Five things you need to know before the market opens on Thursday August 17:
1. -- Stocks nudge higher, Treasury yields leap, as Fed minutes rattle markets
Hawkish Fed minutes, a sputtering China recovery and further yen weakness as markets in risk-off mode Thursday, with 10-year Treasury bond yields testing the highest levels in sixteen years.
2. -- Jobs data in focus as Fed notes wage growth in hawkish rate outlook
A resilient job market, where wages are rising firmly past the level of headline inflation, remains a key concern for policymakers and rate traders as the economy continues to rip.
3. -- Walmart earnings on deck amid mixed results from rivals Target, Home Depot
Walmart, which has been leaning on grocery sales to offset a pullback in discretionary spending, will report second quarter earnings prior to the opening bell.
4. -- Applied Materials earnings to focus on China demand, chip market strength
Chipmaking equipment maker Applied Materials will publish third quarter earnings after the close of trading.
5. -- Cisco powers higher as AI potential offsets muted 2024 revenue outlook
Cisco CEO Chuck Robbins said AI will be a 'huge opportunity' for the network equipment chipmaker in comments that helped offset a muted 2024 revenue forecast.
