Following last week’s stock market collapse, Wall Street investors’ eyes next week will be on inflation figures scheduled for release on Tuesday and Wednesday: the Producer Price Index and the Consumer Price Index.
Other important economic data will also be released next week, including retail sales and industrial production figures.
On the earnings side, heavyweights like retail giants Walmart and Home Depot and networking giant Cisco will report their second-quarter results next week.
Economic events
On August 13 (Tuesday), the Producer Price Index (PPI) and NFIB Optimism Index reports for July will be released.
On August 14 (Wednesday), data on the Consumer Price Index (CPI) for July, US retail sales for July, industrial production for July, the Empire State Manufacturing Survey for August and the Philadelphia Fed Manufacturing Survey for August will be released.
On August 16 (Friday), data on consumer sentiment (provisional) for August and on housing starts for July will be published.
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The following companies are due to announce their second quarter results next week: Barrick Gold, monday.com Ltd, Rumble, Home Depot, Tencent Music, On Holding, UBS Group, Cardinal Health, Brinker International, Cisco, Walmart, Alibaba, Applied Materials, Deere, JD.com and Tapestry.
US markets last week
U.S. stock indices closed higher on Friday, with the stock market recovering from a sharp decline earlier in the week.
The S&P 500 gained 25.11 points, or 0.47%, to close at 5,344.42, while the Nasdaq Composite gained 85.65 points, or 0.51%, to 16,745.67. The Dow Jones Industrial Average rose 49.86 points, or 0.13%, to 39,496.35.
The yield on 10-year government bonds fell from 3.99% to 3.94%.
The US dollar fell from 147.23 to 146.64 Japanese yen. The euro remained unchanged at 1.0919 dollars.
Brent crude for October delivery rose 50 cents to $79.66 a barrel on Friday. U.S. benchmark crude for September delivery rose 65 cents to $76.84 a barrel.
Gold for December delivery rose $10.10 to $2,473.40 an ounce. Silver for September delivery fell 2 cents to $27.59 an ounce.
