Market Preview: Companies Ranging from Best Buy to Salesforce Report Earnings, and GDP Numbers

The market continued its winning ways on Friday, with the S&P and Nasdaq finishing at all time highs. Not even a firm stance on rising interests rates from Fed Chairman Powell could dampen the spirits of this aging bull market. Good economic news and even better earnings appear to be trumping political scandals and trade issues as we head into the waning days of summer. The CEO of Target may have put it best when discussing his company’s earnings earlier this week on CNBC, he said, “I think this is the healthiest environment I’ve ever seen.” The market apparently agrees.

Next week’s earnings calendar will give investors a wide range of stocks to parse. There will be additional retail numbers from Best Buy (BBY) on Tuesday, as well as a chance to check on the high end consumer when Tiffany (TIF) reports. Wednesday Salesforce (CRM) will detail their latest quarter in the customer management space, and Dick’s Sporting Goods (DKS) will step onto the earnings stage. Thursday we’ll hear from two of the biggest discount retailers when both Dollar General (DG) and Dollar Tree (DLTR) report. They’ll be joined by apparel seller lululemon (LULU). The earnings calendar is clear for the last Friday in August. 

Monday we’ll get earnings from Heico (HEI) and Bilibili (BILI). Heico recently went through a stock split, and the industrial parts supplier increased its semiannual dividend by 7%. Analysts will be keen to hear how the aircraft parts supply business is fairing in a bumpy plane market. Last quarter BILI doubled its sales and had double-digit growth in its mobile business. Analysts are looking to see if BILI is keeping the pulse of the young Chinese consumer which makes up most of its market.

The economic calendar next week is chock full of data, but the biggest focus for analysts will be the GDP number on Wednesday. We’ll also get international trade in goods and consumer confidence on Tuesday. Later in the week we’ll take a look at personal income, jobless claims, and the latest consumer sentiment numbers. Monday analysts will be focused on two Fed numbers. The Chicago Fed National Activity Index and the Dallas Fed Manufacturing Survey are both released Monday morning. The Chicago number tracks nationwide economic activity and inflation, while the Dallas Survey provides data out of Texas. Both numbers are expected to rise.

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