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Welcome to your new week.
Before we begin — a major reminder that our livestream will take place at 6pm EST TODAY!
Paid subscribers get access to my Dividend Growth Portfolio ($2M Goal) + our monthly livestreams. Paid subscribers will be emailed instructions on how to join the stream this afternoon.
Mark your calendars for 6pm EST TODAY and be on the lookout for an email this afternoon to all paid subscribers with a link!
Key Earnings Announcements:
It should be a relatively quiet earnings week as the main focus in the market revolves around the Fed’s interest rate decision.
Source: Earnings Whispers
Monday (9/16): RF Industries
Tuesday (9/17): Ferguson
Wednesday (9/18): General Mills, Steelcase
Thursday (9/19): Cracker Barrel, Darden Restaurants, Factset, FedEx
Friday (9/20): N/A
What We’re Watching:
1) FedEx (FDX)
Source: FedEx Investor Relations
The last quarterly report for FedEx (+16% YTD) resulted in shares jumping more than +15% after hours. The company beat on both earnings and revenue — while also revealing a drop in capital spending.
FedEx has an ongoing campaign of $4 billion in cost-cutting efforts, which includes the consolidation of its air-shipping and ground-shipping businesses. FedEx Chief Custom Officer Brie Carere has noted that “e-commerce is going to outpace the B2B growth” for the company moving forward.
Analysts loved a +10% quarterly dividend increase that FedEx implemented in June, but they want to know more about long-term contracts. FedEx lost its contract with the U.S. Postal Service (USPS) to its rival United Parcel Service (UPS) back in April.
FedEx is one of those companies that can serve as a bit of an economic bellwether. I’ll be sure to give a full breakdown of these earnings to you all!
FedEx (FDX) Stock Performance, 5-Year Chart, Seeking Alpha
Investor Events / Global Affairs
Dreamforce, EA Investor Day, and the Denver Gold Forum.
Salesforce (CRM) “Dreamforce” Event
Source: Salesforce
Salesforce (+0.3% YTD) will hold its highly anticipated Dreamforce 2024 event Tomorrow. The event boasts noteworthy speakers — including talks from Salesforce CEO Marc Benioff, AMD CEO Dr. Lisa Su, FedEx CEO Raj Subramaniam, and Camping World CEO Marcus Lemonis.
Salesforce (CRM) Stock Performance, 5-Year Chart, Seeking Alpha
Not to mention… Nvidia CEO Jensen Huang will take part in a session on the future of AI. View more details about this action-packed event here.
The Dreamforce event serves as a huge opportunity for Salesforce to improve upon its underperformance in the markets this year.
Electronic Arts (EA) Investor Day
Source: EA Investor Relations
Following their recent releases of College Football 25 and Madden NFL 25 — Electronic Arts (+8.4% YTD) will host its first Investor Day since 2016 on Tuesday.
Electronic Arts (EA) Stock Performance, 5-Year Chart, Seeking Alpha
This event will provide an opportunity to gain insights into EA’s pipeline, strategic plans, and long-term financial outlook. This could also be a key moment for EA to realign investor expectations around its growth strategies.
Denver Gold Forum
Source: Financial Post
The Denver Gold Forum will start today and take place over the next two days. Companies scheduled to present at the high-profile mining equities investment forum include Solitario Resources (XPL), Equinox Gold (EQX), U.S. Gold (USAU), Hecla (HL), and Coeur Mining (CDE).
Source: Apple Stock Charts
“Gold’s surge to repeated record highs should fuel lots of chatter at Denver Gold’s gathering in Colorado Springs, including how it’s helping those who dig the precious metal out of the ground. Bullion has risen +25% this year, repeatedly setting new all-time highs along the way while boosting investor enthusiasm for gold miners.
A Bloomberg Intelligence index of top producers including Newmont Corp., Barrick Gold Corp. and Agnico Eagle Mines Ltd. has outperformed gold’s advance, rising more than +30% this year.”
Major Economic Events
All eyes are on the Fed meeting and retail sales.
Source: Yahoo Finance
Monday (9/16): Empire State Manufacturing Survey
Tuesday (9/17): Business Inventories, Capacity Utilization, Home Builder Confidence Survey, Industrial Production, U.S. Retail Sales
Wednesday (9/18): Building Permits, Housing Starts, Fed Chair Jerome Powell Press Conference, FOMC Interest Rate Decision
Thursday (9/19): Existing Home Sales, Initial Jobless Claims, Philadelphia Fed Manufacturing Survey, U.S. Leading Economic Indicators
Friday (9/20): N/A
What We’re Watching:
FOMC Interest Rate Policy Announcement
Source: CME FedWatch Tool
According to the CME FedWatch Tool — the odds of a 50 basis point cut this week are surging.
One week ago — the odds were 30%.
On Friday — the odds were 50%.
Now on Monday — the odds are 61%.
All of this has happened without much news besides the CPI report that week. It seems like somebody knows something that the rest of the market might not!
Remember — trading around the Fed’s decisions can be risky business. It’s important to always keep in mind that we don’t know for sure what they’re going to do, and making investment decisions purely based off of Jerome Powell’s comments can be ill-advised.
Regardless, it’s VERY important to hear what he’s saying and get a gauge on the central bank’s tone!
We excited to report back about the Fed in the next Week in Review.
2) Retail Sales
Source: Bloomberg
The last retail sales report showed an acceleration by the highest amount since 2023 — despite high prices and high borrowing costs.
The value of retail purchases (unadjusted for inflation) increased +1% in July, which was fueled by a sharp rise in car sales. When excluding autos and gasoline — retail sales rose +0.4%
The forecast for this month is a grim one — with economists expecting a -0.3% monthly change.
Retail sales will be released on Tuesday morning, so it may be the very last piece of economic data that impacts the Fed’s rate decision on Wednesday.
Stay tuned!
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