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Sunday, August 11, 2024

Wall Street Breakfast: The Week Ahead

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Welcome to the Sunday edition of Wall Street Breakfast, which previews events for investors to watch during the upcoming week. If you want to receive this a day earlier, follow Stocks to Watch and select the option to receive email notifications.

Top News
RapidEye
Wall Street's attention next week will shift to inflation from the labor market, with the producer price index and consumer price index readings for July due on Tuesday and Wednesday, respectively. Also on tap will be retail sales data on Thursday.

The nonfarm payrolls report earlier this month sharply upended the narrative around monetary policy, stoking fears about a recession in the U.S. and sparking concerns that the Federal Reserve had waited too long to cut interest rates.

The second quarter earnings season will also continue to garner attention, with many heavyweight names scheduled to report. These include retail behemoths Walmart (WMT) and Home Depot (HD), networking giant Cisco (CSCO), Chinese e-commerce major Alibaba (BABA), and the world's largest maker of farm equipment, Deere (DE).
Earnings

Earnings spotlight: Monday, August 12 - Barrick Gold (GOLD), monday.com Ltd. (MNDY), and Rumble (RUM). See the full earnings calendar.

Earnings spotlight: Tuesday, August 13 - Home Depot (HD), Tencent Music (TME), and On Holding (ONON). See the full earnings calendar.

Earnings spotlight: Wednesday, August 14 - UBS Group (UBS), Cardinal Health (CAH), Brinker International (EAT), and Cisco (CSCO). See the full earnings calendar.

Earnings spotlight: Thursday, August 15 - Walmart (WMT), Alibaba (BABA), Applied Materials (AMAT), Deere (DE), JD.com (JD), and Tapestry (TPR). See the full earnings calendar.

Data
Volatility watch: Options trading volume is elevated on Black Diamond Therapeutics (BDTX) and Trump Media & Technology (DJT). The most overbought stocks per their 14-day Relative Strength Index include Investcorp India Acquisition (IVCA), G1 Therapeutics (GTHX), and Kellanova (K). The most oversold stocks per their 14-day Relative Strength Index include Pinterest (PINS), Snap (SNAP), and ODP Corp. (ODP). Short interest has moved higher on Spirit Airlines (SAVE) and Cassava Sciences (SAVA).
IPOs
IPO watch: YXT.COM Group Holding (YXT) is the only company expected to launch an IPO in the U.S. next week. The Chinese cloud-based digital corporate education platform business is looking to raise $50M. IPO quiet periods expire on Ardent Health Partners (ARDT), TWFG (TWFG), and Artiva Biotherapeutics (ARTV) to free up analysts to post ratings. The IPO lockup period expires for blocks of shares of Sacks Parente Golf (SPGC) and Chromocell Therapeutics (CHRO).
Seeking Alpha's Wall Street Breakfast Podcast
Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day.
 
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