Three Things to Watch
- Nvidia is the world’s largest publicly listed company by market capitalization and is considered a bellwether for large-cap, growth and tech stocks. Its earnings reports have become market-moving events, with the company having a history of upside surprises. The company will report second-quarter earnings on Wednesday, and comments on tariffs, China and artificial intelligence will be closely watched.
- The U.S. Federal Reserve’s (Fed’s) favored measure of inflation (core personal consumption expenditures) will be out Friday morning and is expected to tick higher to 2.9% year-over-year. Last week, at the annual Jackson Hole economic symposium, the Fed acknowledged the tough spot it is currently in with inflation still above the 2% target and the labor market showing signs of weakness. Fed Chairman Powell used the term “challenging” to describe current conditions, and there is a divide among voting members.
- Chairman Powell teed up an interest-rate cut next month in his Jackson Hole comments. Multiple Fed speakers are on the tapes this week, including Fed Governor Waller, who voted for an immediate cut at the last meeting.
Three Things to Know
- According to the National Hot Dog and Sausage Council, Americans consume approximately 7 billion hot dogs from Memorial Day to Labor Day. This equates to 818 hot dogs eaten every second. (Source: Thomas for Industry)
- Labor Day is the third most popular day of the year to have a cookout, falling behind Memorial Day and the Fourth of July. (Source: Good Housekeeping)
- The median American household now needs to spend 48% of their income to buy the median-priced home—worse than the peak of the 2006 bubble. (Source: Charlie Bilello)
The above information reflects the current opinion of the author. It is based upon sources and data believed to be accurate and reliable. Opinions and forward-looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security mentioned.