US stocks end Friday higher, but the week still closed lower
PANews reported on Aug. 22, citing Jin10, that after a tense week of trading, major US indexes finished Friday in the green as firm economic data offered support. US business activity growth hit its fastest pace in more than four years, the Dow rose about 1%, and the Nasdaq snapped a five-day losing streak. Even so, the week still ended with losses, as investors stayed uneasy about moves in US Treasury yields and a lack of clarity around the situation in the Middle East.
A packed US macro calendar lies ahead
All times below are Beijing time. On Tuesday at 20:15, the US ADP weekly employment change for the week to Aug. 8 will be released. On Wednesday at 18:10, European Central Bank Executive Board member Cipollone is scheduled to speak. At 20:30 the same day, the US will publish July core PCE price index year-on-year and month-on-month readings, July personal spending, the second-quarter annualized GDP revision, and July durable goods orders.
On Friday at 21:45, the August Chicago PMI is due. At 22:00, the initial 2026 benchmark revision to nonfarm payrolls, the final August University of Michigan consumer sentiment index, and the final August one-year inflation expectations will be released. At the same time, Fed Chair Woshi will deliver his first speech at the Jackson Hole Global Central Banking Annual Meeting.
Earnings season heats up in Hong Kong and the US
Next week will also bring a heavy slate of Hong Kong earnings. Li Auto (LI.O), Bilibili (BILI.O), Meituan (03690.HK), as well as banks, airlines, brokerages and oil stocks, are all set to report. In the US, Nvidia (NVDA.O) and PDD (PDD.O) will also release results.