After the rout in stock markets last week, Wall Street investors’ attention in the week ahead will be on inflation readings with the Producer Price Index and the Consumer Price Index data slated to be released on Tuesday and Wednesday, respectively.
The week ahead will also see some more significant economic data including retail sales and industrial production numbers.
On earnings front, heavyweights such as retail giants Walmart and Home Depot, and networking behemoth Cisco will announce their second quarter results next week.
Economic events
On August 13 (Tuesday), reports on Producer Price Index (PPI) for July and NFIB Optimism Index for July will be released.
On August 14 (Wednesday), data on Consumer Price Index (CPI) for July, US retail sales for July, industrial production for July, Empire State manufacturing survey for August and Philadelphia Fed manufacturing survey for August will be declared.
August 16 (Friday) will see the release of data on consumer sentiment (prelim) for August and housing starts for July.
Earnings
Following companies are due to report second quarter earnings in the week ahead — 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
US stock indices closed higher on Friday, with the share market recovering from a bruising rout at the start of the week.
The S&P 500 gained 25.11 points, or 0.47%, to end at 5,344.42 points, 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 the 10-year Treasury fell to 3.94% from 3.99%.
The US dollar fell to 146.64 Japanese yen from 147.23. The euro was unchanged at $1.0919.
Brent crude for October delivery gained 50 cents to $79.66 per barrel on Friday. Benchmark US crude oil for September delivery rose 65 cents to $76.84 per barrel.
Gold for December delivery surged $10.10 to $2,473.40 per ounce. Silver for September delivery fell 2 cents to $27.59 per ounce.
