Wall Street week ahead: Investors eye inflation, retail sales, Trump-Putin meet
In economic calendar, market participants will closely watch the two inflation reports – the Consumer Price Index and the Producer Price Index, and retail sales data.
The investors and Federal Reserve policymakers will keep a close eye on the economic data for any effects of Trump's tariffs on inflation.
Friday will see the scheduled meeting between Trump and Putin.
Earlier, the US president had expressed hope that a ceasefire between Russia and Ukraine could be near. It could involve "some swapping of territories" between the two warring nations.
On August 12 (Tuesday), separate reports on NFIB optimism index for July and Consumer Price Index (CPI) for July will be released.
On August 14 (Thursday), separate reports on initial jobless claims for the week ended August 9 and Producer Price Index (PPI) for July will be released.
On August 15 (Friday), separate reports on US retail sales for July, Empire State manufacturing survey for August, Import Price Index for July, industrial production for July, and consumer sentiment (prelim) for August will be released.
Following companies are due to report second quarter results in the week ahead — AMC Entertainment, Barrick Mining, Oklo, Plug Power, CoreWeave, eToro, Paysafe, Cisco, Alvotech, Alibaba, Applied Materials, Flowers Foods, and So-Young International.
US stocks closed higher on Friday with the Nasdaq hitting a record closing high as technology-related shares, including Apple, surged.
The Dow Jones Industrial Average rose 206.97 points, or 0.47%, to 44,175.61, the S&P 500 gained 49.45 points, or 0.78%, to 6,389.45 and the Nasdaq Composite gained 207.32 points, or 0.98%, to 21,450.02.
For the week, the S&P 500 rose 2.4%, the Dow gained 1.3% and the Nasdaq climbed 3.9%.
The yield on the 10-year Treasury rose to 4.28% from 4.25%. The yield on the 2-year Treasury rose to 3.76% from 3.73%.
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