Despite coming off a short trading week for the Fourth of July holiday, investors still have stock market volatility on their minds.
Wall Street’s three main indexes bounced back and forth during the holiday-shortened trading week as investors continue to hold out hope that an economic recovery will be short.
However, coronavirus outbreaks have picked up over the last two weeks as states eased lockdown restrictions.
Despite being down about 4% for the year, the S&P 500 has rebounded nearly 20% since April.
Another thing weighing on investors’ minds will be renewed tensions between the U.S. and China as Beijing passed a national security law related to Hong Kong last week. Washington has started the process of eliminating Hong Kong’s special trade status in response, so things could heat up again soon.
The Data Dump
Next week will again be full of data for investors to chew on.
The Consumer Price Index comes out Tuesday, with projections of a 1.7% drop year over year and a 0.7% drop from May to June.
Retail sales will be reported Wednesday as Wall Street anticipates a 16.8% drop in activity from April to May due to the pandemic halting sales across the country.
On Thursday, investors will see the latest unemployment figures. Unemployment for the month of April is expected to be above 14%.
Money & Markets Week Ahead Earnings Calendar
The earnings calendar for next week is even lighter than the holiday-shorted week.
Here’s a look at some key earnings reports coming out next week:
Remark Holdings Inc. (Nasdaq: MARK) — Monday, after the market closes.
Levi Strauss & Co. (NYSE: LEVI) — Tuesday, after the market closes.
Simply Good Foods Inc. (Nasdaq: SMPL) — Wednesday, before the market opens.
Bed Bath & Beyond Inc. (Nasdaq: BBBY) — Wednesday, after the market closes.
Wallgreens Boots Alliance Inc. (Nasdaq: WBA) — Thursday, before the market opens.
Shaw Communications Inc. (NYSE: SJR) — Friday, after the market closes.