Tuesday, August 29, 2023

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:
  • (BF.B)/.53
  • (CONN)/-1.53
  • (PDCO)/.40
After the Close: 
  • (CHWY)/-.05
  • (COO)/3.34
  • (CRWD)/.56
  • (FIVE)/.83
  • (OKTA)/.22
  • (CRM)/1.90
  • (VEEV)/1.13
  • (VSCO)/.26
Economic Releases  
8:15 am EST
  • The ADP Employment Change for Aug. is estimated to fall to 195K versus 324K in July.

8:30 am EST

  • Advance Goods Trade Balance for July is estimated to widen to -$90.0B versus $87.8B in June.
  • Wholesale Inventories MoM for July is estimated to fall -.3% versus -.5% decline in June. 
  • Retail Inventories MoM for July is estimated to rise +.5% versus a +.7% gain in June.
  • 2Q GDP revisions.

10:00 am EST

  • Pending Home Sales MoM for July is estimated to fall -1.0% versus a +.3% gain in June.

10:30 am EST

  • Bloomberg consensus estimates call for a weekly crude oil inventory decline of -1,595,500 barrels versus a -6,134,000 barrel decline the prior week. Gasoline supplies are estimated to fall by -720,250 barrels versus a +1,468,000 barrel gain the prior week. Distillate inventories are estimated to fall by -943,000 barrels versus a +945,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to rise by +.3% versus a -.2% decline prior.

Upcoming Splits 

  • (DSGR) 2-for-1
Other Potential Market Movers
  • The Eurozone Consumer Confidence report, weekly MBA Mortgage Applications report and the DB Tech Conference could also impact global trading tomorrow.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST

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