U.S. stocks are poised for a slightly higher open on Monday, ahead of Federal Reserve Chairman Jerome Powell’s highly anticipated remarks at the central bank’s annual conference in Jackson Hole, Wyo.
At 6:20 p.m. Eastern Time on Sunday, Dow Jones Industrial Average futures gained 14 points, or less than 0.1%; while the S&P 500 futures gained 0.1%; and Nasdaq Composite futures gained 0.3%.
Crude oil futures (West Texas Intermediate, the U.S. standard) inched up less than 0.1%, to $81.28 a barrel. Brent crude, the international standard, fell 0.2% to $84.62 a barrel.
This week’s notable earnings include: Nordson and Zoom Video Communications on Monday; Baidu, BJ’s Wholesale Club, Coty, Dick’s Sporting Goods, La-Z-Boy, Lowe’s, Macy’s, Medtronic, Toll Brothers, and Urban Outfitters on Tuesday;
Abercrombie & Fitch, Advance Auto Parts, Analog Devices, Autodesk, Bath & Body Works, Foot Locker, Guess?, Kohl’s, Nvidia, NetApp, Peloton Interactive, Snowflake, and Williams-Sonoma on Wednesday;
Affirm Holdings, Burlington Stores, Dollar Tree, Gap, Intuit, Nordstrom, Petco Health & Wellness, Ulta Beauty, and Workday report earnings on Thursday.
Notable economic events this week include: On Tuesday, the National Association of Realtors will report existing-home sales for July. On Wednesday, the Census Bureau and the Department of Housing and Urban Development will release new-home sales data for July, and Markit will release its manufacturing and services purchasing managers’ indexes for August.
On Thursday, the Census Bureau will release its durable goods report for July, and the Labor Department will report initial claims for unemployment benefits the week ending Aug. 19.
From Thursday through Saturday, the Federal Reserve Bank of Kansas City will host its 2023 Economic Policy Symposium on “Structural Shifts in the Global Economy” in Jackson Hole, Wyo.
On Friday, the University of Michigan releases the final results for its Consumer Sentiment Index for August.
Write to Janet H. Cho at [email protected]
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