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The week ahead: 23/08/21

Retail and tech firms dominate the earnings schedule this week, including Nordstrom, Best Buy, Urban Outfitters, Medtronic, Intuit, HP and Workday. The health of the German and US economies are also in the spotlight, with revisions to Q2 GDP on Tuesday and Thursday respectively.

Monday 23 August

On Monday morning we’ll see manufacturing and services PMI figures for France, Germany and the eurozone, followed in the afternoon by the same data in the US. Also look out for the CBI’s survey of industrial trends in the UK, and the US existing home sales report. Cybersecurity multinational Palo Alto Networks will post quarterly earnings.

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Tuesday 24 August

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Medtronic chart: 18/08/21

A broad range of US retailers report on Tuesday, including department store chain Nordstrom, consumer electronics retailer Best Buy, car parts provider Advance, and clothing and lifestyle group Urban Outfitters. Other notable results come from medical tech provider Medtronic (restructured earlier this year) and financial software firm Intuit. The update on German GDP will show us whether there is any revision to Q2’s growth of 1.5% quarter-on-quarter. We’ll also get US new home sales.

Wednesday 25 August

Expect results on Wednesday from CRM service Salesforce, oil and gas producer PetroChina, design software firm Autodesk, data platform Splunk, beauty chain Ulta, home retail group Williams-Sonoma, luxury-home builder Toll Brothers and US retailer Dick’s Sporting Goods. In Germany the influential Ifo index of current and expected business conditions is released, while in the US we’ll see the latest durable goods orders.

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Thursday 26 August

Enterprise software firm Workday, which recently provided an update on its relationship with Amazon, issues its quarterly report on Thursday. Also posting earnings are PC and printer vendor HP, virtualisation software company VMware, semiconductor producer Marvell, and US variety stores Dollar General and Dollar Tree. Also keep an eye out for the GfK survey of German consumer confidence, and the second estimate of US GDP for the second quarter.

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Friday 27 August

In Japan on Friday we’ll get the monthly CPI update for Tokyo, released at 30 minutes past midnight UK time. Two hours later expect the detailed breakdown of Australian retail trade for July, the first month since moving to a new release schedule. US homeware store Big Lots will report second-quarter earnings to the market.

Published: 23 August 2021

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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