What to Expect in the Week Ahead (LI, DIS, BABA Earnings; July Inflation Data)

Moomoo Breakfast US wrote a column · Aug 6, 2023 19:40

What to Expect in the Week Ahead (LI, DIS, BABA Earnings; July Inflation Data)

Earnings season keeps on rolling this week. We'll also get a key inflation reading that will inform the Federal Open Market Committee's next interest rate decision.

$BioNTech(BNTX.US)$, and $Palantir(PLTR.US)$ Technologies are among the earnings highlights on Monday. They'll be followed by $Li Auto(LI.US)$ and $Rivian Automotive(RIVN.US)$ on Tuesday. $Disney(DIS.US)$, and $Roblox(RBLX.US)$ report on Wednesday. $Alibaba(BABA.US)$ wrap things up on Thursday.

The Bureau of Labor Statistics releases the consumer price index for July on Thursday. The consensus estimate is for the CPI to rise 3.3% year over year and the core CPI, which excludes volatile food and energy prices, to increase 4.7%. This compares with gains for 3.0% and 4.8%, respectively, in June. The CPI is at its lowest level since March of 2021, helping to fuel much of this year's stock market rally.

The University of Michigan releases its Consumer Sentiment Index for August on Friday. Expectations are for a 72 reading. Other economic data releases include the BLS' producer price index for July on Friday.

Monday 8/7

$BioNTech(BNTX.US)$, $Palantir(PLTR.US)$, and $Lucid Group(LCID.US)$ report quarterly results.

Tuesday 8/8

$Li Auto(LI.US)$, $AMC Entertainment(AMC.US)$, and $Rivian Automotive(RIVN.US)$ release earnings.

The National Federation of Independent Business releases its Small Business Optimism Index for July. Economists forecast a 90.8 reading, roughly even with June. The index has had 18 consecutive monthly readings below the 49-year average of 98.

Wednesday 8/9

$Disney(DIS.US)$, and $Roblox(RBLX.US)$ announce quarterly results.

Kellogg hosts an investor day at the New York Stock Exchange.

Thursday 8/10

$Alibaba(BABA.US)$ hold conference calls to discuss earnings.

The Bureau of Labor Statistics releases the consumer price index for July. Consensus estimate is for the CPI to rise 3.3% year over year and the core CPI, which excludes volatile food and energy prices, to increase 4.7%. This compares with gains for 3.0% and 4.8%, respectively, in June. The CPI is at its lowest level since March of 2021, helping to fuel much of this year's stock market rally.

Friday 8/11

The University of Michigan releases its Consumer Sentiment Index for August. Expectations are for a 72 reading.

The BLS releases the producer price index for July. The consensus call is for the PPI to increase 0.7% from a year earlier, six-tenths of a percentage point more than in June. The core PPI is seen rising 2.5%, after a 2.4% gain in June. The PPI is at the lowest level since the onset of the pandemic in early 2020.

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