Catalyst Watch: Powell heads to Congress, eyes on CPI, and major banks report

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 – July 8

• Volatility watch – Options trading volume is elevated on Faraday Future Intelligent (FFIE) and Conn’s (CONN). The most overbought stocks per their 14-day relative strength index include Spectral Capital (OTCPK:FCCN), Bio Essence (OTCPK:BIOE), and Simply Better Brands (OTCQB:SBBCF). The most oversold stocks per their 14-day Relative Strength Index include Thunder Power (AIEV), SolarEdge (SEDG), and Sonoco (SON). Short interest is high on Hertz Global (HTZ), Carvana (CVNA), and Cinemark Holdings (CNK) heading into next week’s action.
• Earnings watch – Notable companies due to report include Greenbrier (GBX).
• All day – The Walmart (WMT) Deals shopping event will begin.
• 10:00 a.m. The Manheim Used Vehicle Index is expected to be released.

Tuesday – July 9

• Earnings watch – Notable companies due to report include Helen of Troy (HELE) and Kura Sushi (KRUS).
• Media watch – The five-day Allen Conference will begin in Sun Valley, Idaho. The list of heavy-hitter invitees includes OpenAI CEO Sam Altman, Meta (META) CEO Mark Zuckerberg, Amazon (AMZN) Executive Chairman Jeff Bezos, Apple (AAPL) CEO Tim Cook, Salesforce (CRM) CEO Marc Benioff, Uber Technologies (UBER) CEO Dara Khosrowshahi, Warner Bros. Discovery (WBD) CEO David Zaslav, and Airbnb (ABNB) CEO Brian Chesky. Some analysts think this year’s media mogul confab will generate more headlines than has been seen recently.
• All day – The three-day SEMICON West conference will begin. The event showcases the latest advancements in the microelectronics sector, covering electronic design automation, device fabrication, and final manufacturing, including assembly, packaging, and testing.
• 8:15 a.m. Federal Reserve Vice Chair for Supervision Michael Barr will speak before the “Financial Inclusion Practices and Innovations” Conference hosted by the Federal Reserve Board.
• 10:00 a.m. Federal Reserve Chairman Jerome Powell will give his semiannual report on monetary policy to Senators.
• 12:30 p.m. Federal Reserve Board Governor Michelle Bowman will give introductory remarks before the “Financial Inclusion Practices and Innovations” Conference hosted by the Federal Reserve Board.

Wednesday – July 10

• Earnings watch – Notable companies due to report include Manchester United (MANU) and PriceSmart (PSMT).
• All day – Federal Reserve Chairman Jerome Powell will testify before the House Financial Services committee.
• All day – Samsung’s (OTCPK:SSNLF) next Galaxy Unpacked event will take place in Paris. Industry watchers expect to see new foldables and smartwatches to be unveiled, as well as the arrival of the Galaxy Ring smart ring.
• All day – Super Micro Computer (SMCI), Balchem (BCPC), Gibraltar Industries (ROCK), Federal Signal (FSS), and Helios Technologies (HLIO) are some of the companies set to participate at the CJS Summer New Ideas Conference.
• All day – OPEC will publish its monthly Oil Market Report.
• All day – Amazon (AMZN) will hold an AWS Summit in New York City.
• All day – Nasdaq will release its latest short interest report.
• All day – Axcelis Technologies (ACLS) will participate in the 16th Annual CEO Investor Summit 2024.

Thursday – July 11

• Earnings watch – Notable companies due to report include Delta Air Lines (DAL), PepsiCo (PEP) and Conagra Brands (CAG).
• All day – Tyson Foods (TSN) will hold its Demo Day 2024. The event offers startups an exclusive platform for potential partnership opportunities with Tyson. Selected startups could receive mentorship from Tyson Foods executives, access to pilot and testing programs, possible proof of concepts, and the potential for commercial partnerships.
• All day – Notable investor events include Chewy’s (CHWY) annual meeting and Axcelis Technologies’ (ACLS) Investor Day.
• All day – McGrath RentCorp (MGRC) will hold a special shareholder meeting to vote on the previously announced proposed acquisition by WillScot Mobile Mini (WSC) and other related proposals.
• All day – Blue Bird Corporation (BLBD) will participate in the STN West Conference. Shares of Blue Bird have rallied in the past after showing off electric school bus advancements at similar events.
• All day – IEA will publish its Monthly Oil Market Report.
• 8:30 a.m. The June Consumer Price Index report will be released.
• 10:00 a.m. Delta Air Lines (DAL) will hold its earnings conference call. Options trading implies a 6% share price swing after the report is dropped. United Airlines (UAL), Copa Holdings (CPA), and Alaska Air (ALK) are the three airline stocks that correlate the closest to Delta after its earnings report is released.

Friday – July 12

• Earnings watch – Notable companies due to report include Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC).
• 8:30 a.m. The June Producer Price Index report will be released.
• 12:00 p.m. USDA will publish its report on World Agricultural Supply & Demand.

Seeking Alpha Editor Josh Fineman contributed to this story.