The Jackson Hole central bankers' symposium is underway, with Walsh making his debut appearance and delivering a speech. U.S. Treasury Secretary Bessent is expected to announce a new round of fiscal consolidation plans and economic sanctions against Iran. Key U.S. data releases, including the July PCE price index, GDP figures, and the annual revision of non-farm payrolls, are also scheduled. Additionally, NVIDIA's Q2 earnings report will be released, serving as a validation of the AI capital expenditure cycle. Among Chinese concept stocks, Meituan, PDD Holdings, and Bilibili are reporting results, marking the peak period for interim earnings disclosures in the Hong Kong stock market.
Key Events for the Upcoming Week
The Federal Reserve's Jackson Hole Symposium convenes; Fed Chair Walsh makes his debut
The 2026 Jackson Hole Global Central Bankers Symposium will be held from August 27 to 29 in Wyoming, USA, under the theme "Financial Innovation: Implications for Payments and Policy."
Federal Reserve Chair Walsh is scheduled to deliver a keynote address at the Global Central Bankers Symposium in Jackson Hole at 10:00 a.m. Eastern Time (10:00 p.m. Beijing Time) on August 28. Walsh stated that he intends to use this speech to define the "significant issues" facing the Federal Reserve, including concerns regarding the inflation target, productivity, demographic shifts, and global economic shocks.
In a strategy report, TD Securities expects that, given Walsh's management philosophy of avoiding forward guidance, he is unlikely to change his customary approach to discussing the economic outlook. Strategists stated: "The market will look for clues regarding his policy response mechanism and whether he will reaffirm the Federal Reserve's determination to combat inflation."
Earnings reports from companies listed in Hong Kong and the U.S., including NVIDIA, Marvell Technology, PDD Holdings, and Meituan, are being released in rapid succession
The Q2 earnings season enters its final sprint phase. Before the market open on Monday, August 24, $PDD Holdings (PDD.US)$ will release its financial results, with market attention focused on Temu's GMV and profitability, as well as competition in its domestic core business. After the U.S. market close on August 26 Eastern Time (04:00 on August 27 Beijing Time), NVIDIA (NVDA.US) its significant earnings results will be unveiled, serving as the "ultimate test" of the AI capital expenditure cycle. The market is focusing on Blackwell shipments and data center revenue guidance. Additionally, $XPeng Group-W (09868.HK)$ 、 $Meituan-W (03690.HK)$ 、 $MINIMAX-W(00100.HK)$ 、 $Li Auto-W(02015.HK)$ 、 $Bilibili-W (09626.HK)$ 、 $Marvell Technology (MRVL.US)$ and other major companies will also release their earnings reports in due course.
U.S. Treasury Secretary Bessent: New U.S. fiscal consolidation plan to be unveiled; press conference on Iran issue planned
According to reports from Bloomberg and others, U.S. Treasury Secretary Bessent announced on August 20 that President Trump has tasked him and the Director of the Office of Management and Budget with leading a new fiscal consolidation plan, expected to be released early next week. Previously, the U.S. Treasury had announced a doubling of its long-term Treasury bond buyback scale. Bessent stated that the size of a single long-term bond buyback could exceed $4 billion, emphasizing, "We have a large toolkit, so stay tuned."
Following the market attention drawn by efforts to "save U.S. Treasuries," he will hold a press conference during trading hours on Monday local time (early Tuesday Beijing time) to disclose details of the U.S. "economic war" against Iran. The market remains unclear on how the U.S. intends to force Iran to compromise by intensifying economic sanctions that have been in place for nearly half a century, especially after military strikes failed to achieve results.
On Saturday, Rezaei, Secretary of Iran's Supreme National Security Council, publicly stated that any country participating in the imposition of economic restrictions on Iran would be regarded as an enemy. Furthermore, any U.S. actions in the southern shipping lanes of the Strait of Hormuz would become targets for Iranian retaliation, and Iran would strike at any meetings held between the U.S. and anti-Iranian forces in the region.
