The Week Ahead For August 17th
by Geoff Garbacz
The NASDAQ 100, Russell 2000, Dow Jones Industrial Average and S&P 500 were higher for the week.
1.Geopolitical and Fiscal Events. The evasive stimulus bill will drive headlines again this week. The Democratic Convention takes place this week through Thursday.
2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Empire State Manufacturing, NAHB Housing Index, housing starts, Philadelphia Fed Index, leading indicators and existing home sales.
3.Earnings Releases. Notable releases this upcoming week include JD ATHM WMT HD NVDA LOW BABA EL PDD DE.
Monday, August 17
August Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to fall to 15 from 17.2.
August NAHB Housing Market Index is due out at 10:00 a.m. EDT and is expected to rise to 74 from 72.
The Democratic National Conventions begins virtually and in Milwaukee. It will run through Thursday night when Democratic Presidential Nominee Joe Biden accepts the nomination.
Tuesday, August 18
July Housing Starts are due out at 8:30 a.m. EDT and is expected to rise to 1,230,000 from 1,186,000 in June.
Wednesday, August 19
None of note.
Thursday, August 20
August Philadelphia Fed Index is due out at 8:30 a.m. EDT and is expected to fall to 21 from 24.10.
July Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 1.1% from 2%.
Friday, August 21
July Existing Home Sales are due out at 10:00 a.m. EDT and are expected to grow by 5.39 million from 4.72 million last month.
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