Monday's Market Minute: Jackson Hole Symposium & Retail Earnings In Focus This Week

We begin the week with the primary focus on the Jackson Hole Symposium, where investors will look to Federal Reserve Chairman Jerome Powell on Friday for insight about the likelihood of further rate hikes. In terms of economic data, we also have Existing and New Home Sales, the Richmond Fed Manufacturing Index, and PMI Composite Flash to watch from Monday to Wednesday, with the rest of the week bringing Durable Goods Orders, Jobless Claims, and Consumer Sentiment.

The retail sector will be front and center for earnings, with companies reporting quarterly results including Lowe’s LOW, Macy’s M, Dick’s Sporting Goods DKS, Kohl’s KSS, Advance Auto Parts AAP, Foot Locker FL, Burlington Stores BURL, Dollar Tree DLTR, Nordstrom JWN, and Ulta Beauty ULTA. We’ll also hear from Analog Devices ADI, Autodesk ADSK, Baidu BIDU, Peloton PTON, and Intuit INTU this week.

Lastly, keep an eye on both rates and the energy sector, with the U.S. 10-year yield and WTI crude prices remaining stubbornly elevated. Into the open, we have the micro 10-year yield futures (/10Y) near 4.3% and crude oil futures (/CL) above 81. We also have stocks coming off three weeks of declines with concerns related to China still lingering.

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