Skip to content Skip to sidebar Skip to footer
Menu

What To Expect in the Markets This Week 17-21JUN2024

Share Post

What To Expect in the Markets This Week 17-21JUN2024

Share Post
Economic Calendar

What To Expect in the Markets This Week 17-21JUN2024

Key Economic Releases and Earnings Reports to Watch This Week
June 16, 2024
Share Post 5 minRead time

KEY TAKEAWAYS

  • Markets, federal offices, and most banks are closed Wednesday for the Juneteenth national holiday.
  • Several Federal Reserve officials are scheduled to comment after last week’s interest rate decision and updated economic forecasts.
  • Earnings reports from homebuilders Lennar and KB Home are scheduled close to several housing-market indicators, including existing home sales and housing starts. 
  • Accenture, Kroger, and CarMax are also on the earnings calendar for the week ahead.

In a holiday-shortened week, investors will be watching comments from Federal Reserve representatives and data from several economic releases that could help show whether inflation is likely to continue its downward path.  Markets are closed on Wednesday for the Juneteenth national holiday. 

The housing market will come into better focus with the release of data on existing home sales, housing starts, and homebuilder confidence, parallel with earnings reports from builders Lennar (LEN) and KB Home (KBH). 

Grocery store chain Kroger (KR) will also report this week as it continues to work toward approval of its merger with Albertsons (ACI). 

Monday, June 17

  • Empire State Manufacturing Survey
  • Philadelphia Fed President Patrick Harker and Federal Reserve Gov. Lisa D. Cook deliver remarks
  • La-Z-Boy (LZB) releases earnings

Tuesday, June 18

  • Advance retail sales (May)
  • Industrial production and capacity utilization (May)
  • Business inventories (April)
  • Lennar and KB Home report earnings
  • Dallas Fed President Lorie K. Logan, Richmond Fed President Tom Barkin11, Kansas City Fed President Alberto Musalem, and Chicago Fed President Austan Goolsbee deliver remarks

Wednesday, June 19

  • Juneteenth National Independence Day holiday, market closed
  • Housing market index (June)

Thursday, June 20

  • Initial jobless claims (Week ending June 15)
  • Housing starts (May)
  • Accenture (ACN),17 Kroger, Darden Restaurants (DRI), and Jabil (JBL) report earnings
  • Richmond Fed President Tom Barkin delivers remarks

Friday, June 21

  • S&P Global flash composite U.S. PMI (June)
  • Existing home sales (May)
  • U.S. leading economic indicators (May)
  • CarMax (KMX) reports earnings

Fed Speakers Lead Week That Includes Retail Sales Data, PMI

Following the most recent interest rate decision, investors will hear from Federal Reserve officials throughout the week on the state of economic conditions, the progress on inflation, and the path of interest rates.

Investors will be closely analyzing the Fed representatives’ remarks on inflation reports released last week showing prices trending lower again, potentially putting the Fed in a position to begin cutting interest rates. 

Federal Reserve Governor Lisa Cook, Philadelphia Federal Reserve Bank President Patrick Harker, Dallas Fed President Lorie K. Logan, Richmond Fed President Tom Barkin, Kansas City Fed President Alberto Musalem, and Chicago Fed President Austan Goolsbee are all on the speaking calendar this week. 

Housing Data, Builder Earnings Offer Look at Real Estate Sector

The housing market will come into clearer focus this week with the release of several economic indicators, including data on home builder confidence on Wednesday, housing starts on Thursday, and existing home sales on Friday. 

Investors will also get a look at the strength of housing construction on Tuesday when home builders Lennar and KB Home report earnings. High mortgage rates have affected their sales, with KB Home reporting declining sales and profits earlier this year. 

Accenture, Kroger on Earnings Calendar

A few companies are scheduled to report quarterly financial results amid a light week on the earnings calendar.

Consulting firm Accenture is set to report its earnings after it lowered its guidance last quarter. The company continues to highlight its effort to integrate artificial intelligence (AI) into its products. 

Investors also will be watching the latest financial report from Kroger, which posted strong results last quarter despite government regulators moving to restrict its proposed merger with Albertsons.  CarMax’s report on Friday will offer insight into the retail auto market in the U.S. 

Tags:
Share Post