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BJ's earnings, Chair Powell's Jackson Hole speech: What to Watch
Market Domination Overtime host Josh Lipton takes a look at the top stories for investors to watch on Friday, Aug. 22. BJ's Wholesale (BJ) will report second quarter earnings results in the morning after a full week of retail earnings, offering more insight into the state of the consumer. The Kansas City Federal Reserve's annual Jackson Hole Economic Symposium will continue into its second day, when Fed Chair Jerome Powell will deliver his final speech as chairman for the event. Markets will be listening for any possible signals from Powell on how the Fed will proceed with interest rates in September. Tune in to Yahoo Finance on Friday for continued coverage of the Fed event and of Powell's speech at 10 a.m. To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime. Time now for to watch Friday, August 22nd. We're going to start off on the earnings front here. I'm going to be getting more reports on Friday, including another key name in the retail sector with BJ's wholesale. BJ's announced results for the second quarter before the markets open. Now it's expecting sales momentum to come in solid for Q2, with the retailer still benefiting from shoppers looking for value and low prices. And the company's membership price hike earlier this year given a bigger boost to revenue. This is coming against the backdrop of what's been mixed earnings results from retailers like Walmart and Target this quarter. Sector still battling a challenging inflationary environment. And taking a look at the Federal Reserve, all eyes will be on Fed chair Jerome Powell's speech at the Jackson Hole Economic Symposium on Friday. Fed watchers will be focusing in on whether Powell provides any signals about his willingness to cut interest rates at the Central Bank's September FOMC meeting. Yahoo Finance will have continuing coverage from Jackson Hole, including Powell's speech at 10:00 a.m. Eastern.
Yahoo
23 minutes ago
- Yahoo
This Clip Of Sean Hannity Trying To Take Down Gavin Newsom Is Going Viral For His Complete Lack Of Self-Awareness
Sean Hannity's attempted slam of California Gov. Gavin Newsom (D) was irony defined for many of the Fox News host's critics. On Wednesday, Hannity devoted several minutes of his prime-time show to attacking Newsom, who has recently taken to trolling Donald Trump on social media by mimicking the president's bombastic and combative tone. Related: Top Trump ally Hannity denounced Newsom, a potential 2028 Democratic presidential contender, as a 'radical' whose policies had wrecked California and dismissed his Trump impersonations as 'embarrassing.' Then came the line that went viral: 'I have a point. Results matter. A new performative, confrontational style. Maybe it wins you points with the loony, radical base in your party. But America is not going to vote for that record.' You can watch the full clip here: @Acyn / Fox News / Via Related: Critics pounced on the remark, arguing it sounded more like a description of Trump — and Hannity himself — than of the governor. @truthstreamnews / Via @KeysToTheRace / Via Related: @ChefjparkJohn / Via @marysupoppinz/ / Via @JasonPYYC / Via Related: @robfirsching / Via @AllwhichIam / Via This article originally appeared on HuffPost. Also in In the News: Also in In the News: Also in In the News:
Yahoo
23 minutes ago
- Yahoo
Brace for Jerome Powell's Jackson Hole speech to drive big swings in this corner of the stock market, BofA says
Markets are bracing for Jerome Powell's speech at Jackson Hole on Friday. Nervousness ahead of the Fed chair's remarks helped spark a sell-off in some high-flying growth shares this week. BofA says that Powell's comments will result in a big impact for small-cap stocks. A sell-off in high-flying growth stocks this week hints at nervousness ahead of Jerome Powell's remarks at Jackson Hole, but there's another area of the stock market where investors should be prepared to see outsize swings after the Fed chief speaks on Friday. Analysts at Bank of America wrote this week that small-caps are likely to see big moves in either direction on the back of Powell's comments on the path of monetary policy during the Fed's annual policy symposium. In an August 20 note, analyst Jill Carey Hall wrote that the speech could prove to be a significant near-term catalyst for the Russell 2000, the index of small-mid cap companies, depending on what it reveals. "A dovish speech could spur a rally, while a more hawkish one could spur near-term downside given market pricing for two cuts by year-end," she said. Powell's speech is expected to set the tone for monetary policy for the rest of the year. A dovish nod toward rate cuts in September and beyond is expected to be a bullish driver for stocks, but there's some doubt over how accommodating the Fed chief will be after the latest round of economic data was a mixed bag. The CME FedWatch Tool shows 73% odds of a rate cut in September, down from nearly 100% a week ago. The analyst added that stocks in the small-cap category have historically outperformed larger peers during rate-cutting cycles that played out close to periods of economic recession. However, in non-recessionary times, their performance has been more mixed. Other investing experts have expressed similar optimism for small- and mid-cap stocks amid the Russell 2000's outperformance over the S&P 500 in the last month. However, the question of whether the US economy is headed toward a recession is presently unclear. "Despite the recent weak employment report, we continue to expect the US economy to avoid recession in 2025," Ben Herzon, economics director at S&P Global Market Intelligence, recently said. Moody's economist Mark Zandi recently said that the US is not in a recession yet, though he sees it as a strong possibility. As such, uncertainty remains high as the market prepares for Powell's address, especially since views are divided over whether he will signal a shift toward a more dovish policy stance. What is clear is that small-cap companies have a lot riding on his speech. As Carey Hall added, "A cut in the absence of weaker macro data could be more positive than historically, given the increased sensitivity of small caps to interest rates/elevated refinancing risk." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
