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Sunday, August 18, 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
Andrew Harnik/Getty Images News
The spotlight next week will be on the Federal Reserve's Jackson Hole symposium from August 22 to 24. Organized by the Kansas Fed, the symposium is one of the longest-standing central banking conferences in the world. The event will bring together economists, financial market participants, and U.S. government representatives to discuss long-term policy issues of mutual concern. Traders will be paying close attention to the speakers at the event, including Fed chief Jerome Powell, for any comments on monetary policy easing.

Also on the economic calendar is an update on new home sales and the minutes of the Fed's July monetary policy committee meeting.

The second quarter earnings season will start to wind down, but there are still some major names scheduled to report their results, including retailers Target (TGT) and TJX (TJX), cybersecurity firm Palo Alto Networks (PANW) and China's largest search engine provider Baidu (BIDU).
Earnings

Earnings spotlight: Monday, August 19 - Palo Alto Networks (PANW), Estee Lauder (EL), and Fabrinet (FN). See the full earnings calendar.

Earnings spotlight: Tuesday, August 20 - Lowe's Companies (LOW), Medtronic (MDT), Toll Brothers (TOL), Amer Sports (AS), XPeng (XPEV), and Coty (COTY). See the full earnings calendar.

Earnings spotlight: Wednesday, August 21 - TJX Companies (TJX), Analog Devices (ADI), Target (TGT), Snowflake (SNOW), Agilent (A), and Macy's (M). See the full earnings calendar.

Earnings spotlight: Thursday, August 22 - Intuit (NASDAQ:INTU), Toronto-Dominion Bank (TD), Workday (WDAY), Ross Stores (ROST), Peloton Interactive (PTON), Baidu (BIDU), CAVA Group (CAVA), and Viking Holdings (VIK).See the full earnings calendar.

Data
Volatility watch: Options trading volume is elevated on Sirius XM Holdings (SIRI) and Hawaiian Holdings (HA). The most overbought stocks per their 14-day Relative Strength Index include Lockheed (LMT), G1 Therapeutics (GTHX), and OneStream (OS). The most oversold stocks per their 14-day Relative Strength Index include Clearwater Paper (CLW), BlackRock TCP Capital (TCPC), and Seritage Growth Properties (SRG). Short interest has moved higher on Groupon (GRPN) and Dave (DAVE).
IPOs
IPO watch: Powell Max (PMAX) is expected to price its IPO and start trading in the week ahead. The holding company conducts operations via its unit in Hong Kong. Business and technology solutions provider Trident Digital Tech (NASDAQ:TDTH) is also expected to start trading. The quiet period ends for Lineage (LINE), OneStream (OS), and LATAM Airlines Group S.A. (LTM) to free up analysts to post ratings.
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