Author: Zac Martin, Investment Associate
Week Ending August 12th – Rebound
- ISM Services PMIs for July expanded by 2.6% to 51.4%. The increase was led by an uptick in Business Activity, New Orders and Employment.
- ISM Manufacturing PMIs for July were less positive as the index contracted 1.7% to 46.8%. Unlike services, New Orders, Employment and Production have all contracted for several months. Employment was the largest detractor as respondents stated they are continuing to reduce headcount.
- Earnings: CSX and Caterpillar reported a slight decrease in revenue led by decelerating and decreasing volumes, respectively. Yum! Brands saw a decrease in overall same-store sales and highlighted exceeding interest around Voice AI drive through opportunities. Disney reported the first positive profit for streaming but guided weakening theme park revenue.
The week ahead:
- Producers Price Index (8/13)
- Consumers Price Index (8/14)
- Retail Sales, Manufacturing & Industrial Production, Empire State Index (8/15)
- Housing Starts, Building Permits (8/16)
- Earnings: HD (8/13), DE, AMAT, WMT (8/15)
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