Wall Street Breakfast: The Week Ahead
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The spotlight will be on the Federal Reserve, Bank of England, and Bank of Japan next week amid a new ratcheting up of inflation worries. Rate decisions are also in due from the central banks of Norway, Sweden, and Switzerland. In the U.S., the Fed's FOMC is not expected to raise rate (full preview) but could tilt a little more to the hawkish side after a stronger-than-anticipated inflation report for August. Economic reports due during the week include updates on housing starts, crude oil inventories, and initial jobless claims.
The week could also see some extra drama on the political front as the countdown continues toward a potential government shutdown on October 1.
Investors will also have their eyes on the battle between the United Auto Workers union and Detroit automakers, which could start to have ramifications for dozens of stocks. Weighing in on the auto sector disruption, Seeking Alpha analyst Doron Levin called the UAW strike a self-inflicted wound for a declining Detroit-based auto industry, while other analysts have said Tesla (TSLA) looks like a clear beneficiary from the labor squabble.
Earnings spotlight: Monday, September 18 - Stitch Fix (SFIX).
Earnings spotlight: Tuesday, September 19 - AutoZone (AZO), Steelcase (SCS), and Apogee Enterprises (APOG).
Earnings spotlight: Wednesday, September 20 - FedEx (FDX), General Mills (GIS), and KB Home (KBH).
Earnings spotlight: Thursday, September 21 - Darden Restaurants (DRI) and FactSet Research (FDS).
IPO and spinoff watch: Iconic German sandal and clog maker Birkenstock (BIRK) could start trading soon. The company has not yet offered any details on the size or price range for the IPO. Birkenstock is backed by LVMH Moët Hennessy's (OTCPK:LVMHF) private equity arm L Catterton and LVMH Chief Executive Officer billionaire Bernard Arnault's family office.
Key events: Oracle (ORCL) will hold its four-day CloudWorld event in Las Vegas. The event will cover all things Oracle (ORCL), including AI on OCI, the progress of Oracle Autonomous Database, the company's multi-cloud strategy, and the use of Oracle Analytics throughout the portfolio. CEO Safra Catz will give a keynote address and Uber (UBER) CEO Dara Khosrowshahi will be a featured speaker. Microsoft (MSFT) will hold a special event in New York City that is expected to feature details on new hardware products and an update on the latest AI innovations across the company. CEO Satya Nadella and other Microsoft executives from product groups covering Microsoft 365, Surface, Windows, and Bing will present. Amazon (AMZN) will hold a Devices and Service Event. Last year, the Seattle-based tech giant revealed the Kindle Scribe and fifth-generation Echo Dot at the event. Analysts expect to hear about new Echo and Fire TV devices this year. Check out Seeking Alpha's Catalyst Watch for a full preview of the key events.
Conference schedule: The conference schedule is heavy again. The headliners for the week include the CL King Annual Best Ideas Conference, the J.P. Morgan Annual U.S. All Stars Conference, the Wells Fargo Consumer Conference, and the TD Cowen FutureHealth Conference.
Quant ratings: Stocks with recent quant rating changes include Alphabet (GOOG) to Strong Buy from Hold and Tenable Holdings (TENB) to Strong Buy from Hold. See the stocks with the very highest rated Seeking Alpha Quant Ratings.
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