U.S. stock futures are edging higher after a tumultuous week, as investors watch for key inflation data this week as well as earnings from key consumer bellweather companies like Walmart (WMT) and Home Depot (HD); Disney (DIS), seeking to pump up demand at its theme parks, announced billions of dollars of new attractions as well as an expansion of its cruise ship fleet; the White House looks to crack down on red tape for consumers; Akamai Technologies (AKAM) shares are little changed after soaring 10% Friday; and the Technology Select Sector SPDR Fund (XLK) is under𒈔 pressure this month from the tech selloff and its rotation into Nvidia. Here's what in🎃vestors need to know today.
1. Investors Gear Up for Heavy Inflat🅰ion Data Week, Walmart Earnings
U.S. stock futures are edging higher after a 澳洲幸运5官方开奖结果体彩网:tumultuous week, as investors watch for a slew of economic figures this week—including key 澳洲幸运5官方开奖结果体彩网:consumer inflation data Wednesday that may help justify a potential 澳洲幸运5官方开奖结果体彩网:Federal Reserve 澳洲幸运5官方开奖结果体彩网:rate cut in September. Investors will also be looking out for signs of consumer resilience from a slew of retail earnings, including Walmart (WMT), which reports Thursday and plays to an increasingly value-seeking public. Home Depot (HD), meanwhile, is 澳洲幸运5官方开奖结果体彩网:expected to post year-over-year quarterly sales and profit declines on Tuesday as consumers continue to tighten their belts. Still, the VIX index of implied stock market volatility, which hit its highest levels since early 2020 last Monday, has since retreated, lending some calm to a market hit last week by an 澳洲幸运5官方开奖结果体彩网:unwinding of the yen carry trade and fears of a U.S. recession.
𝔍 2. Disney Announces Massive Theme Parks, Cruise Expansion at🎃 D23
The Walt Disney Co. (DIS), which recently 澳洲幸运5官方开奖结果体彩网:warned of slowing demand at its Experiences segment, is spending billions of dollars to expand its theme park attractions and its cruise ship fleet. Among the announcements the entertainment giant reported at its three-day "D23: The Ultimate Disney Fan Event" in Anaheim, Calif.: the largest expansion in the 53-year history of Orlando's Magic Kingdom, with a new Villains Land and another inspired by the "Cars" franchise; new "Avengers" attractions in its California, Hong Kong, and Shanghai parks; and increasing its cruise ship fleet to 13 from nine by 2031. Disney's shares are edging higher in premarket trading but are down more than 4% year-to-date.
3. White House Aims to Crack Down on ♎Consumer Hassles
The White House launched a new multi-agency initiative to crack down on chatbots, "doom loops," and other corporate hurdles that have made it tough for consumers to get refunds, cancel memberships, or speak to customer service in recent years. Among the initiatives: making it easier to cancel subscriptions and memberships; requiring automatic cash refunds from airlines when flights are canceled or significantly changed; letting customers talk to a human by pressing a single button rather than being stuck in a "doom loop" of menu options; and cracking down "on ineffective and time-wasting chatbots used by banks and other financial institutions in lieu of customer service."
4. Akamai Te🎐cꦗhnologies in Focus After Soaring Friday
Akamai Technologies (AKAM) shares are little changed after a 澳洲幸运5官方开奖结果体彩网:10% surge Friday on the back of 澳洲幸运5官方开奖结果体彩网:higher-than-forecast earnings and increased profit guidance due to strong demand for its computing and security offerings. The results allayed investors' worries that the company's content division was registering slowing growth, as the cloud-services firm said sales in its compute and security d𝕴ivisions made up two-thirds of total revenue foಞr the first time as it pivots to more profitable areas of growth.
5. X🍨LK Tech Sector ETF Edges Higher After Tough Start to Month
The Technology Select Sector SPDR Fund (XLK) is 澳洲幸运5官方开奖结果体彩网:trading down 6% this month, hit by declines in tech shares. Concerns about the U.S. economy's strength contributed to a volatile start in August for the fund, which underwent a 澳洲幸运5官方开奖结果体彩网:rebalancing in June, when it increased its holding in Nvidia (NVDA) to 19% from around 6% ahead of the 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) darling's stock correction. The fund's reduction of its allocation of iPhone maker Apple (AAPL) to 5% from about 22% has also weighed on performance. The fund is edging higher in premarket trading.