In the upcoming week, a series of earnings reports are expected from prominent companies including Eli Lilly, UPS, The Walt Disney Company, Honda Motor Company, and Alibaba. Additionally, new data on inflation will be unveiled by the Labor Department through the Consumer Price Index (CPI) on Thursday and the Producer Price Index (PPI) on Friday.
Also, the New York Fed will share its quarterly Household Debt and Credit Report on Wednesday, providing insights on U.S. households’ financial status in the second quarter. On Friday, the preliminary reading for August’s University of Michigan’s Consumer Sentiment Index (MCSI), along with a GDP reading from the U.K., will be released.
Highlights of the week:
- Earnings reports from several large corporations including Eli Lilly, UPS, The Walt Disney Company, Honda Motor Company, and Alibaba.
- New inflation data from the Labor Department (CPI and PPI).
- Release of the quarterly Household Debt and Credit Report by the New York Fed.
- Preliminary reading of the University of Michigan’s Consumer Sentiment Index (MCSI) and U.K. GDP for August.
Event Calendar:
Monday, August 7
- Earnings reports from KKR & Company, Palantir Technologies, BioNTech, International Flavors & Fragrances, Coterra Energy, Tyson Foods, Skyworks Solutions Inc., Lucid Group, Paramount Global, and Viatris Inc.
- Manheim Consulting Used Vehicle Price Index and China Trade Balance.
Tuesday, August 8
- Earnings reports from Eli Lilly & Company, United Parcel Service, Zoetis Inc., Duke Energy Corp., Li Auto, GlobalFoundries Inc., Sun Life Financial, Barrick Gold, Take-Two Interactive Software, and Rivian Automotive.
- U.S. Trade Balance, Wholesale Inventories, NFIB Business Optimism Index, and IBD/TIPP Economic Optimism Index.
- New York Fed Household Debt and Credit Report for Q2 2023.
Wednesday, August 9
- Earnings reports from The Walt Disney Company, Honda Motor Company, Manulife Financial Corp., Illumina, Roblox Corporation, U-Haul Holding Company, and Charles River Laboratories International.
Thursday, August 10
- Earnings reports from Alibaba Group, Brookfield Corporation, Wheaton Precious Metals Corp., News Corporation, and US Foods Holding Corp.
- Consumer Price Index (CPI) Inflation Report.
Friday, August 11
- Earnings reports from Spectrum Brands Holding Inc. and Soho House & Co.
- Producer Price Index (PPI) Inflation Report.
- University of Michigan Consumer Sentiment Index – Preliminary and U.K. Gross Domestic Product (GDP) – Preliminary Reading.
Updates on inflation, including the CPI and PPI, are anticipated for next week. We are expecting a slight increase in consumer prices, mirroring June’s trends, and year-on-year inflation to have accelerated. Similarly, producer prices are also projected to have risen slightly in the past month.
Updates on consumer confidence will also be available through the preliminary reading of the University of Michigan’s Consumer Sentiment Index (MCSI). While still not at pre-pandemic levels, there is optimism due to slowing inflation and a strong jobs market.
