Wall Street week ahead: Retail sales, factory output data to guide US stock markets

Estimated read time 9 min read

On Wall Street in the week ahead, the stock markets would be guided by key economic data such as US retail sales and factory output among others.

The holiday-shortened week will also see few big earnings such as IT and consulting services firm Accenture and supermarket chain Kroger.

Economic events

On June 17 (Monday), data on the Empire State manufacturing survey for June will be released.

ALSO READ: Macro data, BoE, China verdict, FII mood, global cues to drive markets this week

On June 18 (Tuesday), US retail sales data for May and a report on industrial production for the same month will be released.

June 19 (Wednesday) will see the release of a report on home builder confidence index for June.

On June 21 (Friday), data on the S&P flash US services PMI and the S&P flash US manufacturing PMI for June will be declared. Existing home sales data for May will also be released on the same day.

Earnings

Following companies are due to report quarterly earnings in the week ahead— Lennar, La-Z-Boy, KB Home, America’s Car-Mart, Accenture, Kroger, Darden Restaurants, CarMax, and FactSet.

ALSO READ: Red Lobster Looks to New Wall Street Savior After Prior Woes

US markets last week

US stocks closed mixed on Friday following another slide in Europe.

The Dow Jones Industrial Average fell 57.94 points, or 0.15 per cent, to 38,589.16. The S&P 500 lost 2.14 points, or 0.04 per cent, at 5,431.6 and the Nasdaq Composite added 21.32 points, or 0.12 per cent, at 17,688.88.

For the week, the Dow was down 0.5 per cent, the S&P 500 added 1.6 per cent and the Nasdaq rose 3.2 per cent.

The US dollar surged to 157.29 Japanese yen from 156.90 yen. The euro dropped to $1.0700 from $1.0739.

The yield on the 10-year Treasury fell to 4.21 per cent from 4.25 per cent.

Brent crude for August delivery slipped 13 cents to $82.62 per barrel on Friday.

Benchmark US crude oil for July delivery lost 17 cents to $78.45 per barrel.

Gold for August delivery gained $31.10 to $2,349.10 per ounce. Silver for July delivery added 40 cents to $29.47 per ounce.

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Published: 16 Jun 2024, 10:38 PM IST

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