Second-quarter earnings season continues going into this week, while some July inflation figures and consumer sentiment surveys will be highlights on this week’s economic calendar.
American International Group, Barrick Gold, BioNTech (ticker: BNTX), Dominion Energy, International Flavors & Fragrances, Take-Two Interactive Software, and Tyson Foods report earnings.
Quarterly results announced by Coinbase, Emerson Electric, Norwegian Cruise Line Holdings, Ralph Lauren, Sysco, TransDigm Group, and Welltower.
A special shareholder meeting organised by Nielson Holdings to seek approval to be acquired by a private-equity consortium led by Elliot Investment Management. The proposed deal valued the TV ratings firm at roughly $16 billion, including debt.
The Small Business Optimism Index for July released by The National Federation of Independent Business. The consensus estimate stands at an 89 reading, a figure lower than 89.5 figure, which was the lowest recorded figure since early 2013. Small-business owners that hold the expectation of better business conditions over the next six months stood at a net negative of 61% in June, the lowest level ever recorded in the 48-year history of the survey.
Preliminary employee compensation plus productivity data for the second quarter released by The Bureau of Labour Statistics. The expectation is for unit labour costs to increase at a seasonally adjusted annual rate of 6.7%, while productivity remains at a declining 4.1%. This contrasts with a 12.6% jump and a 7.3% decline in the first quarter.
Walt Disney releases fiscal- third quarter 2022 results.
The consumer price index for July released by The Bureau of Labour Statistics. Economists’ expectation stands at an 8.7% year-over-year rise, compared with a 9.1% increase in June. The core CPI, excluding the volatile food and energy prices, is seen rising 6.1% versus a 5.9% gain previously. The 9.1% reading was the highest recorded reading since 1981, while the core CPI is off from the recent high of 6.5% in March. The S&P 500 index climbed 9.1% in July, its best performance since November 2020, in anticipation of a less hawkish Federal Reserve on the assumption that inflation has hit its peak.
The Bureau of Labour Statistics releases its producer price index for the month of July. The consensus estimate stands at a 10.4% year-over-year increase, a drop from June’s 11.3%. The core PPI, which excluding the food and energy prices, is expected to increase by 7.7%, a drop from 8.2%.
Quarterly results discussed via conference call held by Brookfield Asset Management, Cardinal Health, Illumina, ResMed, and Rivian Automotive.
Broadbridge Financial Solutions report earnings.
Consumer Sentiment Index for August was released by The University of Michigan. The consensus call stands a 53 reading, slightly higher than July’s 51.5. The index is near its record low, especially because inflation remains top of mind for consumers.