Market Movers: Apple's iPhone Event, Oracle Earnings, and Economic Data in Focus

Stock To Watch Include Apple, Oracle, GameStop, And Rocket Companies

Get ahead of the market by subscribing to Seeking Alpha's Stocks to Watch, a preview of key events scheduled for the coming week. The newsletter keeps you informed of the biggest stories set to make headlines, including upcoming IPOs, investor days, earnings reports and conference presentations. Investors have a busy slate for the first full week of September to mark the traditional end to the summer slowdown in trading volume. The economic calendar will feature the August CPI report, August PPI report, and the University of Michigan consumer survey as the Federal Reserve meeting on September 19 gets even closer on the calendar. Of course, the key question of the week may be if the Federal Reserve is lining up for a rate cut of 50 points, instead of the initial expectation for a 25 point cut. "The August jobs report was clearly to the soft side, giving the Fed further ammo to begin slashing interest rates this month," noted Mike Zaccardi on Seeking Alpha. "The odds of a 50-basis-point cut are higher than ever," he highlighted. The earnings calendar for the week ahead is very light, but still includes key reports from Oracle (NYSE:ORCL), Kroger (NYSE:KR) (analysis), and Adobe (ADBE). GameStop (NYSE:GME) will also report earnings, with some investors questioning what the plan is for the retailer's formidable cash position. In the tech sector, Apple (AAPL) will hold its annual iPhone event and the Goldman Sachs Communacopia Technology Conference will include presentations from a long list of heavyweights, including Nvidia (NVDA), AMD (AMD), and AT&T (T). The week will also see the beginning of the Department of Justice adtech antitrust lawsuit against Google (GOOG) (GOOGL). Late in the week, the beginning of the five-day European Society for Medical Oncology Meeting will attract attention in the healthcare sector. Earnings spotlight: Monday, September 9 - Oracle (ORCL) and Rubrik (RBRK). See the full earnings calendar. Earnings spotlight: Tuesday, September 10 - GameStop (GME), Academy Sports and Outoors (ASO), and Dave & Buster's Entertainment (PLAY). See the full earnings calendar. Earnings spotlight: Wednesday, September 11 - Manchester United (MANU), Oxford Industries (OXM), and Designer Brands (DBI). See the full earnings calendar. Earnings spotlight: Thursday, September 12 - Adobe (ADBE), Kroger (KR), RH (RH), and Signet Jewelers (SIG). See the full earnings calendar. Volatility watch: Options trading volume is elevated on GameStop (GME) ahead of the retailer's earnings report. The most overbought stocks per their 14-day relative strength index include Philip Morris (PM), G1 Therapeutics (GTHX), and Procter & Gamble (PG). The most oversold stocks per their 14-day Relative Strength Index include Dollar Tree (DLTR) and Dollar General (DG) after their recent crushing guidance updates. Short interest has moved higher on Arbor Realty (ABR) and VinFast Auto (VFS). IPO watch: Impact BioMedical (MPCT) is expected to price its IPO and begin to trade next week. The Texas-based company said in an SEC filing that it was looking to offer 2M shares priced between $3 and $5, which would raise around $8M if priced at the midpoint. Impact Biomedical discovers, confirms and patents unique sciences and technologies in the healthcare space that can be developed with external partners. Kairos Pharma (KAPA) is also expected to start trading after a long delay. CPI preview: The August CPI report will be released on September 11. Economists expect the core inflation rate to be up 0.2% month-over-month and 3.2% year-over-year. Bank of America said it expects the August CPI report to continue the good news on the inflation front. "Beyond August, we think that upside risks to inflation have diminished, owing largely to the cooling labor market. The data should strengthen the case for a September cut," noted the BofA economic team. Looking ahead, the firm expects that activity and labor market data will be more important determinants of the pace and depth of the cutting cycle than inflation. While a rate reduction at the Federal Reserve's upcoming meeting on September 18 appears to be a lock, the CPI report could tip the scales between a 25-point cut and a 50-point cut. Investor events: The four-day Goldman Sachs Communacopia Technology Conference will turn heads in the media, communications, tech, and consumer sectors during the week. The potpourri of companies presenting includes Nvidia (NVDA), AT&T (T), DoorDash (DASH), Lyft (LYFT), AMD (AMD), Hasbro (HAS), and Coinbase Global (COIN). Southwest Airlines (LUV) is scheduled to meet with representatives of Elliot Management as the airline company looks to work with its activist investor. Microsoft (MSFT) will hold a cybersecurity conference at its Redmond, Washington campus. The Windows Endpoint Security Ecosystem Summit will bring together leading security firms to address vulnerabilities that surfaced after a problematic software update from