As the trading day comes to a close and the after-hours period begins, here are the key events investors should watch for on Thursday, August 15, 2024.
Earnings season continues and major retail companies such as Walmart (WMT), Ross Stores (ROST) and Deere & Co. (DE) will release their quarterly results. Other notable companies such as Alibaba (BABA), Applied Materials (AMAT) and Tapestry (TPR) will also announce their results.
On the economic front, US retail sales for July will be released. Economists expect an increase of 0.4%.
Finally, comments from the Federal Reserve are on the agenda. Officials such as Alberto Musalem, President of the St. Louis Fed, and Patrick Harker, President of the Philadelphia Fed, will deliver speeches. Market participants will be eager to hear any new information on the Federal Reserve’s upcoming rate cut decision.
The Federal Home Loan Mortgage Corporation (better known as Freddie Mac) will also announce the latest figures on mortgage interest rates.
Click here to watch the full episode of Market Domination Overtime for more expert insights and information on current market events.
This article was written by Angel Smith
Video transcript
What to watch for Thursday, August 15: Starting with earnings, tomorrow will see the retail earnings release, including biggie Walmart Plus Ross Tapestry.
Walmart, the parent company of brands such as Coach and Cap Spa, will report second-quarter results this morning. Analysts expect second-quarter sales growth and that the company’s investments in lower prices will resonate with price-conscious consumers.
And speaking of consumers, US retail sales for July will be released tomorrow, which are expected to rise 0.4%, giving us better insight into the resilience of consumer spending and setting the tone for the Federal Reserve.
Tomorrow we will hear another round of Fed comments from Fed Chairs Alberto Musallam and Patrick Harker. Wall Street will be looking for cues from Fed officials after the latest round of economic data.
As the Fed deliberates its next interest rate decision in September and Freddie Mac’s new mortgage rates are finally set to be announced last week afternoon, the 30-year fixed rate fell to a 15-month low of 6.47% just as they were discussing, catching up and watching the recovery and refinancing request.
What is low enough to get someone to buy?
No, no, you said 3%.