The Federal Reserve's "preferred inflation indicator," PCE data, and revisions to non-farm payroll data will be released sequentially
At 20:30 on August 26, the July PCE data will be released. If the reading exceeds expectations, it will affect market expectations for the Fed's policy path in September, causing correlated fluctuations in U.S. Treasury yields and global risk assets. Additionally, the revised second-quarter real GDP figure for the U.S. will be released at 20:30 on August 26. On a month-over-month basis, investors expect the Fed's preferred inflation indicator—the core PCE price index—to rise by 0.2%. A larger increase may lead investors to reconsider expectations that the Fed will hold rates steady in September, potentially opening the door for a correction in gold prices. Conversely, if the monthly core PCE inflation data is weaker than expected, it could help push gold prices higher.
Subsequently, on Thursday, August 27, traders will focus on the weekly initial jobless claims report. At 22:00 on Friday evening, the preliminary annual benchmark revision for non-farm payroll data and the final University of Michigan Consumer Sentiment Index for August will also be released.
The preliminary annual benchmark revision for non-farm payroll data will inform the market whether previously reported U.S. employment figures were overestimated or underestimated. This revision may gain heightened importance following recent signs of hiring weakness; if it indicates a significant downturn in the labor market, it could influence expectations regarding Federal Reserve policy.
"World's Largest Gaming Exhibition" Gamescom Opens
The 2026 Gamescom in Cologne, Germany, will be held from August 26 to August 30, 2026 (local time). The pre-show Opening Night Live (ONL) broadcast will begin at 02:00 Beijing time on August 26. $Microsoft (MSFT.US)$ 、 $Nintendo (ADR) (NTDOY.US)$ 、 $Tencent (00700.HK)$ 、 $NetEase (09999.HK)$ , CDPR, and other well-known listed companies will make a collective appearance.
Key earnings calendar for the new week
Monday (August 24)
Keywords: Bessent; PDD Holdings; XPeng; Kingboard Group; Cambridge Industries; SK Hynix
In terms of economic events, U.S. Treasury Secretary Bessent will hold a press conference on Monday during U.S. trading hours (early Tuesday Beijing time) regarding specific actions to strengthen economic sanctions against Iran. Additionally, on August 20, U.S. Treasury Secretary Bessent announced that President Trump had tasked him and the Director of the Office of Management and Budget with leading a new fiscal consolidation plan, expected to be released early in the week. South Korea $SK Hynix (SKHY.US)$ union members will vote on the tentative wage and labor agreement for 2026 from August 24 to 25.
Regarding earnings reports, $PDD Holdings (PDD.US)$ 、 $XPeng Group-W (09868.HK)$ 、 $KBT Group (00148.HK)$ 、 $KBTL (01888.HK)$ 、 Cambridge Industries Group (06166.HK) 、 $Mingming Hen Mang (01768.HK)$ 、 $Luxshare Precision (02475.HK)$ 、 $Leapmotor (09863.HK)$ will announce results after the Hong Kong stock market closes.
Regarding new listings, $Junzheng Shares (03223.HK)$ will start grey market trading at 16:15.
Tuesday (August 25)
Keywords: ADP Weekly; Junzheng Shares; Wuxi Bio
In terms of economic data, the U.S. ADP Employment Change for the week ending August 8 and the U.S. Conference Board Consumer Confidence Index for August will be released.
20:15 U.S. ADP Employment Change for the week ending August 8 (in thousands)
22:00 U.S. Conference Board Consumer Confidence Index for August
In terms of financial events, at 20:00, Thomas Barkin, President of the Federal Reserve Bank of Richmond and an FOMC voter in 2027, will deliver a speech on "The Mysterious U.S. Economy."
Regarding earnings reports, $Wuxi Biologics (02269.HK)$ 、 $Jiangxi Copper (00358.HK)$ 、 $Dongfang Electric (600875.SH)$ 、 $Goldwind Science & Technology (02208.HK)$ 、 $Laopu Gold (06181.HK)$ 、 $Nongfu Spring (09633.HK)$ will announce its results after the Hong Kong stock market closes; $Intuit (INTU.US)$ 、 $Zoom Communications (ZM.US)$It will release its earnings after the U.S. stock market closes.
Regarding new listings, $Junzheng Shares (03223.HK)$ Will officially list on the Hong Kong Stock Exchange at 9:20.
