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Wall Street’s major market averages were firmly in the green on Friday, as Treasury yields held steady and Bitcoin (BTC-USD) saw sharp swings. Bitcoin (BTC-USD) is seeing sharp swings Friday as the cryptocurrency extends a volatile rebound from below $64K earlier this week.
A few key economic data releases are scheduled for the coming week, with a majority of them concentrated in the second half. While Monday’s schedule is relaxed, August’s consumer confidence data and July new home sales data will be out on Tuesday. Among Wednesday’s major releases are the PCE price index and durable goods orders for July and Q2 preliminary GDP data. The Jackson Hole Symposium begins on Thursday, while initial jobless claims numbers will also be released.
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Earnings spotlight: Monday: PDD Holdings (PDD), XPeng (XPEV). See the full earnings calendar.
Earnings spotlight: Tuesday: Intuit (INTU). See the full earnings calendar.
Earnings spotlight: Wednesday: Nvidia (NVDA), CrowdStrike (CRWD), Salesforce (CRM), HP Inc. (HPQ). See the full earnings calendar.
Earnings spotlight: Thursday: Marvell (MRVL), Ulta Beauty (ULTA). See the full earnings calendar.
Earnings spotlight: Friday: BYD (BYDDY) (BYDDF). See the full earnings calendar.
Volatility watch: Meta Platforms (META) and Tesla (TSLA) have seen options volatility increase over the last week. The most overbought stocks per their 14-day relative strength index include Crinetics Pharma (CRNX), ContextLogic (LOGC), and OmniAb (OABI). The most oversold stocks per their 14-day Relative Strength Index include Brighthouse Financial (BHF) and QumulusAI (QMLS). Short
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