The Week Ahead For August 30th to September 3rd

by Geoff Garbacz | 08/28/2021 2:02 PM
The Week Ahead For August 30th to September 3rd

The S&P 500, Dow Jones Industrial Average, Russell 2000 and NASDAQ 100 were all higher for the week.

1.Geopolitical and Fiscal Events. Congress is out again with both the House and Senate on vacation. The Supreme Court is still hearing cases and did rule on the eviction moratorium late Thursday like we thought they would.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as pending home sales, Chicago PMI, S&P Case-Schiller Home Price Index, consumer confidence, ADP Employment Report, ISM Manufacturing Index, construction spending, factory orders, nonfarm payrolls, unemployment rate and ISM Manufacturing Index.

3.Earnings Releases. Notable releases this upcoming week include ZM CTLT CRWD NTES VEEV CHWY AVGO DOCU HRL COUP. See the Earnings section of Chart Room for more details.

Monday, August 30th

July Pending Home Sales are due out at 10:00 a.m. EDT and is expected to rise to 0.5% from -1.9%.

Tuesday, August 31st

July S&P Case Schiller Home Price Index is due out at 9:00 a.m. EDT and is expected to come in at 17.6% from 17% in June.

August Chicago PMI is due out at 9:45 a.m. EDT and is expected to fall to 68 from 73.40.

August Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 123 from 129.10.

Lyra Therapeutics (LYRA) holds their analyst meeting and is a Type 4 Long Squeeze.

Wednesday, September 1

August ADP Employment Report is due out at 8:15 a.m. EDT and are expected to rise to 660,000 from 330,000.

August ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 58.5% from 59.5%.

July Construction Spending is due out at 10:00 a.m. EDT as well and is expected to rise to 0.2% from 0.1%.

Thursday, September 2

July Factory Orders are due out at 10:00 a.m. EDT and is expected to fall to 0.4% from 1.5%.

Friday, September 3

August Nonfarm Payrolls are due out at 8:30 a.m. EDT and expected to fall to 750,00 from 943,000. The unemployment rate is expected to fall to 5.2% from 5.4%.

August ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 62% from 64%.

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