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Yahoo Finance Daily

Inflation and Disney: What to watch this week

Mon Aug 07 2023
Stock MarketInflationEconomic CalendarAI UpdatesEarnings Season

Description

The episode covers the stock market's performance, inflation data, upcoming economic calendar, AI updates during earnings season, and the wrap-up of earning season.

Insights

Mixed Quarter for Apple

Apple reported mixed quarterly results, leading to a 5% drop in its stock.

Inflation Concerns

Economists expect a rise in headline inflation for July, which may impact the Fed's policy decision.

Focus on Disney's Earnings

Investors will closely watch Disney's earnings update, particularly the performance of its streaming and TV business.

AI Updates in Earnings Season

Tech companies like Meta, Alphabet, and Amazon highlighted their AI prospects, while Microsoft and Apple took a more measured approach.

Earnings Season Wrap-up

Results from UPS, Palantir, Eli Lilly, and Lyft will be released as earning season comes to a close.

Chapters

  1. Market Update
  2. Inflation and Economic Data
  3. Upcoming Economic Calendar
  4. AI Updates and Earnings Season
  5. Earnings Season Wrap-up
Summary
Transcript

Market Update

00:01 - 01:09

  • The stock market's rally in 2023 hit a rough patch in August.
  • The July Jobs report showed a cooling labor market.
  • Apple reported mixed quarterly results.
  • Fitch ratings downgraded the U.S. government's debt.
  • The S&P 500 and Dow Jones industrial average snapped three-week winning streaks.
  • The tech-heavy NASDAQ composite fell nearly 3%.
  • Amazon's strong earnings report led to an 8% increase in its stock.
  • Inflation data for July and Disney's earnings will be key highlights in the week ahead.

Inflation and Economic Data

01:10 - 02:16

  • Economists expect the Consumer Price Index report to show a 3.3% rise in headline inflation for July.
  • Core inflation is expected to have risen 4.8% from last year in July.
  • The Fed will consider this data before their next policy decision on September 20.
  • The U.S. economy added 187,000 jobs in July, lower than expected.
  • Unemployment rate fell to 3.5%.
  • Worker productivity may mitigate the impact of rising wages on inflation.

Upcoming Economic Calendar

02:16 - 02:40

  • NFIB's Small Business Optimism Report, University of Michigan's consumer sentiment check, and producer price data will be released.
  • Disney's earnings update will be closely watched, with focus on streaming and TV business performance.

AI Updates and Earnings Season

02:40 - 03:24

  • Meta, Alphabet, and Amazon emphasized their AI prospects during earnings season.
  • Microsoft and Apple took a more measured approach.
  • Apple's stock fell 5% after revenue declines and lower iPhone sales.
  • Amazon's Amazon Web Services business showed better-than-expected revenue growth.

Earnings Season Wrap-up

03:25 - 03:53

  • Results from UPS, Palantir, Eli Lilly, and Lyft will be released as earning season winds down.
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