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Holiday-Shortened Week to Bring Services Data

The market will be closed on Monday in observance of Labor Day

Digital Content Manager
Sep 1, 2022 at 10:00 AM
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Investors will be taking a short break from the wild trading that has gripped Wall Street next week. But as they come back from their long Labor Day weekend, they can expect comments from Cleveland Federal Reserve President Loretta Mester, as well as a batch of services data. 

The earnings docket looks relatively bare, though reports are coming from American Eagle (AEO), Bilibili (BILI), Coupa Software (COUP), Dave & Busters Entertainment (PLAY), DocuSign (DOCU), GameStop (GME), Kroger (KR), Nio (NIO), and RH (RH).

Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.

The market will be closed on Monday, Sept. 5 in observance of Labor Day.

The final S&P U.S. services purchasing managers' index (PMI), as well as the Institute for Supply Management (ISM) services index are expected to come out Tuesday, Sept. 6.

Cleveland Fed President Loretta Mester will speak on Wednesday, Sept. 7. An international trade balance update and the Beige Book are also due out. 

The latest initial and continuing jobless claims are on tap for Thursday, Sept. 8, alongside quarterly services and consumer credit data.

The holiday-shortened week will wrap up with a wholesale inventories revision on Friday, Sept. 9.

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
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