House Budget Resolution Vote, Fed Meeting in Jackson Hole, Best Buy Results Next Week

The coming week will feature a bevy of income from big names including Advanced Auto Parts, Best Buy, Big Lots, Dicks Sporting Goods, Nordstrom, Urban Outfitters, Burlington Stores, Dollar General, Dollar Tree, Peloton Interactive, Gap, HP and Dell. . Technologies.

House lawmakers are also expected to pass a $ 3.5 trillion budget resolution passed by the Senate earlier this month. In addition, the Federal Reserve Bank of Kansas City will hold its annual economic symposium in Jackson Hole, Wyoming, in the second half of the week.

Teleprinter Security Last Switch Switch %
Me: DJI MEDIUM DOW JONES 35120.08 +225.96 + 0.65%
SP500 S&P 500 4441.67 +35.87 + 0.81%
I: COMP NASDAQ COMPOSITE INDEX 14714.663065 +172.87 + 1.19%

This as markets are trading higher after falling last week amid concerns over the delta variant and the Federal Reserve’s announcement that the reduction in its support for the economy could begin as early as this year.

FOX Business takes a look at upcoming events that are likely to move Financial markets in the coming days.

Monday 23/08 and Madison Square Garden Entertainment will begin the week before the market opens, followed by Palo Alto Networks after the closing bell. Investors will also be watching the national activity index and existing home sales.

Teleprinter Security Last Switch Switch %
JD JD.COM, INC. 63.62 +1.43 + 2.30%
PANW PALO ALTO NETWORKS, INC. 367.46 +4.56 +1.26%

In politics, the House of Representatives is expected to shorten its recess and resume session to pass a $ 3.5 trillion budget resolution on Monday, which includes $ 550 billion in new infrastructure spending. In addition, House Majority Leader Steny Hoyer said lawmakers could also pass other laws such as the John Lewis Voting Rights Act.

Teleprinter Security Last Switch Switch %
DG GENERAL ENGINE CO. 48.80 -0.28 -0.57%
F FORD MOTOR CO. 12.57 -0.10 -0.79%

Other notable events on Monday included the resumption of production at General Motors’ Lansing Delta assembly plant and the start of Ford’s recall of certain trucks and SUVs. The International Monetary Fund will also pour 650 billion dollars into its largest distribution of reserves on record.

Tuesday 24/8

Advanced Auto Parts, Best Buy and Medtronic are expected to report their results before the market opens on Tuesday, while Intuit, Nordstrom, Toll Brothers and Urban Outfitters will report their results after the closing bell. Economic data to watch for Tuesday includes building permits and new home sales.

Teleprinter Security Last Switch Switch %
PAA ADVANCE AUTO PARTS, INC. 209.68 +1.31 + 0.63%
BBY BEST PURCHASE CO., INC. 112.63 +2.87 + 2.61%
MDT MEDTRONIC API 129.90 +0.97 + 0.75%
INTU INTUIT, INC. 545.30 +1.86 + 0.34%
JWN NORDSTROM, INC. 35.11 +1.17 + 3.45%
TOL TOLL BROTHERS, INC. 59.52 +1.62 + 2.80%
URBN URBAN OUTFITTERS, INC. 37.81 +1.29 + 3.53%

Additionally, ReNew Power will debut on the Nasdaq on Tuesday under the ticker symbols RNW and RNWWW. Around 88% of the votes cast by shareholders on the proposed business combination with the ad hoc acquisition company RMG II were in favor of the measure. The $ 8 billion deal marks the largest overseas PSPC listing of an Indian company.

Wednesday 25/08

On Wednesday, investors will hear from big names in retail, including Dick’s Sporting Goods, Express, Shoe Carnival. Meanwhile, Autodesk, Box, NetApp, Salesforce, Snowflake, and Ulta Beauty will all deliver results after the bell.

Teleprinter Security Last Switch Switch %
DKS DICK’S SPORTING GOODS, INC. 109.82 +4.79 + 4.56%
EXP EAGLE MATERIALS, INC. 150.58 +1.45 + 0.97%
SCVL SHOE CARNIVAL 38.27 +2.21 + 6.13%
ADSK AUTODESK, INC. 334.38 +4.03 + 1.22%
BOX BOX INC 24.87 +0.24 + 0.97%
CRM SALESFORCE.COM, INC. 256.13 +3.06 + 1.21%
SNOW SNOWFLAKE, INC. 266.67 -12.78 -4.57%
ULTA ULTA BEAUTÉ, INC. 366.77 +5.91 +1.64%

Economic data featured on Wednesday includes durable goods, weekly mortgage applications and weekly crude inventories from the Energy Information Administration.

President Joe Biden delivers a speech on infrastructure spending at the Carpenters Pittsburgh Training Center on Wednesday, March 31, 2021, in Pittsburgh. (AP Photo / Evan Vucci)

President Biden will also meet with private sector leaders on Wednesday to discuss ways to strengthen cybersecurity because hackers stepped up ransomware attacks throughout 2021. Checkpoint search estimates that the number of ransomware attacks, in which a malicious actor seizes a company’s or individual’s data and keeps it until a ransom is paid, has increased by 93% every week over the course of of the last 12 months. The firm notes that North America has seen a 32% increase in ransomware attacks in the past six months alone.

