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Corporate events: Autodesk (ADSK) hosts its Digital Investor Day with the company looking to rebuild confidence after its earnings day slump. Shares of ADSK rallied more than 10% in the three weeks following the company's last two investor days as Wall Street analysts underpinned their bull cases following the presentations. Also of high interest, Brown-Forman Corporation (NYSE:BF.B) hosts a virtual investor conference with presentations from execs on the company's integrated strategy and priorities that support the Nothing Better in the Market initiative. Meanwhile, Adaptimmune Therapeutics (NASDAQ:ADAP) is expected to issue a Phase 1 update on ADP-A2AFP at the International Liver Cancer Association meeting in a late-week presentation that could impact shares. Also keep an eye on Peloton Interactive (NASDAQ:PTON), with the company poised to set to start selling a less expensive treadmill in U.S. and market its new bike pricing. Check out Seeking Alpha's Catalyst Watch for a detailed list of specific events to watch.
U.S. auto sales: U.S. auto sales are forecast to fall 9% in August as the market is squeezed even tighter by a worsening supply situation. The seasonally adjusted annual rate is expected to finish near 14.3M to mark the slowest sales pace of the year. Cox Automotive Senior Economist Charlie Chesbrough warns that the supply situation could even get worse for General Motors (NYSE:GM), Ford (NYSE:T), Toyota (NYSE:TM), Honda (NYSE:HMC) and Stellantis (NYSE:STLA). "Available inventory on dealer lots has been falling for months, and sales have been constrained further and further as a result. And soon the market will enter the Labor Day holiday weekend, usually one of the highest sales periods of the entire year, but with half the supply they had last year," he notes.
Conference schedule: The Jefferies Semiconductor, IT Hardware & Communications Infrastructure Conference is the highlight event next week. Participating companies include Silicon Motion Technology Corporation (NASDAQ:SIMO), Radware (NASDAQ:RDWR), CEVA (NASDAQ:CEVA), Nova (NASDAQ:NVMI), NXP Semiconductors (NASDAQ:NXPI), ADTRAN (NASDAQ:ADTN), Amdocs (NASDAQ:DOX) and Axcelis Technologies (NASDAQ:ACLS). Some of the other major conferences set for next week include the Latin American Satellite Congress, UBS China A-Share Virtual Conference, Credit Suisse 9th China Internet C-Level Virtual Conference, the Stifel Transportation Conference, the Barclays Media and Telecom Forum and the Deutsche Bank dbAccess 25th Annual European TMT Conference.
Data watch: Traders will have to be sharp for the first few days of the month with reports on Macau gaming revenue, discount broker DARTs, firearm background checks and Class 8 truck orders due out. Airline companies could start to post traffic updates, which are frequently accompanied with guidance updates. The electric vehicle sector will draw some attention when Chinese automakers Nio (NYSE:NIO), XPeng (NYSE:XPEV) and Li Auto (LI) update on August deliveries, while the broader update on China auto sales will be of high interest to Tesla (NASDAQ:TSLA), Volkswagen (OTCPK:VWAGY), Honda Motor (HMC) and Geely Automobile (OTCPK:GELYF) to see how the market share trends shake out. Read about more potential share price catalysts for the week ahead.
Notable annual meetings: The Container Store (NYSE:TCS) on September 1 and Viasat (NASDAQ:VSAT) on September 2.
Barron's mentions: The cover story this week dives into where investors might find opportunities with Chinese stocks after some alarming moves from Beijing this summer. The publication thinks China's most well-known companies like Alibaba (NYSE:BABA), Tencent (OTCPK:TCEHY) and Yum China (NYSE:YUM) are starting to look cheap, with the likelihood of volatility meaning there will be ample opportunity to buy. The point is made that China is still a major source of global growth with diligent savers being encouraged to put more of their $75T in household wealth into a stock market filled with companies well positioned for Beijing's policy makers. Closer to home, Plantronics (NYSE:POLY) is singled out this week as an attractive stock. The company is seen benefiting from a surge in hybrid meetings that mix in-person and virtual participants.
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