Investors will be closely watching major earnings reports from Home Depot, Target and Walmart this week and await the release of retail sales data.
Federal Reserve The Bank of New York will release consumer inflation expectations data on Monday. In July, the New York Federal Reserve’s survey of consumer expectations showed that Americans expect inflation to remain higher over the next few years.
It will be a relatively quiet day on the economic data front, and no big-name companies will be reporting quarterly results on Monday.
Targeted Market Cap Losses of $15.7B, Equity Approach 52-Week Amid WOKE BACKLASH
Home Depot will be the first major retailer to report earnings this week. company Missed revenue projections In the first quarter and lowered its profit and sales forecasts for the year.
Last week, Telsey Advisory Group downgraded the home improvement chain’s stock amid weakness in the housing market due to falling home sales and increasing mortgages.
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Retail sales data as well as import and export prices are also scheduled for release on Tuesday morning.
The goal will lead Earnings today as investors monitor the company’s guidance after the retail giant’s sales slump and revenue slump surrounding in-store LGBTQ Pride merchandise.
in June, Target saw a loss in its market value $15.7 billion, with shares nearing a 52-week low.
TJX, the parent company of TJ Maxx, Marshalls and Home Goods, will also report earnings before the bell on Tuesday. Cisco Systems is due to report after market close.
Meanwhile, crude oil inventories, housing construction, building permits and mortgage applications data will be released on Wednesday.
Wal-Mart is due to report Its quarterly results Thursday morning before the opening bell on Wall Street. In May, the company raised its sales and profit forecasts for the year after seeing an increase in its grocery and e-commerce businesses.
Ross Stores and Tapestry will also release quarterly results on Thursday. Tapestry, the parent company of Coach, Thursday announced that it will buy Capri Holdings For $8.5 billion in cash to create an American fashion house that could compete with its biggest contemporaries in Europe. Capri brands include Versace and Michael Kors.
The Department of Labor will issue the latest Unemployment claims data.
Deere agricultural equipment and heavy machinery company is scheduled to report quarterly results on Friday. The Illinois-based company raised its 2023 net income forecast in May.
Estée Lauder and Palo Alto Networks also reported quarterly results on Friday, and Baker Hughes will release the latest. oil and gas number of drilling rigs.
