Lowe’s, Dick’s Sporting Goods earnings, Fed’s Jackson Hole Symposium, Fox GOP debate top week ahead
Lowe's, Macy's, Dick's Sporting Goods are among the retailers reporting
Bullseye American Ingenuity Fund portfolio manager Adam Johnson discusses whether another Fed rate hike indicates a recession is coming on 'Varney & Co.'
Another week of retail earnings is slated on Wall Street, with economic reporting on existing and new U.S. home sales and the Jackson Hole Symposium.
Meanwhile, the major U.S. indexes were down for the week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43988.99 | +259.65 | +0.59% |
| SP500 | S&P 500 | 5995.54 | +22.44 | +0.38% |
| I:COMP | NASDAQ COMPOSITE INDEX | 19286.776974 | +17.32 | +0.09% |
The tech-heavy Nasdaq has now fallen roughly 5.7% this month.
Monday, Aug. 21
President Biden and the first lady will travel to Maui on Monday to meet with first responders and wildfire survivors as the region begins its recovery.
Fire damage is seen in Lahaina, Hawaii, on Sunday. The death toll continues to rise from the fires on Maui. (Matt McClain/The Washington Post via Getty Images / Getty Images)
In earnings, Zoom will report after the close of trading providing fresh insight on return-to-work policies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| ZM | ZOOM VIDEO COMMUNICATIONS INC. | 81.46 | +1.27 | +1.58% |
TARGET’S PRIDE MERCHANDISE LEADS TO SALES SLUMP
Tuesday, Aug. 22
Wil Lowe’s earnings say more about struggling housing industry?
Lowe’s, Dick’s Sporting Goods and Macy’s will report on Tuesday morning, with economic data on existing home sales also slated for release.
Earlier this month, analysts at the Telsey Advisory Group downgraded Lowe’s amid a housing market weakened by falling home sales and mortgage increases.
A ‘for sale’ sign appears in front of a home in Evesham Twp., N.J., on Feb. 26, 2023. (Fox News)
Wednesday, Aug. 23
Fox GOP Debate - Election Kickoff
Fox News will hold the first GOP debate, which is set to begin at 9pm ET. The second GOP presidential primary debate will air on FOX Business on Sept. 27.
FOX Business will host the second GOP presidential primary debate on Sept. 27. (FOX)
Retail, homes and oil
Foot Locker, Abercrombie & Fitch and Kohl’s all report Wednesday morning, with economic data expected on building permits, new home sales and crude inventories in the U.S.
CHINA’S EVERGRANDE FILES FOR BANKRUPTCY IN NEW YORK COURT
The price of oil has flip-flopped in recent weeks and is hovering around the $80 per barrel level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND - USD ACC | 73.13 | -1.53 | -2.05% |
An oil pumpjack stands idle near homes in Long Beach, California, on Feb. 9, 2023. (Mario Tama/Getty Images / Getty Images)
Chipmaker Nvidia will report Wednesday after the bell. Shares have gained over 196% as it expands its AI footprint.
Thursday, Aug. 24
Jackson Hole
U.S. Federal Reserve officials will be in Jackson Hole, Wyoming, on Thursday to host economists and monetary policy experts from around the world for a three-day annual conference and symposium.
From right, Federal Reserve chairman Jerome Powell; Lael Brainard, vice chair of the board of governors for the Federal Reserve System; and John Williams, president and CEO of the Federal Reserve Bank of New York. (David Paul Morris/Bloomberg via Getty Images / Getty Images)
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Also on Thursday, Nordstrom will report to shareholders after the closing bell. The retailer's Los Angeles store was recently hit with a brazen smash-and-grab in which thieves stole over $100,000 worth of product, shocking the nation.
SEE IT: Brazen Nordstrom Smash-and-Grab
A Los Angeles Nordstrom store was ransacked by a mob of more than 30 people on Aug. 12, 2023, with the suspects getting away with roughly $100,000 worth of handbags and clothes. (Anniella Weise)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JWN | NORDSTROM INC. | 22.52 | -0.40 | -1.72% |
Friday, Aug. 25
Jackson Hole Symposium continued
The Jackson Hole Symposium will continue through Saturday, with light earnings and economic reporting slated for the day.
T3 Trading chief strategist Scott Redler and Prosper Trading Academy CEO Scott Bauer react to 'choppy' market conditions as inflation declines on 'The Claman Countdown.'