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Disney, UPS earnings, consumer inflation, Cadillac’s new Escalade in week ahead

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A slew of quarterly earnings will hit Wall Street this week, as well as two key reports on inflation, as investors continue to wrestle with Fitch Ratings’ downgrade of U.S. credit worthiness last week and the potential fallout. 

All three of the major indexes fell last week over 1%. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35065.62 -150.27 -0.43%
SP500 S&P 500 4478.03 -23.86 -0.53%
I:COMP NASDAQ COMPOSITE INDEX 13909.238375 -50.48 -0.36%

The tech-heavy Nasdaq Composite dropped the most at 3% due to weakness in shares of Apple after forecasting a slowdown in revenue growth next quarter. 

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Monday, Aug. 7

Tyson Foods reports 

Consumer credit data in the U.S. will be released to start the week’s economic reporting, while quarterly earnings from Tyson Foods, Lucid Motors, Beyond Meat and Paramount Global kick off earnings. 

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In May, Tyson Foods announced the company would shut down two of its poultry plants and lay off nearly 1,700 workers as it tries to improve its chicken operations that produce about one-fifth of the U.S. supply.

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Ticker Security Last Change Change %
TSN TYSON FOODS INC. 56.46 +0.19 +0.34%
LCID LUCID GROUP INC. 6.62 -0.27 -3.92%
BYND BEYOND MEAT INC. 15.74 -0.22 -1.38%
PARA PARAMOUNT GLOBAL 15.63 +0.54 +3.58%

Tuesday, Aug. 8

Duke Energy, Rivian Automotive, Lyft and UPS will report results Tuesday. 

For the delivery giant, it will be the first quarter following the $30 billion contract inked with the Teamsters last month. 

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Meanwhile, Lyft reported a disappointing outlook in May and announced last month it would shutter its car rental business and lay off about 60 workers. Shares of rival Uber could also be active. 

Ticker Security Last Change Change %
UBER UBER TECHNOLOGIES INC. 45.19 -0.70 -1.53%
LYFT LYFT INC. 10.85 -0.66 -5.73%

LYFT WILL IMPLEMENT MORE JOB CUTS

Wednesday, Aug. 9

Disney CEO Bob Iger in the spotlight

The Walt Disney Company will showcase Wednesday’s list of quarterly earnings, alongside Honda and Lordstown Motors.

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Disney has been rocked in recent months by executive turnover, declining theme park attendance and legal battles with Florida Gov. Ron DeSantis. Amid the turmoil, CEO Bob Iger is under pressure to formalize a succession plan.

Bob Iger

Iger inked a two-year extension with Disney in early July, ensuring he held the chief executive position at the California-based entertainment giant until the end of 2026. 

Disney shares are little changed this year compared to the S&P 500’s 16.6% gain. 

Also on Wednesday, economic reporting will include data on gasoline inventories, crude oil imports and supply. 

Over the last three months, the price of oil is up nearly 16% and is now roughly 2.72% higher on the year.

Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 73.79 +0.65 +0.89%

And GM’s Cadillac is expected to unveil a new version of its electric Escalade. 

Ticker Security Last Change Change %
GM GENERAL MOTORS CO. 36.58 -0.33 -0.89%
GM Escalade

Thursday, Aug. 10

Inflation Check

The consumer price index (CPI) for July is expected to show inflation continues to moderate. Economists expect a 3.1% rise down from June’s 3% increase, while core inflation is expected to hold at 4.8%. Both levels remain above the Federal Reserve’s 2% mandate. 

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In earnings, China’s Alibaba is set to report, along with Ralph Lauren, a measure of luxury spending. 

Ticker Security Last Change Change %
BABA ALIBABA GROUP HOLDING LTD. 96.90 -0.68 -0.70%
RL RALPH LAUREN CORP. 131.74 -0.47 -0.36%

Friday, Aug. 11

More inflation data 

The producer price index (PPI) is expected to show a mixed bag. Annually, inflation is seen rising 0.7% above the prior month’s 0.1%, while core inflation is seen easing to 2.1% vs. 2.4%. 

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