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Retail stocks Big Lots and Dick's Sporting Goods will report earnings
Don't let the beginning of the week fool you, there is plenty of economic data on the way, and an earnings docket chock-full of big names -- most notably from the retail sector. Starting with economic data, investors will pore over the gross domestic product (GDP) update and Chicago Fed national activity index, before moving on to home data in the form of the Case-Shiller home price index and new home sales. The week will round out with a peek at consumer data, alongside the Chicago purchasing managers index (PMI). As previously mentioned, the earnings docket will include some big retail names, including Best Buy (BBY), Urban Outfitters (URBN), Dick's Sporting Goods (DKS), Dollar General (DG), and Big Lots (BIG).
Below is a brief list of some key market events and a few high-profile earnings releases scheduled for the upcoming week. All earnings and economic dates listed below are tentative and subject to change. Please check with each company's respective website
for official reporting dates.
Monday, August 24, will start the week with the Chicago Fed national activity index in terms of economic data. Meanwhile, Palo Alto Networks (PANW) will step into the earnings confessional.
Economic data featured on Tuesday, August 25 includes the consumer confidence index, Case-Shiller home price index, and new home sales. Earnings will pick up, with Best Buy, Hewlett Packard Enterprise (HPE), Hormel Foods (HRL), Intuit (INTU), J.M. Smucker (SJM), Salesforce.com (CRM), Pure Storage (PSTG) and Urban Outfitters all reporting.
On Wednesday, August 26, investors will keep an eye on durable and core capital goods orders. The earnings docket is relatively full, with reports from Bilibili (BILI), Dick's Sporting Goods, Five Below (FIVE), Guess? (GES), Tiffany & Co (TIF), and Williams-Sonoma (WSM) rolling in.
On Thursday, August 27, hot on the docket will be gross domestic product data (GDP). Further, a fresh batch of initial and continuing jobless claims data is due out, while pending home sales data will also be delivered. Meanwhile, Abercrombie & Fitch (ANF), Burlington Stores (BURL), Coty (COTY), Dell (DELL), Dollar General, Dollar Tree (DLTR), Gap (GPS), HP (HPQ), Ollie's Bargain Outlet (OLLI), and Ulta Beauty (ULTA) will all report.
Notable economic data lined up for Friday, August 28 includes data on personal income, consumer spending, core inflation, and consumer sentiment, while the Chicago purchasing managers index (PMI) will also be reported on. Meanwhile, Big Lots, Campbell Soup (CPB), and Hibbett Sporting (HIBB) will toss their hats in the earnings ring to end the week.