The week ahead for investors August 7, 2023

Snapshot: The Upcoming Week’s Highlights

Dive into this week’s key financial happenings with our succinct, easy-to-understand summaries of the most crucial economic events. Designed to keep you up-to-date, our roundup empowers you to navigate the week ahead and seize unfolding opportunities

Coming up next week: more earnings, July inflation readings, consumer sentiment update.

• Corporate Earnings Reports: A new wave of financial updates is expected from prominent companies such as Eli Lilly, UPS, Walt Disney, Honda, and Alibaba.
• Inflation Data Release: The Labor Department is set to unveil key inflationary indices with the Consumer Price Index (CPI) on Thursday and the Producer Price Index (PPI) on Friday.
• Household Financial Overview: The New York Fed’s Household Debt and Credit Report is slated for a Wednesday release, offering insights into the financial health of U.S. households during Q2.
• Consumer Confidence and Global Data: Friday promises a look into the University of Michigan’s Consumer Sentiment Index (MCSI) for August and the U.K.’s preliminary GDP reading for the same month.

Comprehensive Event Schedule

Detailed Events Calendar

Monday, August 7:

• Companies reporting earnings include KKR & Company, Palantir Technologies, BioNTech, and more.
• Release of Manheim Consulting Used Vehicle Price Index (Jul).
• Update on China Trade Balance (Jul).

Tuesday, August 8:

• Earnings from Eli Lilly & Company, United Parcel Service, Zoetis Inc., among others.
• Various reports including U.S. Trade Balance (Jun), Wholesale Inventories (Jun), and New York Fed Household Debt and Credit Report for Q2 2023.

Wednesday, August 9:

• Earnings highlights from The Walt Disney Company, Honda Motor Company, Manulife Financial Corp., and more.

Thursday, August 10:

• Earnings insights from Alibaba Group, Brookfield Corporation, and Wheaton Precious Metals Corp., among others.
• Release of Consumer Price Index (CPI) Inflation Report for July.

Friday, August 11:

• Earnings updates from Spectrum Brands Holding Inc. and Soho House & Co.
• Several reports to look forward to, including the Producer Price Index (PPI) for July, University of Michigan’s Consumer Sentiment Index for August, and the U.K.’s preliminary GDP reading for Q2 2023.

Inflationary Trends

Expect pivotal inflation data next week, spotlighting CPI on Thursday and PPI on Friday. Preliminary data suggests a month-on-month consumer price rise of 0.2%, mirroring June’s figures. The predicted annual increment of 3.3% indicates a shift from June’s 3% rate. Core inflation, excluding variables like food and energy, is projected at a consistent 4.8% rate, the lowest since the previous year’s fall.

Friday will see the Bureau of Labor Statistics sharing July’s PPI. Projections indicate a 0.2% monthly ascent, post a 0.1% climb in June. Annually, this translates to an increase of 0.7%.

Peek into Consumer Morale

The forthcoming Friday brings with it the preliminary reading of August’s Consumer Sentiment Index from the University of Michigan. With a predicted figure of 71, it marks a marginal decline from the previous month’s 71.6. A backdrop of moderated inflation and a bolstered employment scene elevated July’s figures to a zenith witnessed in two years. It’s noteworthy how sentiments have significantly revived from the preceding year’s record trough amidst heightened inflationary trends.