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The semi-final of the US earnings season is here with Walmart, Cisco Systems and Deere & Co some of the companies due to report earnings this week. The Reserve Bank of Australia and FOMC are due to release their monetary policy meeting minutes and the UK will post its retail sales data. What else should investors look out for?

 

Monday

 

The semi-final of US earnings season 

 

At the start of the month, Goldman Sachs analysts said that the US earnings season has performed better than expected. By the start of last week, 87% of S&P 500 companies have reported earnings, 75% of those companies reported that their earnings per share (EPS) surpassed estimates. This week is the US earnings semi-final. While Monday is relatively quiet, later in the week investors should anticipate Walmart (WMT), Cisco Systems (CSCO), Applied Materials (AMAT) and Deere & Co (DE) all reporting their financial results.

 

 

Tuesday

 

How is Walmart holding up?

 

At the end of July, Walmart shares slumped after the retailer cut its profit outlook on inflation concerns. Back then, Walmart said that it anticipates its adjusted earnings per share for the second quarter and full year to fall between 8 and 9% and 11 and 13% respectively. Previously, it expected them to be flat or slightly higher. What will the company’s earnings report show now?

 

Reserve Bank of Australia (RBA) meeting minutes

 

The Reserve Bank of Australia decided to hike interest rates by 50 basis points (bps) to 1.75%. Cash rate was raised to 1.87%. Inflation in the country is the highest it has ever been since the 1990’s at 6.1% in June. The RBA’s meeting minutes could suggest to investors what the bank’s stance is on further rate hikes.

 

Wednesday

 

Reserve Bank of New Zealand (RBNZ) monetary policy meeting

 

The Reserve Bank of New Zealand hiked interest rates by 50 basis points in July for the third straight meeting in a row. Then, the central bank said it will continue to tighten its monetary policy “at pace” until inflation settles down. Inflation in June in New Zealand surged past 7% – a 32-year high.

 

FOMC meeting minutes

 

The Federal Reserve raised interest rates by 75 basis points at its two past meetings. FOMC meeting minutes are due to be released late on Wednesday, what else did officials talk about during the meeting?

 

Friday

 

UK retail sales data

 

Consumer spending in the UK in July was stronger than pre-pandemic levels, however, the sector warned of an “incredibly difficult period”. UK retail sales grew 2.3% in July compared with the same period one year ago. What will the new values suggest?

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Walmart (WMT) PMO 

   

   

    

   

 

Economic calendar (BST) 

Mon Aug 15 

1:30am 

NZD 

BusinessNZ Services Index 

 

2:01am 

GBP 

Rightmove HPI m/m 

 

2:50am 

JPY 

Prelim GDP Price Index y/y 

 

 

JPY 

Prelim GDP q/q 

 

5:00am 

CNY 

Retail Sales y/y 

 

 

CNY 

Fixed Asset Investment ytd/y 

 

 

CNY 

Industrial Production y/y 

 

 

CNY 

NBS Press Conference 

 

 

CNY 

Unemployment Rate 

 

7:30am 

JPY 

Revised Industrial Production m/m 

 

15th-16th 

EUR 

German WPI m/m 

 

9:30am 

CHF 

PPI m/m 

 

All Day 

EUR 

French Bank Holiday 

 

All Day 

EUR 

Italian Bank Holiday 

 

Tentative 

EUR 

German Buba Monthly Report 

 

Tentative 

EUR 

German 10-y Bond Auction 

 

3:30pm 

CAD 

Manufacturing Sales m/m 

 

 

CAD 

Wholesale Sales m/m 

 

 

USD 

Empire State Manufacturing Index 

 

5:00pm 

USD 

NAHB Housing Market Index 

 

11:00pm 

USD 

TIC Long-Term Purchases 

Tue Aug 16 

4:30am 

AUD 

Monetary Policy Meeting Minutes 

 

7:30am 

JPY 

Tertiary Industry Activity m/m 

 

9:00am 

GBP 

Average Earnings Index 3m/y 

 

 

GBP 

Claimant Count Change 

 

 

GBP 

Unemployment Rate 

 

12:00pm 

EUR 

Trade Balance 

 

 

EUR 

ZEW Economic Sentiment 

 

 

EUR 

German ZEW Economic Sentiment 

 

3:15pm 

CAD 

Housing Starts 

 

3:30pm 

CAD 

CPI m/m 

 

 

CAD 

Common CPI y/y 

 

 

CAD 

Median CPI y/y 

 

 

CAD 

Trimmed CPI y/y 

 

 

CAD 

Core CPI m/m 

 

 

CAD 

Foreign Securities Purchases 

 

 

USD 

Building Permits 

 

 

USD 

Housing Starts 

 

4:15pm 

USD 

Capacity Utilization Rate 

 

 

USD 

Industrial Production m/m 

 

Tentative 

NZD 

GDT Price Index 

Wed Aug 17  

1:45am 

NZD 

PPI Input q/q 

 

 

NZD 

PPI Output q/q 

 

2:50am 

JPY 

Core Machinery Orders m/m 

 

 

JPY 

Trade Balance 

 

3:30am 

AUD 

MI Leading Index m/m 

 

4:30am 

AUD 

Wage Price Index q/q 

 

5:00am 

NZD 

Official Cash Rate 

 

 

NZD 

RBNZ Monetary Policy Statement 

 

 

NZD 

RBNZ Rate Statement 

 

Tentative 

NZD 

RBNZ Statement of Intent 

 

6:00am 

NZD 

RBNZ Press Conference 

 

9:00am 

GBP 

CPI y/y 

 

 

GBP 

Core CPI y/y 

 

 

GBP 

PPI Input m/m 

 

 

GBP 

PPI Output m/m 

 

 

GBP 

RPI y/y 

 

11:00am 

CHF 

Credit Suisse Economic Expectations 

 

11:30am 

GBP 

HPI y/y 

 

12:00pm 

EUR 

Flash Employment Change q/q 

 

 

EUR 

Flash GDP q/q 

 

3:30pm 

USD 

Core Retail Sales m/m 

 

 

USD 

Retail Sales m/m 

 

5:00pm 

USD 

Business Inventories m/m 

 

5:30pm 

OIL 

Crude Oil Inventories 

 

9:00pm 

USD 

FOMC Meeting Minutes 

Thu Aug 18 

4:30am 

AUD 

Employment Change 

 

 

AUD 

Unemployment Rate 

 

12:00pm 

EUR 

Final CPI y/y 

 

 

EUR 

Final Core CPI y/y 

 

3:30pm 

CAD 

IPPI m/m 

 

 

CAD 

NHPI m/m 

 

 

CAD 

RMPI m/m 

 

 

USD 

Philly Fed Manufacturing Index 

 

 

USD 

Unemployment Claims 

 

5:00pm 

USD 

Existing Home Sales 

 

 

USD 

CB Leading Index m/m 

 

5:30pm 

Nat Gas 

Natural Gas Storage 

Fri Aug 19 

1:45am 

NZD 

Trade Balance 

 

2:01am 

GBP 

GfK Consumer Confidence 

 

2:30am 

JPY 

National Core CPI y/y 

 

6:00am 

NZD 

Credit Card Spending y/y 

 

9:00am 

CHF 

Trade Balance 

 

 

EUR 

German PPI m/m 

 

 

GBP 

Retail Sales m/m 

 

 

GBP 

Public Sector Net Borrowing 

 

11:00am 

EUR 

Current Account 

 

3:30pm 

CAD 

Core Retail Sales m/m 

 

 

CAD 

Retail Sales m/m 

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