Welcome Back,

The hottest stock of the year will report earnings tomorrow ! Nvidia…

Together with Sauce Bae 🤝🏽

^{Sauce Bae: The healthy low sodium pineapple habanero and turmeric infused hot sauce that was featured on the multi-million viewer show Hot Ones.}

Market Headlines 👀 

• US payrolls could see a major revision, which could affect 500k+ jobs.

• US existing home sales decreased 2.2% from last month to 4.07m annualized.

• Softbank (SFTBY) chipmaker Arm files for a US IPO to list on the Nasdaq.

• Microsoft (MSFT) to integrate python programming into Excel the company previewed today.

• Alphabet (GOOGL) announces it will begin purging accounts that haven’t been used in two years or longer.

• Facebook (META) announces SeamlessM4T, its newest multi-language AI model.

• S&P Global (SPGI) follows Moody’s and announces multiple major bank rating downgrades.

• Charles Schwab (SCHW) announces job and real estate cuts which could save the company over $500m.

Earnings 💸

• Lowes (LOW)

  • EPS: $4.56 beats (exp. $4.50)

  • Revenue: $25b meets (exp. $25b)

• Dicks Sporting Goods (DKS)

  • EPS: $2.82 misses (exp. $3.80)

  • Revenue: $3.22b misses (exp. $3.24b)

  S&P 500 Heat Map

Recap Around the Street 🧠

Nvidia stock performance and revenue estimates below. Earnings tomorrow after the close!

Overall deposits still above pre pandemic levels. This remains an income fueled economy supported by full employment but with a smaller fiscal tailwind. (Contributed by Benjamin Lavine, CIO at 3D/L Capital).

Market Preview 🎞️

• Wednesday, August 23rd: MBA mortgage applications;S&P Global manufacturing, services and composite PMIs; New home sales

• Wednesday earnings: Snowflake (SNOW), Nvidia (NVDA), Splunk (SPLK), Grab Holdings (GRAB), Autodesk (ADSK), Foot Locker (FL),and Peloton (PTON)

• Thursday, August 24th: Weekly jobless claims; Durable good orders

• Thursday earnings: Affirm (AFRM), Ulta Beauty (ULTA), Marvell (MRVL), and Workday (WDAY)

• Friday, August 25th: University of Michigan sentiment and inflation expectations survey; Jerome Powell speaks at Jackson hole

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

That’s all for today, folks! We’ll be back around the same time tomorrow with a curated list of important news, economic data and market highlights. 

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