The market rally will be tested this coming week.
With Turkey's currency crisis in full swing, and concerns swirling about a Russian debt crisis, investors will have to weigh whether to push stocks beyond their late January highs.
"The decline in the U.S. stock market was relatively subdued on Friday, but history tells us that when currency crises take place...and volatility picks up in the currency markets in a big way...it's only a matter of time before it spills over into the U.S. stock market," says Miller Tabak strategist Matt Maley. "Therefore, those investors who think that this issue will slide off the stock market's back like an egg in a teflon pan...just like the trade/tariff issue has for most of this year...will almost certainly be disappointed eventually."
Dow Jones Industrial Average futures
Here are several key events on TheStreet's radar.
All Eyes on Tesla
Will Tesla (TSLA announce a mind-blowing take private deal? The verdict is out, but in the meantime expect the rumors to run rampant.
On Sunday, Bloomberg reported that Tesla was nearing a fresh financing commitment from Saudi Arabia to make a deal reality.
Meanwhile, TheStreet looks at the bull versus bear debate on Tesla going private.
It's all about those retail stocks this coming week.
Home Depot Inc. (HD will be reporting premarket on Tuesday, Aug. 14. According to FactSet, the EPS is estimated to be $2.85. All eyes on the home improvement company's results following cautious comments on the U.S. housing market from Redfin (RDFN last week.
Watch more on that below.
Macy's Inc. (M will be reporting on Wednesday, Aug. 15. Analysts at FactSet are estimating an EPS of 50 cents a share.
With Goldman Sachs bullish on the consumer, don't be surprised if retailers post better-than-expected results.
The Nvidia Juggernaut
Market darling Nvidia (NVDA will report second quarter earnings on Thursday.
As usual, TheStreet will have a live blog going to report on Nvidia Corp. (NVDA as soon it discloses earnings. TheStreet's @EricJhonsa runs down what you need to know ahead of the Action Alerts PLUS holding's results.