Monday 18 August
- First-half results from BATM Communications and Thungela Resources
- Rightmove UK house price index
- EU trade balance
- US NAHB housebuilding industry survey
- In the US, quarterly results from Palo Alto Networks
Tuesday 19 August
- First-half results from IWG and Tribal
- US new housing permits
- US new housing starts
- In Australia, full-year results from BHP
- In Asia, quarterly results from Xiaomi
- In Europe, quarterly results from Coloplast
- In the US, quarterly results from Home Depot, Medtronic, Amer Sports and Toll Brothers
Wednesday 20 August
- First-half results from Costain, Ithaca Energy and Kenmare Resources
- Interest rate decision from the Reserve Bank of New Zealand
- Chinese one- and five-year interest rates
- UK inflation
- EU inflation
- US oil inventories
- In Asia, quarterly results from Hong Kong Exchanges and Baidu
- In Europe, quarterly results from DFDS
- In the US, quarterly results from Lowe’s, Analog Devices, Estée Lauder and Coty
- Target second-quarter results
American retailers Target and Walmart will announce their second quarter results on Wednesday and Thursday respectively, as analysts look for signs of the impact of tariffs on the American consumer.
Both companies raised profit warnings in the spring, while analysts have suggested Trump’s tariffs could raise input costs on imported goods and dampen consumers’ spending power at the same time.
“The debate over tariffs and their potential impact upon the US economy remains as relevant and fierce as ever,” said AJ Bell investment director Russ Mould and head of financial analysis Danni Hewson.
“There are suggestions that a slight increase in unemployment and the cumulative impact of inflation over the past three to four years are finally catching up with the American consumer, even before the possibility that US importers eventually stop swallowing the extra costs and start passing them on in the form of higher prices for their customers.”
“Walmart is a bellwether for the strength of the American consumer as the largest retailer in the United States selling everything from groceries to electronics, clothing and toys,” added interactive investor head of investment Victoria Scholar.
“With Trump’s trade policy impacting US consumer confidence and prices, investors will be paying close attention to see whether the import levies have hit Walmart’s top and bottom lines as well as prices on the shelves. As a company that prides itself on rock bottom prices, Walmart has already expressed frustration about the extra costs associated with tariffs, particularly from China.”
Thursday 21 August
- Flash purchasing managers’ indices (PMIs) for manufacturing industries in Japan, Asia, Europe, the UK and US
- EU consumer confidence
- US existing homes sales
- Jackson Hole symposium
- US weekly initial unemployment claims
- In Australia, quarterly results from Brambles
- In Asia, quarterly results from AIA
- In Europe, quarterly results from Aegon, GN Store Nord and Tessenderlo
- In the US, quarterly results from Zoom Communications and Dollar Tree
- Hays full-year results
- Walmart second quarter results
Friday 22 August
- GfK UK consumer confidence survey
- UK retail sales
- Japanese inflation
- In Asia, quarterly results from Meituan
- In South Africa, quarterly results from GoldFields
