TLDR
- Apple holds its annual product event Wednesday, with a possible foldable iPhone expected
- Oracle reports earnings Thursday with Wall Street watching its AI cloud revenue closely
- Adobe faces scrutiny over whether its AI tools are protecting Creative Cloud growth
- AeroVironment reports Wednesday after a $51 million U.S. Army drone order
- Friday’s CPI report could shape the Fed’s September rate decision
Wall Street heads into a shortened four-day week with several major earnings reports and a key inflation reading on the calendar.
Markets are closed Monday for Labor Day. That leaves investors with a packed schedule from Tuesday through Friday.
The biggest macro event of the week is Friday’s Consumer Price Index report for August. A stronger-than-expected jobs report has already pushed up odds for a Federal Reserve rate hike at its September 15-16 meeting. Fed funds futures currently put the chances of a hike at around 57%.
Producer price data drops Thursday, making the final two days of the week especially important for rate-sensitive stocks.
Earnings in Focus
Apple holds its annual product event Wednesday. The company is expected to unveil the iPhone 18 Pro and Pro Max, along with what could be its first foldable iPhone.
This would be the biggest change to the iPhone’s form factor in years. It is also the first major product launch under new CEO John Ternus.
Investors will watch pricing, availability, and any updates on previously delayed AI features.
Oracle reports fiscal first-quarter results after Thursday’s closing bell. Wall Street expects revenue of around $19.1 billion, up roughly 28% year over year.
The focus is on Oracle Cloud Infrastructure. Investors want to know if the company’s large AI-related order backlog is converting into real revenue fast enough to justify its data-center spending.
Adobe also reports after the close Thursday. The company previously guided for quarterly revenue of $6.67 billion to $6.72 billion and non-GAAP earnings of $6.05 to $6.10 per share.
The key question is whether Adobe’s Firefly AI tools are keeping Creative Cloud competitive against lower-cost generative AI platforms. Subscriber trends and annual recurring revenue will be closely watched.
AeroVironment reports fiscal first-quarter results Wednesday after the close. The defense technology company recently secured a $51 million U.S. Army order for its Switchblade 600 loitering munitions.
Investors will focus on backlog growth and forward guidance given current defense spending trends.
Exxon Mobil has no earnings this week but remains on investor watchlists. Oil markets are sensitive to U.S.-Iran tensions and risks around the Strait of Hormuz.
OPEC+ decided Sunday to hold its October output policy steady. Higher oil prices could support earnings for major producers like Exxon, but they also add to inflation pressure.
A hotter-than-expected CPI reading Friday could further complicate the picture for energy stocks and the broader market.
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