CrowdStrike (CRWD) caused widespread system failures in July. Rocket Companies (RKT) will host its first Investor Day event. Bank of America thinks the company will take the opportunity to highlight its AI capabilities, in addition to discussing how the company is positioned to drive higher profitability as mortgage volume increases. At the end of the week, the beginning of the five-day European Society for Medical Oncology Meeting will attract attention in the healthcare sector. Merck (MRK), AstraZeneca PLC (AZN), Regeneron Pharmaceuticals (REGN), Johnson & Johnson (JNJ), Incyte (INCY), and 23andMe (ME) are some of the notable companies due to present data or abstracts. Apple event: Apple (AAPL) is expected to announce at least four new iPhones and possibly new color options at the "It's Glowtime" event scheduled for September 9. Morgan Stanley expects the event will feature the launch of the iPhone 16 family, new Apple Watch models (Series X and Ultra 3), and potentially new AirPods. Analyst Erik Woodring thinks the iPhone 16 family of devices will include a new 3nm chipset (A18), 8GB of DRAM (up from 6GB in the iPhone 15/15 Plus), and the addition of an Action Button. Pre-orders for the iPhone 16, 16 Plus, and 16 Pro/Pro Max are expected to start on September 13th, with in-store availability/shipping to start on September 20. For investors, historically, the iPhone launch event has been a sell-the-news event, with Apple slightly underperforming the market the day of the iPhone launch. However, the AI angle for Apple (AAPL) could make this year different. Wedbush Securities analyst Dan Ives and his team expect developers over the next 6 to 12 months will build hundreds of generative AI-driven apps as part of a technology stack that creates the core building blocks of the consumer AI tidal wave we see coming starting with iPhone 16. Box office preview Warner Bros. Discovery's (NASDAQ:WBD) Beetlejuice Beetlejuice is set to take over the box-office lead from Deadpool & Wolverine (DIS), and is tracking toward the second-best September opening of all time. Warner Bros. is trying to manage expectations around $80M for the film, but whispers have it garnering at least $100M -- better in September than the $91M from 2019's It: Chapter 2, and perhaps even pushing the best September opener, 2017's It, with $123M. Beetlejuice Beetlejuice is a follow-up to 1988's Beetlejuice, the Tim Burton-directed tale of a "bio-exorcist" enlisted to help a recently deceased couple haunt the new residents of their house. The new film returns a few key stars from the original, including Michael Keaton in the title role, along with Winona Ryder and Catherine O'Hara. It's opening wide in a hefty total of nearly 4,600 screens. The U.S. box office is down 15% year-over-year from last year's level through September 6 and is 27% lower than the pre-pandemic level seen in 2019. Our news team's weekend preview of upcoming IPOs, earnings reports, conference presentations, investor days, IPO lockup expirations, FDA decisions, Barron's mentions, and other key events that could impact stocks.

Catalyst Watch: Apple's iPhone event, Oracle earnings, Google antitrust trial, August CPI

Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Seeking Alpha's earnings calendar for a full list of companies due to report. Monday - September 9 Volatility watch - Options trading volume is elevated on GameStop (GME) ahead of the retailer's earnings report. The most overbought stocks per their 14-day relative strength index include Philip Morris (PM), G1 Therapeutics (GTHX), and Procter & Gamble (PG). The most oversold stocks per their 14-day Relative Strength Index include Dollar Tree (DLTR) and Dollar General (DG) after their recent crushing guidance updates. Short interest has moved higher on Arbor Realty (ABR) and VinFast Auto (VFS). All day - A preliminary injunction hearing will be held in the Federal Trade Commission's lawsuit to block Tapestry (TPR) from acquiring rival Capri Holdings (CPRI). All day - Notable companies due to report include Oracle (ORCL) and Rubrik (RBRK). Options trading implies a double-digit share price swing for Calavo Growers (CVGW) after the release of its earnings report. All day - Apple (AAPL) will hold an event titled "It's Glowtime" that is expected to feature details on the iPhone 16 and the suite of AI features included in Apple Intelligence. The public rollout of iOS 18 is also anticipated. All day - The first day of the four-day Goldman Sachs Communacopia & Technology Conference includes presentations from DoorDash (DASH), Uber Technologies (UBER), and Opendoor Technologies (OPEN). All day - The trial phase of the Department of Justice antitrust case against Google (GOOG) (GOOGL) will begin. All day - The 5-for-1 stock split for Tetra Tech (TTEK) will become effective. All day - Southwest Airlines (LUV) is scheduled to meet with representatives of Elliott Management. There is the potential that some details regarding the airline's planned announcements for the Investor Day event on September 26 may be leaked. Tuesday - September 10 Earnings