It’s a huge week for results on the ASX. Here’s who to keep an eye on in this week’s investor calendar.
As usual, this calendar comes to us from the experts at CommSec.
Monday August 17
China industrial production, retail sales and jobs (July)
The releases give a read on the health of the Chinese economy.
US Empire State Manufacturing Index (August)
A reading of 10.0 is forecast.
Tuesday August 18
Westpac consumer sentiment survey (August)
The index rose 4.1% in July.
US housing starts (July)
Starts of 1.367 million are expected.
US industrial production (July)
A rise of 0.3% for the month is predicted.
Wednesday August 19
Wage Price Index (June quarter)
Annual wage growth of 3.2% is tipped.
RBA Deputy Governor Andrew Hauser speaks
Hauser appears at a summit in Brisbane.
US Federal Reserve meeting minutes
The minutes offer insight into July’s decision to keep rates steady.
Thursday August 20
Melbourne Institute inflation expectations (August)
Expectations sat at 4.7% in July.
Unemployment rate (July)
The jobless rate was 4.4% in June.
China interest rates decision
The one-year prime rate is expected to stay at 3.0%.
US weekly jobless claims
Claims totalled 199,000 in the previous week.
US Philly Fed Manufacturing Index (August)
A reading of 25.0 is tipped.
Friday August 21
S&P Global Australia PMI Composite (August)
The index read 53.6 in July.
US leading index (July)
The index fell 0.2% in the prior month.
US S&P Global Composite PMI (August)
The index read 54.5 in July.
Key themes to watch
Earnings take centre stage: CommSec’s James Gruber says the week belongs to the Australian earnings season, with BHP, CSL, Pro Medicus and Cochlear all reporting on Tuesday. He says BHP’s share price is hovering near a record and expectations are high, with copper now accounting for more of its earnings than iron ore and increasingly seen as a way to play the artificial intelligence boom. CSL has rebounded around 50% since early June as investors bet the company can turn itself around after a difficult few years. Cochlear has also recovered from its shock April result, and Gruber says markets will focus on whether the recent slowdown in hearing implant sales continues.
The rest of the local reporters: Gruber’s list has JB Hi-Fi, a2 Milk, Aurizon, BlueScope Steel, GPT, Lendlease, IRESS and Growthpoint Properties on Monday; Region Group, HealthCo, Challenger, Reliance Worldwide, Sims and HUB24 joining the big four names on Tuesday; Iluka Resources, Evolution Mining, Temple & Webster, Breville, BWP Trust, Mirvac, Fletcher Building, Santos, The Lottery Corporation, Whitehaven Coal and Healius on Wednesday; SkyCity, Emeco, Northern Star Resources, Dexus, Spark New Zealand, Vicinity Centres, Bega Cheese, APA Group, Downer EDI, Goodman Group, IPH, Auckland International Airport, Brambles, Sonic Healthcare, Zip, Medibank, Megaport, Qube, Cleanaway Waste, Ridley Corp, Super Retail and IDP Education on Thursday; and Coast Entertainment, Lifestyle Communities, Charter Hall, Inghams, Latitude and TPG Telecom on Friday.
The key economic print: Gruber says the labour force figures for July, due Thursday, are the economic release that matters most this week.
US retailers report: Gruber says large American retailers dominate the offshore calendar, with Home Depot on Tuesday and Walmart on Thursday. Other results include Keysight Technology and Jack Henry on Tuesday; Analog Devices, TJX, Lowe’s, Target and Estee Lauder on Wednesday; and Deere and Ross Stores on Thursday.
