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18 minutes ago
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What To Expect in Markets This Week: Fed Chair Remarks, Home Sales, Walmart and Home Depot Earnings
Key Takeaways Federal Reserve Chair Jerome Powell is set to deliver closely watched remarks on Friday, potentially signaling how the central bank could approach interest rates. Walmart, Home Depot, Target, and Lowe's are scheduled to report earnings, giving insight into consumer spending patterns and tariff pressures. Housing market data, Fed meeting minutes, and weekly jobless claims also will attract attention this week. Get ready to hear a lot about Jerome Powell. Remarks from the Federal Reserve chair will likely demand market watchers' attention this week as investors seek clarity over the central bank's next interest-rate moves. Powell has been under pressure to produce rate cuts, but recent economic data has put officials in a tough position. Traders also will be following earnings expected from major retailers, including Walmart, Target, Home Depot, Lowe's, and Ross Stores. Investors will watch for signs of tariff-driven inflation and fading consumer sentiment. Housing market data, Fed meeting minutes, and weekly jobless claims also could have an impact on markets this week. The major U.S. indexes logged gains last week, with the Dow touching an intraday record on Friday. Read to the bottom for our calendar of key events—and one more thing. Investors Look to Powell Remarks for Clarity on Interest- Rate Path Attention will turn toward the American West this week. At the annual Jackson Hole Economic Policy Symposium, Powell is expected to lead a lineup of speakers that includes central bankers, economists, and top officials. Economists are seeing more likelihood that the Fed will cut interest rates at its next meeting as the central bank faces relentless pressure from President Donald Trump and other administration officials to lower borrowing costs when it next meets in September. The Fed hasn't lowered rates since last December and now finds itself in a tough position, said BMO Senior Economist Jennifer Lee, with inflation ticking higher while the job market looks weaker than thought. 'Can't imagine the pressure on Fed Chair Powell ahead of the Jackson Hole gathering,' Lee wrote in a recent blog post. The minutes for the July meeting of the Federal Open Market Committee will provide a look into the Fed's view of interest rates and the economy and could add insight about the actions of two committee members who split from their colleagues to vote in favor of a rate cut last month. Housing market data and jobless claims also will be released this week. Walmart, Target Earnings Due as Tariff Pressures Loom As Trump's tariffs begin to show some impact on inflation, earnings reports from large retailers will show if the import taxes are hitting their sales. Walmart's (WMT) scheduled report on Thursday comes after the retailer said it would look to price increases to help balance the costs of tariffs. Home Depot (HD) has said it was attempting to maintain its pricing structure, with investors getting more details on the hardware retailer with its report set for Tuesday. Target's (TGT) expected Wednesday report follows warnings in the prior quarter that sales may move lower than originally projected. Sales also seen softening for T.J. Maxx parent TJX (TJX), which said in the prior quarter that tariffs are expected to impact revenue figures. Other noteworthy retailers scheuled to report this week include home improvement chain Lowe's (LOW) and discount retailer Ross Stores (ROST). Quick Links: Recap Last Week's Trading | Read Investopedia's Latest News This Week's Calendar Monday, Aug. 18 Homebuilder confidence (August) Key Earnings: Palo Alto Networks (PANW) Tuesday, Aug. 19 Housing starts (July) Key Earnings: Home Depot, Medtronic (MDT), Keysight Technologies (KEYS), Viking Holdings (VIK), XPeng (XPEV), Toll Brothers (TOL) Wednesday, Aug. 20 FOMC minutes for July meeting Fed Officials Speaking: Atlanta Fed President Raphael Bostic Key Earnings: TJX Cos., Lowe's, Analog Devices (ADI), Target, Estee Lauder (EL), Baidu (BIDU) Thursday, Aug. 21 Existing home sales (July) Fed Officials Speaking: Atlanta Fed President Raphael Bostic, Jackson Hole Economic Policy Symposium begins Key Earnings: Walmart, Intuit (INTU), Workday (WDAY), Ross Stores Data to Watch: Initial jobless claims (Week ending Aug. 16), Philadelphia Fed manufacturing survey (August), S&P Flash U.S. PMI (August), U.S. leading economic indicators (July) Friday, Aug. 22 Expected remarks from Fed Chair Jerome Powell at Jackson Hole symposium Key Earnings: BJ's Wholesale Club (BJ) One More Thing Social Security celebrates its 90th anniversary this month, but fewer Americans are confident in the program's long-term financial stability. Investopedia's Aaron McDade has more on the potential benefit reductions that the program faces. Read the original article on Investopedia 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
