Wall Street week ahead: Investors to focus on FOMC minutes, retailers’ earnings

The US Federal Reserve will release FOMC minutes from its July meeting on 16 August. Investors will try to get clues from the minutes on the monetary policy path ahead.

Retailers Walmart, Home Depot and Target will report their second quarter earnings next week.

The US Census Bureau will release the retail sales report for July on 15 August.

Next week earnings  of following companies are due — Suncor Energy, Rumble, Home Depot, Agilent Technologies , On Holding, CAVA Group, Cisco, TJX Companies, Target, JD.com, Brinker International, Walmart, Applied Materials, Ross Stores, Farfetch, Tapestry, Deere, Palo Alto Networks, and Estee Lauder.

Corporate events next week

The 3-day EnerCom Denver energy investment conference will start in Denver, Colorado.

On Friday, the US stock indices ended mixed after a choppy trading session.

The S&P 500 fell 4.78 points, or 0.11%, at 4,464.05. The Dow Jones Industrial Average edged up 105.25 points, or 0.3%, to 35,281.4.  The Nasdaq Composite lost 76.18 points, or 0.56%, to end at 13,644.85. According to the Labor Department report released on Friday, the US producer price index (PPI) for final demand rose 0.3% in July.

The yield on the 10-year treasury rose to 4.16% on Friday from 4.10% Thursday. The yield on two-year treasury climbed to 4.89%. 

On Friday, the US dollar rose to 144.97 Japanese yen from 144.72. The euro fell to $1.0951 from $1.0990.

Brent crude for October delivery added 41 cents to $86.81 a barrel on Friday. The US crude oil benchmark for September delivery gained 37 cents to $83.19 a barrel. 

Gold for December delivery fell $2.30 to $1,946.60 an ounce on Friday. Silver for September delivery lost 8 cents to $22.74 an ounce.

In Europe and Asia, the stock markets fell. 

Updated: 13 Aug 2023, 10:20 PM IST