watch - Notable companies due to report GameStop (GME), Academy Sports and Outdoors (ASO), and Dave & Buster's Entertainment (PLAY). Options trading implies a double-digit share price swing for Petco Health and Wellness (WOOF) after the release of its earnings report. All day - Microsoft (MSFT) will hold a cybersecurity conference at its Redmond, Washington campus. The Windows Endpoint Security Ecosystem Summit will bring together leading security firms to address vulnerabilities that surfaced after a problematic software update from CrowdStrike (CRWD) caused widespread system failures in July. All day - Labcorp (LH), Charles River Laboratories (CRL), and Gilead Sciences (GILD) are among the healthcare companies that will take part in the Baird Global Healthcare Conference. All day - Enterprise Products Partners (EPD) will participate in the NYSE Energy & Utilities Investor Access Day. All day - Campbell Soup (CPB) will hold an Investor Day event at the Nasdaq MarketSite in New York City. All day - Cimpress (CMPR) will host its annual Investor Day event. All day - The U.S. Treasury Department will make its buyback announcement. All day - The second day of the Goldman Sachs Communacopia & Technology Conference includes presentations from AT&T (T) CEO John Stankey, Etsy (ETSY) CEO Josh Silverman, Hasbro (HAS) CEO Chris Cocks, Instacart (CART) CEO Fidji Simo, Robinhood Markets (HOOD) CEO Vlad Tenev, and Microsoft (MSFT) CTO Kevin Scott, and Lyft (LYFT) CEO David Risher. All day - OPEC will release its monthly oil report and EIA will publish its short-term energy outlook. All day - Rocket Companies (RKT) will host its first Investor Day event. Bank of America thinks the company will take the opportunity to highlight its AI capabilities, in addition to discussing how the company is positioned to drive higher profitability as mortgage volume increase. All day - Oracle (ORCL) CEO Safra Catz will give a keynote speech at the company's Oracle Cloudworld event on "Customers Winning with the Cloud and AI." MGM Resorts International (MGM) CEO Bill Hornbuckle is one of the notable guest speakers at the event. 9:00 p.m. The Presidential debate between Kamala Harris and Donald Trump could cover some policy questions that impact certain sectors and stocks. Wednesday - September 11 Earnings watch - Notable companies due to report include Manchester United (MANU), Oxford Industries (OXM), and Designer Brands (DBI). All day - The third day of the Goldman Sachs Communacopia & Technology Conference includes presentations from Nvidia (NVDA) CEO Jensen Huang, Salesforce (CRM) CEO Marc Benioff, and Applied Materials (AMAT) CEO Gary Dickerson. 8:30 a.m. The August CPI report will be released. Economists expect the core inflation rate to be up 0.2% month-over-month and 3.2% year-over-year. Thursday - September 12 Earnings watch - Notable companies due to report include Adobe (ADBE), Kroger (KR), RH (RH), and Signet Jewelers (SIG). All day - The 4-for-1 stock split for Cintas (CTAS) will become effective. All day - Notable investor events include Moderna's (MRNA) R&D Day, Belden's (BDC) Investor Day, and Evolus' (EOLS) Investor Day. All day - The fourth day of the Goldman Sachs Communacopia & Technology Conference includes presentations from Warner Bros. Discovery (WBD) CEO David Zaslav and ChargePoint (CHPT) CEO Rick Wilmer. All day - The OptimumBank Virtual Banking Conference will feature former FDIC Chairperson Sheila Bair, Nasdaq Chief Economist Phil Mackintosh, and S&P Global Market Intelligence's Nathan Stovall as speakers. All day - The FTC refile period on the Silk Road Medical (SILK)-Boston Scientific (BSX) deal will expire. 7:15 a.m. The European Central Bank will issue its monetary policy statement. The ECB is expected to fire off a 25-point rate cut to 3.50%. 8:30 a.m. The August PPI report will be released. Economists expect core PPI to be up 0.2% month-over-month. 10:00 a.m. Kroger (KR) will hold its earnings conference call. Options trading implies a 6% swing for the grocery store stock after the report is released. Three suppliers that generate more than 10% of their revenue from Kroger (KR) are Calavo Growers (CVGW), Coca-Cola Consolidated (COKE), and Vital Farms (VITL). Friday - September 13 All day - Notable events include keynote addresses at Roblox's (RBLX) Developers Conference. All day - The beginning of the five-day European Society for Medical Oncology Meeting will attract attention in the healthcare sector. Merck (MRK), AstraZeneca (AZN), Regeneron Pharmaceuticals (REGN), Johnson & Johnson (JNJ), Incyte (INCY), and 23andMe (ME) are some of the notable companies due to present data or abstracts. All day - Kuaishou Technology (OTCPK:KUASF) will hold an Investor Day event during which it is expected to update on its AI initiatives. Seeking Alpha Editor Josh Fineman contributed to this story. More on the markets How To Allocate 10 Dividend Picks To Strategically Enhance Your S&P 500 ETF (SPY) SPY: Many Trends Signal SPY Is Going Lower SPY Triggers Our Sell Signal, Price Looking For A Bottom (Technical Analysis) Megacaps have lagged SPY in H2, while market leadership has shifted to small-caps Nine reasons stocks tanked to start September