Yahoo
18 minutes ago
- Yahoo
Protestors go on strike in Israel demanding ceasefire and hostage releases
Protestors go on strike in Israel demanding ceasefire and hostage releases JERUSALEM (AP) — Police in Israel made more than two dozen arrests on Sunday for 'disruption of order' as families of hostages held in Gaza step up their campaign with a nationwide strike. Police said that most of the protests had not been disruptive, but acknowledged several exceptions and said they 'will act firmly against anyone who violates the law or endangers public order.' The arrests come as some businesses, theaters and restaurants close in solidarity and Israel's leaders plan a new offensive into Gaza City. THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below. JERUSALEM (AP) — Protestors in Israel demanding their government make a deal to secure the release of hostages held by militants in Gaza escalated their campaign on Sunday, staging a strike that snarled traffic and shuttered businesses. The action organized by the Hostages and Missing Families Forum marked a fresh push, weeks after militant groups released videos of hostages and Israel signaled plans for a new Gaza offensive. Protesters fear further fighting could endanger the 50 hostages believed to remain in Gaza, only about 20 of whom are thought to be alive. They chanted, 'We don't win a war over the bodies of hostages' and demanded a deal. Netanyahu's allies oppose any deal that leaves Hamas in power 'Today, we stop everything to save and bring back the hostages and soldiers. Today, we stop everything to remember the supreme value of the sanctity of life,' said Anat Angrest, mother of hostage Matan Angrest. 'Today, we stop everything to join hands — right, left, center and everything in between.' Although Israel's largest labor union, Histadrut, ultimately did not join Sunday's action, strikes of this magnitude are relatively rare in Israel. Many businesses and municipalities decided independently to strike. Still, an end to the conflict does not appear near. Prime Minister Benjamin Netanyahu has demanded the immediate release of the hostages but is balancing competing pressures, haunted by the potential for mutiny within his coalition. Far-right members of his cabinet insist they won't support any deal that allows Hamas to retain power. The last time Israel agreed to a ceasefire that released hostages, they threatened to topple Netanyahu's government. Finance Minister Bezalel Smotrich on Sunday called the stoppage 'a bad and harmful campaign that plays into Hamas' hands, buries the hostages in the tunnels and attempts to get Israel to surrender to its enemies and jeopardize its security and future.' Israeli airstrike hits power plant in Yemen Israeli airstrikes hit Yemen's capital Sunday, escalating strikes on Iran-backed Houthis, who since the war began have fired missiles at Israel and targeted ships in the Red Sea. Both the IDF and a Houthi-run television station in Yemen announced the strikes. Al-Masirah Television said they targeted a power plant in the southern district of Sanhan, sparking a fire and knocking it out of service, the Yemeni station said. Israel's military said Sunday's strikes targeted energy infrastructure it claimed was being used by the Houthis, and were launched in response to missiles and drones aimed at Israel. While some projectiles have breached its missile defenses — notably during its war with Iran in June — Israel has intercepted the vast majority of missiles launched from Yemen. More tents sent to Gaza ahead of new displacement order While demonstrators in Israel demanded a ceasefire, Israel began preparing for an invasion of Gaza City and other populated parts of the besieged strip, aimed at destroying Hamas. The military body that coordinates its humanitarian aid to Gaza said Sunday that the supply of tents to the territory would resume. COGAT said it would allow the United Nations to resume importing tents and shelter equipment into Gaza ahead of plans to forcibly evacuate peopel from combat zones 'for their protection.' Tents and the majority of assistance has been blocked from entering Gaza since Israel imposed a total blockade in March after a ceasefire collapsed. Deliveries have since partially resumed, though aid organizations say the flow is far below what is needed. Some have accused Israel of 'weaponizing aid' through blockades and rules they say turn humanitarian assistance into a tool of its political