[TradersCom]

Eurozone’s July CPI -0.1% m/m, as expected (last 0.3%); 5.3% yr/yr, as expected (last 5.5%).
July Core CPI -0.1% m/m, as expected (last 0.4%); 5.5% yr/yr, as expected (last 5.5%).
June Construction Output -1.0% m/m (expected 0.0%; last 0.3%)

Eurozone’s CPI was left unrevised in the final reading for July while the U.K. reported a bigger than expected contraction in retail sales.
The European Central Bank is reportedly opposed to Italy’s plan for imposing a 40% windfall profit tax on banks.
ECB Chief Economist Lane said that he believes that the European economy will grow over the next couple of years.

[TradersCom]

U.K.’s July Retail Sales -1.2% m/m (expected -0.5%; last 0.6%); -3.2% yr/yr (expected -2.1%; last -1.6%).
July Core Retail Sales -1.4% m/m (expected -0.7%; last 0.7%); -3.4% yr/yr (expected -2.2%; last -1.6%)

[TradersCom]

Applied Materials (AMAT 140.23, +2.64, +1.9%): beats by $0.16, beats on revs; guides OctQ EPS above consensus, revs in-line

Ross Stores (ROST 118.32, +5.26, +4.7%): beats by $0.16, beats on revs; guides Q3 EPS in-line; guides Q4 (Jan) EPS above consensus

Keysight (KEYS 131.10, -18.95, -12.6%): beats by $0.15, reports revs in-line; guides Q4 EPS below consensus, revs below consensus

Farfetch (FTCH 2.84, -1.92, -40.3%): beats by $0.07, misses on revs; guides FY23 revs below consensus

Bill.com (BILL 96.16, -5.40, -5.3%): beats by $0.18, beats on revs; guides SepQ EPS above consensus, revs below consensus; guides FY24 EPS above consensus, revs below consensus

[TradersCom]

Deere (DE 414.87, -4.29, -1.0%): beats by $1.98, reports revs in-line; raises FY23 net income guidance

XPeng (XPEV 14.65, -1.00, -6.4%): reports Q2 results; revs in-line; sees Q3 revs below expectations

[TradersCom]

Bloomin’ Brands (BLMN 27.50, +1.88, +7.3%): Starboard aiming to take 5% stake in Bloomin’ Brands, according to WSJ

[TradersCom]

Dolby Laboratories (DLB 81.50, +4.68, +6.1%): set to join S&P MidCap 400, effective prior to the on Tuesday, August 22
Reviewing overnight developments:

[TradersCom]

Estée Lauder down 6% after earnings
Q4 Non-GAAP EPS $0.07 beats by $0.11
Revenue $3.61B (+1.4% Y/Y) beats by $140M
Sales Outlook:
Decrease between 12% and 10% v prior-year period vs. estimated growth of 0.26%
$EL 151.40 -10.66 (-6.58%) Pre-Market

[CautiousInvestor]

Dow 34,500.66 25.83 0.07%
S&P 500 4,369.71 -0.65 -0.01%
Nasdaq 13,290.78 -26.16 -0.20%
VIX 17.30 -0.59 -3.30%
Gold 1,918.70 3.50 0.18%
Oil 81.39 1.00 1.24

[CautiousInvestor]

A great article of how continuing to work while drawing SS benefits can increase benefits (but only if current year becomes 1 of highest FICA income years in the top 35 & one retires at proper time). Doesn’t add a lot but if the 35 year ticks up some, this credit will increase SS for next year by a small amount.

https://www.kitces.com/blog/social-security-and-working-how-adding-to-social-security-work-history-can-increase-retirement-benefit/

[CautiousInvestor]

August 20 – 26, 2023 FEAR NOT Brave Investors Where have we been and where are we going? Join our weekly market thread on Traders Community… Jackson H
[See the full post at: Traders Market Weekly: China, NVidia, BRICS and Jackson Hole Risks]

[Author]

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