% from June, according to FactSet. The core PCE, which excludes volatile food and energy prices, is expected to rise 2.9% year over year, or up 0.3% from the previous month.

The University of Michigan releases its final estimate for its August Index of Consumer Sentiment. The preliminary reading fell to 58.6 from 61.7 in July.

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