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The week ahead: 22/08/22

The US housing market is in the spotlight with new and pending home sales figures due this week. Other notable macroeconomic data includes German and US GDP updates and, in Japan, the Tokyo CPI. Companies reporting include Salesforce, Nvidia, PetroChina, VMware, Marvell, Workday and Hays.

Monday 22 August

It’s a relatively quiet start to the week, with earnings scheduled from cybersecurity firm Palo Alto Networks. Also in the US look out for the Chicago Fed’s national activity index for July, due at 1.30pm (UK time).

Buy and sell global stock indices with Intertrader.

Tuesday 23 August

On Tuesday business software developer Intuit reports to the market, along with medical equipment maker Medtronic, Chinese online retailer JD.com, US food brand owner JM Smucker, car parts provider Advance, energy and chemical company Sasol, property firm TAG Immobilien and retailers Dick’s Sporting Goods, Macy’s, Nordstrom and Urban Outfitters. We’ll also see flash manufacturing and services PMI data for Japan, France, Germany, the eurozone, the UK and the US, plus the latest US new home sales. Figures for June showed cooling demand in the US housing market, sales of new homes falling 8.1% month-on-month.

Wednesday 24 August

Dow component Salesforce releases its quarterly update on Wednesday. Earlier this month the CRM software firm announced a reshuffle of its executive board. We’ll also get figures from GPU designer Nvidia, software companies Autodesk and Splunk, and US retail group Williams-Sonoma. Among the macroeconomic data, keep an eye out for US durable goods orders and pending home sales.

Go long or short of UK, US and German equities.

Thursday 25 August

PetroChina chart: 19/08/22
   PetroChina chart: 19/08/22 (click to expand image)

Energy company PetroChina leads the earnings on Thursday. China’s largest oil and gas producer is reportedly considering a plan to spin off its marketing and trading business. Other companies reporting include discount stores Dollar General and Dollar Tree, cloud computing firm VMware, cosmetics retail chain Ulta Beauty, semiconductor producer Marvell, enterprise software firm Workday, oil and gas industry supplier Hunting, clothing retailers Gap and Abercrombie & Fitch, and UK recruitment services provider Hays. In Germany we’ll see the final GDP for Q2 and the Ifo business climate index, while in the US the second estimate of Q2 GDP is released.

Trade energies, metals and other popular commodities.

Friday 26 August

Early on Friday in Japan the Tokyo CPI data for August is released, after last week the national inflation data showed core CPI rising 2.4% year-on-year, exceeding the Bank of Japan’s inflation target for the fourth month in a row. Later in the morning we’ll get the German GfK consumer climate, while in the US we’ll see the July PCE price index, goods trade balance, personal spending and retail inventories, and the latest University of Michigan consumer sentiment index.

Published: 22 August 2022

You should under no circumstances consider the information and comments provided as an offer or solicitation to invest. This is a macro summary of scheduled news announcements and is not investment advice, independent research or an investment recommendation. The information provided is believed to be accurate at the date the information is produced.

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