Monday's Market Minute: Focal Points For The Week Ahead

We begin the week with indices lower into the cash open as investors and traders express concerns ahead of comments from Federal Reserve chairman Jerome Powell at Friday’s Jackson Hole symposium. Fed speakers during the last couple weeks seem to be looking past some of the softer-than-expected data recently to the rate hike to come at the upcoming September FOMC meeting.

Crude oil is lower today as the likelihood of an Iran nuclear deal has increased in the last week. This would add supplies to a market that’s been stretched thin with sanctions on Russia and the ongoing war in Ukraine. The hope is increased supplies would ease price pressures. Also driving price lower is the U.S. Dollar firming up and nearing its recent highs up around 109.

We have some companies reporting earnings this week to keep an eye on. We have Zoom Video ZM, Palo Alto Networks PANW, Macy’s M, JD, Intuit INTU, Nordstrom JWN, Advance Auto Parts AAP, Autodesk ADSK, Nvidia NVDA, Peloton PTON, and Dollar General DG to name a few that could move markets. 

Lastly, in terms of economic data due out that could move markets, we have: New Home Sales, Durable Goods, Pending Home Sales, GDP, Jobless Claims, Personal Income and spending figures, a handful of Fed speakers, and Consumer Sentiment.

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