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Morning Matters:

The Week Ahead For August 31st
by Geoff Garbacz

August 31, 2020

The NASDAQ 100, Dow Jones Industrial Average, Russell 200 and S&P 500 were higher for the week.

1.Geopolitical and Fiscal Events. The evasive stimulus bill will drive headlines for a third week. There are multiple Federal Reserve speakers this week.

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 ISM Manufacturing Index, ADP Employment, Factory Orders, Beige Book, ISM Non-Manufacturing Index, Nonfarm Payrolls and Unemployment Rate.

3.Earnings Releases. Notable releases this upcoming week include ZM SCSC HRB HOME CRWD CPRT AVGO DOCU COO CPB.

Monday, August 31 Federal Reserve Vice Chairman Richard Clarida at 9:00 a.m. EDT.

Federal Reserve Atlanta President Raphael Bostic will speak, time uncertain.

Tuesday, September 1

August ISM Manfacturing is due out at 10:00 a.m. EDT and is expected to rise to 54.5% from 54.2%.

July Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 1.0% from 0.70%.

Federal Reserve Governor Lael Brainard will speak, time uncertain.

Treasury Secretary Steven Mnuchin will testify before the House.

Wednesday, September 2

July Factory Orders is due out at 10:00 a.m. EDT and is expected to drop to 5.7% from 6.2%.

August ADP Employment Change Index is due out at 8:15 a.m. EDT and is expected to rise to 1,210,000 from 167,000.

Federal Reserve Beige Book is due out at 2:00 p.m. EDT.

Federal Reserve Presidents Williams, Mester and Daly all speak but time uncertain.

Alliant Energy (LNT) will hold their analyst meeting and is a Type 4. We note the stock does have an Erlanger Options Rank at 73% so there could be a Put Squeeze, upside move of 1 to 3 weeks emerging. Thursday, September 3

ISM Non-manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 56.7% from 58.1%.

Federal Reserve Chicago President Charles Evans will speak, time uncertain.

Friday, September 4

Monthly Nonfarm Payrolls is due out at 8:30 a.m. EDT and is expected to fall to 1.40 million from 1.763 million. The unemployment is expected to drop under 10% to 9.8% from 10.2%.

Markets are closed next Monday.

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