Teleprinter Security Last Switch Switch %
SAY THE WALT DISNEY CO. 175.12 +1.87 +1.08%

Also on Wednesday, Disneyland will open sales of its Magic Keys program, replacing its annual pass. The program, which is split into four distinct levels called Dream Key, Believe Key, Enchant Key, and Magic Key, will offer special perks including discounts on meals, merchandise, and parking, as well as the ability to reserve multiple parks at theme at the same time.

In this image from the video made available by Blue Origin, the New Shepard rocket takes off during a test in West Texas on Wednesday, April 14, 2021. (Blue Origin via AP)

Additionally, Blue Origin will be performing its 17th New Shepard mission to date. The mission, which will take off at 9:35 a.m. EST from Launch Site 1 in West Texas, will demonstrate NASA’s lunar landing technology outside of its thruster, 18 charges useful commercial inside the crew capsule, including 11 from NASA. supported, and an art installation outside the capsule. To date, New Shepard has carried more than 100 payloads into space on 11 flights.

Thursday 8/26

Thursday marks the busiest day in terms of revenue with 1-800-Flowers, Abercrombie & Fitch, Build-A-Bear Workshop, Burlington Stores, Coty, Dollar General, Dollar Tree, Hain Celestial Group, JM Smucker and Sanderson Farms, all ready to report before the market opens.

Teleprinter Security Last Switch Switch %
FLWS 1 800 FLOWERS COM 29.30 -0.08 -0.27%
ANF ABERCROMBIE & FITCH CO. 38.02 +0.56 +1.49%
BURL BURLINGTON STORES 347.52 -1.37 -0.39%
COTY COTY, INC. 7.86 +0.10 +1.29%
DG DOLLAR CORP. 234.78 +2.31 + 0.99%
DLTR THE DOLLAR TREE, INC. 102.67 +1.61 +1.59%
HAIN THE CÉLESTE HAIN GROUP, INC. 40.31 +0.21 + 0.52%
SJM THE JM SMUCKER CO. 131.28 -1.10 -0.83%
SAFM SANDERSON FARMS, INC. 192.50 -0.34 -0.18%

Meanwhile, big names like Dell Technologies, Gap, HP, Peloton Interactive and Workday will be in the spotlight Thursday after the bell.

Teleprinter Security Last Switch Switch %
DELL DELL TECHNOLOGIES, INC. 98.50 +2.28 + 2.37%
GPS GAP, INC. 28.27 +0.85 + 3.10%
HP HELMERICH & PAYNE, INC. 24.13 -0.12 -0.49%
PTON INTERACTIVE PLATOON, INC. 108.07 +0.27 + 0.25%
DAY WORKDAY, INC. 235.95 +4.05 + 1.75%

When it comes to economic data, investors will be watching corporate profits, GDP, and weekly initial and continuing jobless claims.

Friday 8/27

Jackpots will close the week for earnings data, while personal income, consumer spending, the core PCE price index and the University of Michigan consumer confidence index will end the week for economic data.

Teleprinter Security Last Switch Switch %
FAT BIG LOTS, INC. 56.07 +1.40 + 2.56%

The Federal Reserve Bank of Kansas City will also be holding its economic policy symposium titled “Macroeconomic Policy in an Unequal Economy” in Jackson Hole, Wyoming. The event, which was originally scheduled to welcome attendees in person, has moved to a virtual event solely due to the “recently elevated COVID-19 health risk level” in Teton County, Wyoming.

“While we are disappointed that sanitary conditions prevent us from being able to meet in person at Jackson Lake Lodge this year as we planned, the safety of our guests and the Teton County community is our priority,” said said the Kansas City Fed chairman. and CEO Esther George said in a statement.

The remarks by Federal Reserve Chairman Jerome Powell will be broadcast live to the public at 10 a.m. EST on Kansas City Fed YouTube Channel.

FILE PHOTO: Federal Reserve Chairman Jerome Powell attends the Federal Reserve Bank of Kansas City’s annual Jackson Hole Economic Policy Symposium in Jackson Hole, Wyoming on August 28, 2015. REUTERS / Jonathan Crosby / File Photo / File Photo (REUTERS / Jonathan Crosby / File photo / File photo / Reuters photos)

It will also be a big day for the all-new Astra Space, which will make its first orbital launch on Friday in which it will carry a test payload for the US Space Force’s space test program.

Teleprinter Security Last Switch Switch %
ASTR HOLICITY INC 9.62 +0.12 +1.26%

The mission, dubbed STP-27AD1, will take place at Astra’s Kodiak Spaceport, located at the Pacific Spaceport Complex in Kodiak, Alaska. The launch window will begin at 1:00 p.m. PT on Friday and will remain open until Saturday, September 11.

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