The latest jobs report leaves stocks in a tough spot heading into the new week

Wall Street appears to be grappling with what the mixed August jobs data means exactly for markets. Stocks dropped Friday, with the S & P 500 headed for its worst week in a year after the nonfarm payrolls report came in with both good and bad news. On one hand, the unemployment number eased slightly. On the other, the headline jobs number missed expectations and. Additionally, jobs growth for the previous two months saw significant downward revisions. One thing, however, was made clear to some investors by this latest jobs report: The labor market -- and by extension the economy -- is cooling. "The lower unemployment number versus the downward revisions presents a quandary given the pattern of downward revisions indicating more serious economic conditions becoming entrenched," wrote Quincy Krosby, chief global strategist at LPL Financial. .SPX 5D mountain S & P 500 On Friday, the S & P 500 and Nasdaq Composite were headed for losing weeks, down by more than 4% and 5%, respectively. The Dow Jones Industrial Average was on track for a more than 2% decline. 'Uncomfortably close to the ground' Rob Williams, chief investment strategist at Sage Advisory, thinks the Fed will avoid a hard landing, but he said a cooling in the economy has him diversifying his equity allocation. Instead of the market-cap weighted S & P 500, where a few high-flying tech stocks are dominating, he would prefer to broaden his exposure to health care and financials, sticking to quality companies that can weather any economic softness. "I think we're not going to get a hard landing, but we're not going to get a no landing -- and that's kind of what the equity market thinks. I think we're going to get uncomfortably close to the ground, meaning that we're going to have some sub-1.5% GDP quarters, and that's going to worry some people," Williams said. "And given where [price-to-earnings multiples] are, they're a little more vulnerable." He favors the bond market over equities here. Williams said that, what's clear is that the Fed will lower rates meaningfully from where they were over the coming months, a likelihood that has him optimistic on Treasurys over the next six to 12 months. "People forget it's not whether they cut 50 or 25 [basis points], it's where we're heading in the next year and a half in the bond market, and Fed funds is probably heading toward 3%," Williams said. "So that's the more important number because that means rates are going down, and if you have more bonds you're locking in higher yields now and you get to participate in that." Treasury yields fell Friday following the August jobs report, with the 10-year Treasury yield a little lower at 3.71%. Yields move inversely to prices. CPI, PPI The Fed next week will head into the blackout period before their policy meeting on Sept. 17-18. That said, two key inflation reports next week could inform what the central bank's next policy move will be. The August consumer and producer prices reports -- due out Wednesday and Thursday, respectively -- are expected to show the trend of easing inflation remaining intact. Yet any indication of a shift in the narrative has the potential to roil equities. "We just need to avoid any any negative surprises," said John Belton, portfolio manager at Gabelli Funds. CPI is expected to have eased to 2.6% on a yearly basis last month, per FactSet. That would be down from a 2.9% increase in July. Core CPI, which strips out volatile food and energy prices, is expected to have remained unchanged at 3.2%. PPI is similarly anticipated to have fallen to 1.7% from 2.2%, economists polled by FactSet predict. Next week will also bring the first presidential debate between Vice President Kamala Harris and former President Donald Trump, an event traders will closely watch as the candidates outline their economic policies. Apple will also have its "It's Glowtime" event where the tech giant is anticipated to launch its iPhone 16. Investors in the world's largest public company are hoping for fresh details into Apple's artificial intelligence endeavor, called "Apple Intelligence." Analysts, however, are cool on the stock. Week ahead calendar All times ET. Monday Sept. 9 10 a.m. Wholesale Inventories final (July) 3 p.m. Consumer Credit (July) Earnings: Oracle Apple's "It's Glowtime" event Tuesday Sept. 10 6 a.m. NFIB Small Business Index (August) Goldman Sachs' Communicopia and Tech Conference U.S. presidential debate Wednesday Sept. 11 8:30 a.m. Consumer Price Index (August) 8:30 a.m. Hourly Earnings final (August) 8:30 a.m. Average Workweek final (August) Thursday Sept. 12 8:30 a.m. Continuing Jobless Claims (08/31) 8:30 a.m. Initial Claims (09/07) 8:30 a.m. Producer Price Index (August) 2 p.m. Treasury Budget (August) Earnings: Adobe , Kroger Friday Sept. 13 8:30 a.m. Export Price Index (August) 8:30 a.m. Import Price Index (August) 10 a.m. Michigan Sentiment preliminary (September)