What to Expect in the Week Ahead (NKE, MU, BBBY, KMX)
It's a relatively quiet week, before the storm of third-quarter earnings season picks up in mid October. A handful of major companies report this week, while the economic-data highlight will be the Federal Reserve's preferred inflation measure.
Economic data out this week will include the Census Bureau's durable goods report for August and the Conference Board's Consumer Confidence Index for September, both on Tuesday. The Bureau of Economic Analysis releases the personal income and expenditures report for August on Friday, which will include the personal consumption expenditures price index. The core version of that gauge is what the Fed watches most closely.
Other data out this week pertains to the U.S. housing market, including the Census Bureau's new home sales data for August and S&P CoreLogic's Case-Shiller National Home Price Index for July on Tuesday.
The Federal Reserve Bank of Chicago releases its National Activity Index for August. Consensus estimate is for a 0.32 reading, slightly more than July's 0.27 figure. Prior to the July data, the index had two months of negative readings, which indicates that the economy is growing at a slower rate than the historical average.
The Census Bureau reports new-home sales data for August.
The Census Bureau releases the durable goods report for August. Economists forecast that new orders for durable manufactured goods will remain flat month over month at $273.5 billion. Excluding transportation, new orders are seen rising 0.2% matching the July gain.
The Conference Board releases its Consumer Confidence Index for September. Expectations are for a 104 reading, slightly higher than in August. The index has rebounded from this year's low in July but is well off its recent peak from last summer.
Shares of Porsche, under the official listing name of Dr. Ing. h.c. F. Porsche, are expected to begin trading on the Frankfurt stock exchange. $PORSCHE AUTO HL SE(POAHY.US)$ parent $VOLKSWAGEN AG(VLKAF.US)$ has set a price range that would value the maker of the iconic 911 sports car at 70 billion euros to EUR75 billion ($68.9 billion to $73.6 billion). It would be the largest European initial public offering in more than a decade.
The Bureau of Economic Analysis reports personal income and expenditures for August. Income is expected to increase 0.3% month over month while spending is seen rising 0.2%. This compares with gains of 0.2% and 0.1%, respectively, in July. Economists forecast that the Fed's favored inflation gauge, the core personal-consumption expenditures price index, will rise 4.8% year over year after a 4.6% increase in July.
Source: Finviz, Dow Jones Newswires, Market Watch
Moomoo is an app offered by Moomoo Technologies Inc. that provides information about investments. Moomoo Technologies is not an investment adviser or a broker-dealer and it provides neither investment or financial advice nor securities trading services. All contents such as comments and links posted or shared by users of the community are opinions of the respective authors only and do not reflect the opinions, views, or positions of Moomoo Technologies, its affiliates, or any employees of Moomoo Technologies or its affiliates. You are advised to consult a qualified financial or tax advisor for your personal financial planning and tax situations. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.
1 Comment · 102K Views