It’s a light week for earnings as the last few companies report before the Labor Day weekend. Zoom Video Communications, one of the stars of the pandemic, goes on Monday, followed by H&R Block on Tuesday, and Brown-Forman, CrowdStrike Holdings, and Five Below on Wednesday. Finally, Broadcom, Campbell Soup, Cooper Cos., and DocuSign report on Thursday.
On Tuesday, the Census Bureau will publish its estimate of construction spending for July, while the Department of Labor will release its latest numbers on unemployment insurance on Thursday.
Other data nuggets include the Federal Reserve Bank of Dallas manufacturing survey for August on Monday, the Institute for Supply Management and IHS Markit manufacturing PMIs on Tuesday, and Costco’s monthly sales data on Wednesday. ADP also releases its monthly jobs report on Wednesday.
But the biggest news of the week will be the Bureau of Labor Statistics release of the August jobs report. Forecasters are currently predicting that about 1.3 million jobs were added in the month.
Monday 8/31
Zoom Video Communications reports quarterly results. The firm has been a beneficiary of the work-at-home movement, and it’s shares have more than quadrupledthis year.
The Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook Survey for August. Economists forecast a 2 reading, up from July’s negative 3. If the estimate proves correct, it would be the first positive reading for the index since February.
Tuesday 9/1
H&R Block reports earnings.
The Reserve Bank of Australia announces its monetary-policy decision. The central bank is likely to keep its cash target rate unchanged at a record low 0.25%, a level where it has been since mid-March.
The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for August. Consensus estimate is for a 54.5 reading, roughly even with the July data. The Manufacturing PMI has had two consecutive readings above the expansionary level of 50, after spending three months below beginning in March.
The Census Bureau reports construction spending data for July. Expectations are for a 1% monthly gain in construction spending, to a seasonally adjusted annual rate of $1.36 trillion. Spending has fallen every month since the initial wave of lockdowns in March.
Wednesday 9/2
Brown-Forman, CrowdStrike Holdings, and Five Below report quarterly results.
ADP releases its National Employment Report for August. Total nonfarm private sector employment is expected to jump by 1.1 million after adding 167,000 jobs in July. Since hemorrhaging nearly 20 million jobs in March and April, the economy has added back almost eight million in the three months after, according to ADP.
Costco Wholesale reports sales data for August.
Thursday 9/3
The Institute for Supply Management releases its Services Purchasing Managers’ Index for August. Expectations are for a 57.8 reading, similar to the previous two month’s data.
Broadcom, Campbell Soup, Cooper Cos., and DocuSign report earnings.
The Department of Labor reports initial jobless claims for the week ending on Aug. 29. Except for a single week in early August, jobless claims have surpassed one million each week since mid-March.
Friday 9/4
The Bureau of Labor Statistics releases the jobs report for August. Expectations are for the economy to add 1.5 million nonfarm jobs, after a 1.76 million rise in July. The unemployment rate is seen edging down to 10% from 10.2%. That would leave the unemployment rate 6.5 percentage points above the prepandemic level of 3.5% from February, which was a half-century low.
Write to Matthew C. Klein at matthew.klein@barrons.com
"block" - Google News
August 31, 2020 at 02:00AM
https://ift.tt/3lyjKde
Zoom Video, H&R Block, Campbell Soup, and Other Stocks for Investors to Watch This Week - Barron's
"block" - Google News
https://ift.tt/309gigV
Bagikan Berita Ini
0 Response to "Zoom Video, H&R Block, Campbell Soup, and Other Stocks for Investors to Watch This Week - Barron's"
Post a Comment