Wednesday (August 26)
Keywords: PCE; GDP; NVIDIA; Salesforce; Li Auto; MINIMAX; CNOOC; SenseTime
Regarding economic data, the US core PCE price index year-on-year for July, the US personal spending month-on-month for July, the revised annualized quarter-on-quarter real GDP growth rate for the US second quarter, and the US durable goods orders month-on-month for July will be released collectively.
20:30 US Core PCE Price Index Year-on-Year for July
20:30 US Personal Spending Month-on-Month for July
20:30 Revised Annualized Quarter-on-Quarter Real GDP Growth Rate for US Q2
20:30 US Core PCE Price Index Month-on-Month for July
20:30 US Durable Goods Orders Month-on-Month for July
In terms of financial events, at 23:45, Thomas Barkin, President of the Federal Reserve Bank of Richmond and a voting member of the FOMC in 2027, will attend a panel discussion; $Baidu Group-SW (09888.HK)$ A general meeting of shareholders is scheduled for August 26 to deliberate on multiple proposals.
Regarding earnings reports, $Li Auto-W(02015.HK)$ 、 $SenseTime-W (00020.HK)$ 、 $MINIMAX-W(00100.HK)$ 、 Sanhua (02050.HK) 、 $Harbin Electric (01133.HK)$ 、 $Sunny Optical (02382.HK)$ 、 $BeiGene (06160.HK)$ will announce its results after the Hong Kong stock market closes; NVIDIA (NVDA.US) 、 $HP Inc (HPQ.US)$ 、 $CrowdStrike (CRWD.US)$ 、 $Salesforce (CRM.US)$It will release its earnings after the U.S. stock market closes.
Thursday (August 27)
Keywords: Jackson Hole; Jobless Claims; Bilibili; Victory Giant Technology; Marvell Technology; IREN
Regarding economic data, the U.S. initial jobless claims for the week ending August 22 will be released.
20:30 U.S. Initial Jobless Claims for the week ending August 22
In terms of financial events, the European Central Bank will release the minutes of its monetary policy meeting at 19:30; the Jackson Hole Global Central Bank Symposium will be held from August 27 to 29.
Regarding earnings reports, $Bilibili-W (09626.HK)$ 、 $Shenghong Technology (02476.HK)$ 、 $Mixue Group (02097.HK)$ 、 $China Vanke (02202.HK)$ 、 $Aluminum Corporation of China (02600.HK)$ 、 $China Life Insurance (02628.HK)$ 、 $Tianqi Lithium (09696.HK)$ will announce its results after the Hong Kong stock market closes; $Marvell Technology (MRVL.US)$ 、 $IREN Ltd(IREN.US)$ 、 $Workday(WDAY.US)$It will release its earnings after the U.S. stock market closes.
Friday (August 28)
Keywords: Nonfarm Payrolls benchmark revision; University of Michigan Consumer Sentiment Index; Meituan; Waller
In terms of economic data, the US Chicago PMI for August, the initial estimate of the 2026 Nonfarm Payrolls benchmark revision, the final reading of the University of Michigan Consumer Sentiment Index for August, and the final reading of the one-year inflation expectation for August will all be released.
21:45 US Chicago PMI for August
22:00 Initial estimate of the 2026 US Nonfarm Payrolls benchmark revision (in thousands)
22:00 Final reading of the University of Michigan Consumer Sentiment Index for August
22:00 Final U.S. one-year inflation expectations for August
In economic events, Federal Reserve Chair Walsh will deliver his inaugural speech at the Jackson Hole Global Central Bankers Symposium at 22:00.
Regarding earnings reports, $Meituan-W (03690.HK)$ 、 $PetroChina (00857.HK)$ 、 $Montage Technology (06809.HK)$ 、 $BYD Company (01211.HK)$ 、 $Tiandu Zhixin (09903.HK)$ 、 $Ganfeng Lithium (01772.HK)$ will announce results after the Hong Kong stock market closes.
Stay ahead of major financial events and spot investment opportunities early! Open Futubull > Market > US Stocks >Economic Calendar/Featured Macro Data, seize the investment opportunity ahead of the curve!
Wishing fellow investors a successful week ahead!
Editor/lambor