U.S. financial markets will be closed in observance of Labor Day Monday, but the following day investors will be greeted with a busy earnings docket and economic data as September begins.
The tech-heavy Nasdaq has gained over 34% this year, outperforming both the Dow Jones Industrial Average and the S&P 500.
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Labor Day — financial markets closed
U.S. stock and bond markets will be closed for Labor Day with trading resuming Tuesday.
Goldman Sachs hosts conference
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The Goldman Sachs Communacopia + Technology Conference will begin Tuesday. Nvidia, AMD and Intuit are all expected to deliver presentations that will be closely watched by investors for updates on business and AI initiatives.
Nvidia has been riding the AI wave, and shares have gained over 230% this year, closing just below the all-time high of $487 and change Friday.
Economic data expected includes total vehicle sales, factory orders and durable goods.
Fed Beige book
GameStop, American Eagle Outfitters and Dave and Buster’s Entertainment will report earnings after the bell on Wednesday.
The U.S. Federal Reserve will release its Beige Book report on current economic conditions in each of the 12 Federal districts in the U.S.
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Also on Wednesday, the latest data on imports, exports and trade balance will be released.
Jobless claims are slated for the day, with earnings reports expected from DocuSign and Smith & Wesson.
Mortgage rates will also be closely watched. They are hovering at 7.23% for a 30-year fixed rate.
Kroger will report to shareholders Friday, giving the market another look at the impact of inflation as the nation’s largest grocer.
On the economic front, data on wholesale trade and inventory will be released to close the week.
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