Wall Street week ahead: Focus on July inflation data
In the week ahead on the Wall Street, focus of investors will be on the inflation data for July and few major earnings.
The Consumer Price Index (CPI) report for July is slated to be released on 10 August and the Producer Price Index (PPI) report on 11 August.
Next week, earnings reports of following companies are due – Tyson Foods, Lucid Group, Skyworks Solutions, Paramount Global, Palantir Technologies, Eli Lilly, United Parcel Service, Coupang, Li Auto, Datadog, Disney, Trade Desk, Roblox, Wynn Resorts, Brookfield Asset Management, Alibaba, US Foods, Ralph Lauren, Spectrum Brands and Soho House.
Next week, investors will also be closely watching the US treasury yields, as the auctions of 3-year and 10-year notes and 30-year bonds will be going off at higher amounts than originally predicted.
In recent days, the treasury yields rattled the stock markets by rising to fresh year high.
Corporate events next week
Kellogg Company will hold an investor day on 9 August for institutional investors and analysts at the New York Stock Exchange (NYSE).
On Friday, US stocks dropped following mixed reports on thejob market.
The S&P 500 fell 0.5% at 4,478.03. The Dow Jones Industrial Average lost 0.4% at 35,065.62. The Nasdaq composite was down 0.4% at 13,909.24.
The US dollar on Friday fell at 141.86 Japanese yen from 142.71. The euro gained at $1.1010 from $1.0942.
The yield on the 10-year treasury fell to 4.04% on Friday from 4.18% late Thursday. The two-year treasury yield fell to 4.77% from 4.89%.
On Friday, Brent crude for October delivery rose $1.10 at $86.24 a barrel. US crude oil benchmark for September delivery rose $1.27 at $82.82 a barrel.
Gold for December delivery on Friday gained $7.30 at $1,976.10 an ounce. Silver for September delivery added 2 cents at $23.72 an ounce.
In Europe and Asia, stock market indices were mostly higher.
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Updated: 06 Aug 2023, 11:16 PM IST
