The NASDAQ 100 was lower as were the Dow Jones Industrial Average, Russell 2000 and S&P 100 thanks to “The Chosen One”. Stocks were nicely up for the week when they collapsed on Friday at 11:00 a.m. EDT thanks to a Twitter trade tantrum from the president. Futures remain in a downtrend in earlier trading on Sunday night.
1.Geopolitical and Fiscal Events. Congress is still on summer recess.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as durable goods, consumer confidence, Q2 GDP, pending home sales, Chicago PMI and University of Michigan Consumer Sentiment.
3.Earnings Releases. Notable releases this upcoming week include BILI OSIS BNS BMO OKTA TIF TD WDAY CPB BIG.
Monday, August 26th
July Durable Goods are due out at 8:30 a.m. EDT and are expected to fall to 1.2% from 2.0%.
The latest NYSE and NASDAQ Short Interest are due out after the close.
Tuesday, August 27th
August Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 129.60 from 135.70.
Wednesday, August 28th
None of note. Thursday, August 29th
Q2 GDP (revision) is due out at 8:30 a.m. EDT and is expected to fall to 2.0% from 2.1%.
July Pending Home Sales are due out at 10:00 a.m. EDT and are expected to fall to 0.1% from 2.8%.
Friday, August 30th
July Personal Income is due out at 8:30 a.m. EDT and is expected to fall to 0.3% from 0.4%.
August Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 48.2% from 44.4%.
August University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 92.4 from 92.1.