and military goals. Israel's air and ground war has already killed tens of thousands of people in Gaza and displaced most of the population. The United Nations is warning that levels of starvation and malnutrition in Gaza are at their highest since the war began. The Hamas-led attack in 2023 killed around 1,200 people in Israel. Israel's retaliatory offensive has killed 61,897 people in Gaza, according to the Health Ministry, which does not specify how many were fighters or civilians but says around half were women and children. The ministry is part of the Hamas-run government and staffed by medical professionals. The U.N. and independent experts consider it the most reliable source on casualties. Israel disputes its figures but has not provided its own. ___ Melzer reported from Nahariya, Israel. AP writer Samy Magdy contributed from Cairo. ___ Follow AP's war coverage at Sam Metz And Natalie Melzer, The Associated Press
Yahoo
18 minutes ago
- Yahoo
Home-Improvement Chains' Earnings Could Show How Affluent Americans Are Spending
Key Takeaways Home Depot and Lowe's have said the homeowners who typically turn to them for remodeling jobs generally have been holding off on renovations due to high interest rates. The companies' earnings, scheduled for this week, may provide fresh insight on whether homeowners' mindsets have shifted. The customers Home Depot caters to are relatively affluent and likely can withstand higher inflation and prices, the company has said. Are affluent Americans still spending? Two big home improvement retailers could offer clues about that later this week. Homeowners renovating kitchens and retiling bathrooms have long been crucial parts of the business at Home Depot (HD) and Lowe's (LOW). These customers have the means to fund large projects—but, in recent years, have been trying to wait out high interest rates, Home Depot CEO Edward "Ted" Decker said in April. This spring, he said, some changed their minds, deciding interest rates are likely to remain elevated, and waiting was unlikely to reduce the cost of borrowing. We may get a better sense of how their thinking has evolved on Tuesday, when Home Depot is slated to release its second-quarter results, and Wednesday, when Lowe's is scheduled to post its numbers. The updates come as economists speculate that the central bank may lower interest rates in September. Home Depot, Lowe's Same-Store Sales Fell Earlier This Year Higher prices and surges in inflation are unlikely to destabilize Home Depot's core customer: homeowners who earn an average of $110,000 annually, Decker said while discussing the company's first-quarter results on a conference call in May. 'Our customer, from a broad basis, is one of the strongest in the economy,' he said, according to a transcript made available by AlphaSense. "We've talked about how much home price appreciation they've seen over the past year. Stock markets have recovered, job and wage growth are strong.' Higher interest rates 'created a deferral mindset,' CFO Richard McPhail said in April. That's led to an estimated $50 billion drop-off in home improvement spending in recent years, according to comments from both companies' leaders. There are signs that those deferrals may continue. Just over a quarter of Americans surveyed in August said they expect to spend more on home improvement in the coming three months, down from more than 30% a year earlier, according to Bank of America research. Wall Street Sees Both Companies Reporting Sales, Earnings Growth Home Depot and Lowe's each reported year-over-year declines in comparable store sales in the first quarter, though the former said "big-ticket" transactions worth $1,000 or more rose 0.3%. Appliance sales were brisk, but purchases for remodeling jobs—the type that may require financing or borrowing against one's home equity—remained soft, executives said. Foot traffic fell year-over-year at both chains during the second quarter, but improved over the course of the period, according to a visit-tracking group. Analysts think both companies will report a 1.1% year-over-year increase in comparable store sales, according to consensus estimates from Visible Alpha. Analysts estimate Home Depot will report $45.3 billion in sales, up from the $43.2 billion brought in the same quarter last year, according to Visible Alpha. They're looking for $6.8 billion in adjusted earnings—a bit more than the $6.6 billion reported last year. Lowe's is forecast to report $24 billion in sales, a tick above the $23.6 billion reported last year, according to Visible Alpha. Wall Street is anticipating $3.5 billion in adjusted earnings, compared with the $3.4 billion reported a year earlier. Read the original article on Investopedia Sign in to access your portfolio
