BREWING PROFITS
Starbucks reports its third-quarter financial results after the bell on Tuesday.
Analysts forecast that Seattle-based Starbucks earned 95 cents-per-share in the period on sales of $9.3 billion. In the same quarter a year ago, the retail coffee chain posted per-share profit of 84 cents on sales of $8.2 billion. In its most recent quarter, Starbucks enjoyed stronger-than-expected sales as demand in China began to recover.
ONLINE RETAIL BELLWEATHER
Amazon issues its second-quarter earnings report after the bell on Thursday.
Wall Street is expecting the e-commerce giant to post profit of 35 cents per share on $131.4 billion in sales for the quarter. In the same period a year ago, Seattle-based Amazon lost $2 billion, or 20 cents per share, in the three-month period ended June 30. That loss was driven by a $3.9 billion write-down of the value of its investment in electric vehicle start-up Rivian Automotive. Amazon has since returned to profit the past three quarters.
EYE ON JOBS
The Labor Department on Friday issues its July tally of hiring by nonfarm U.S. employers.
Economists forecast that U.S. employers added 200,000 jobs in July, which would be the fewest since December of 2020, but still a solid gain. In June, employers added 209,000 jobs and the unemployment rate ticked down to 3.6%, just above a half-century low. The labor market has mostly held up despite the Federal Reserve’s furious pace of interest rate hikes in the past year-and-a-half.
Nonfarm payrolls, monthly change, seasonally adjusted:
Feb.: 248,000
March: 217,000
April: 217,000
May: 306,000
June: 209,000
July (est.): 200,000
Source: FactSet
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