Day Ahead: 3 Things to Watch for August 19
Investing.com
Published Aug 18, 2020 04:04PM ET
By Christiana Sciaudone
Investing.com -- The S&P 500 finally joined the Nasdaq Composite in hitting record territory, making up for losses of the past months driven by the coronavirus pandemic. The Dow closed lower.
Despite strong markets, Gold Futures is still a favorite as futures and spot prices rose, as is Tesla (NASDAQ:TSLA), which can't stop hitting records. Market optimism was also supported by data showing U.S. home building accelerated by the most in nearly four years in July.
Retailers from Walmart (NYSE:WMT) to the Home Depot (NYSE:HD) reported better-than-expected results on Tuesday, but the outlook did little to lift their fortunes. More retailers are on tap to report earnings this week.
Here are three things that may move markets tomorrow:
1. Tech earnings
Nvidia (NASDAQ:NVDA) is expected to report earnings per share of $1.98 on sales of $3.65 billion. The company has beat expectations over the past five quarters.
Analog Devices (NASDAQ:ADI) is set to report earnings per share of $1.28 on sales of $1.43 billion. The stock is up about 46% since March.
2. Retail earnings
Lowe's (NYSE:LOW) is up tomorrow after Home Depot reported its biggest sales bump in over 20 years today. Lowe's is estimated to report $2.83 on sales of $23.88 billion. Home Depot fell despite the good news, as stimulus dries up and reality hits.
TJX (NYSE:TJX) is expected to publish a loss per share of 11 cents on sales of $6.46 billion. Shares are up 63% since March.
Target (NYSE:TGT) may report earnings per share of $1.58 on sales of $19.87 billion. The stock is up 50% since March, and will follow Walmart's record online sales published Tuesday.
3. Fed minutes
The minutes of the latest Federal Reserve meeting will be published in the afternoon. The wise words may provide some insight into how the central bank sees the recovery playing out, Reuters said. The Fed has cut rates to near zero to bolster business through the pandemic.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.