What to Expect in the Week Ahead (JPM, WFC, PEP Earnings; A Key Inflation Gauge)
September inflation data and the start of earnings season are the highlights for investors this week. The stock market will be open on Monday, but U.S. bond markets will be closed.
The unofficial start of third-quarter earnings season comes on Friday, with results from several big banks. $Citigroup(C.US$, $JPMorgan(JPM.US$, and $Wells Fargo & Co(WFC.US$ will all reporting before the market opens, as will $Blackrock(BLK.US$ and $UnitedHealth(UNH.US$.
Other companies publishing results this week include $PepsiCo(PEP.US$ on Tuesday, then $Delta Air Lines(DAL.US$, and $Domino's Pizza(DPZ.US$ on Thursday.
On Thursday, all eyes will be on the Bureau of Labor Statistics' consumer price index for September. On average, economists are predicting increases of 0.3% in both the headline CPI and the core CPI, which excludes food and energy components. That would bring the year-over-year inflation rate to 3.6% and 4.1%, respectively, both lower than in August.
The BLS will also report the producer price index on Wednesday. The headline PPI is expected to be up 1.6% year over year and the core PPI is seen rising 2.3%. Federal Reserve watchers will closely parse the minutes from the central bank's mid-September policy meeting after their release on Wednesday.
Other economic data out this week will include a pair of sentiment indicators. On Tuesday, the National Federation of Independent Business will release its Small Business Optimism Index for September, then on Friday, the University of Michigan will publish its Consumer Sentiment index for October.
Monday 10/9
Bond markets are closed for the Columbus Day holiday. The Nasdaq and New York Stock Exchange have regular trading hours.
Tuesday 10/10
$PepsiCo(PEP.US$ reports third-quarter fiscal-2023 results.
The National Federation of Independent Business releases its Small Business Optimism Index for September. Expectations are for a 90.9 reading.
Wednesday 10/11
The Federal Open Market Committee releases the minutes from its mid-September monetary-policy meeting.
The Bureau of Labor Statistics releases the producer price index for September. The consensus estimate is for the PPI to increase 1.6% year over year, unchanged from August. The core PPI, which excludes volatile food and energy prices, is expected to rise 2.3%, one-tenth of a percentage point more than previously.
Thursday 10/12
$Delta Air Lines(DAL.US$, and $Domino's Pizza(DPZ.US$ hold conference calls to discuss quarterly results.
$Hormel Foods(HRL.US$ hosts its 2023 investor day.
The BLS releases the consumer price index for September. Economists forecast that the CPI will increase 3.6% from a year earlier, while the core CPI is seen rising 4.1%. This compares with gains of 3.7% and 4.3%, respectively, in August. The annual change in the core CPI is at its lowest level since September 2021, and 2.3 percentage points less than its postpandemic peak from September 2022.
Friday 10/13
$Blackrock(BLK.US$, $Citigroup(C.US$, $Jpmorgan Chase & Co(JPM-C.US)$, $UnitedHealth(UNH.US$, and $Wells Fargo & Co(WFC.US$ announce earnings.
The University of Michigan releases its Consumer Sentiment Survey for October. The consensus call is for a 67.2 reading, about one point less than in September.
Sectors Performance
Source: Dow Jones Newswires, Market Watch, Barron's, Trading Economics
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Chak : Dude report about the Hamas. What is the war market is tanking
Wuji妙妙 : Gap down ?
Slow-Growing : buy soon?
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顺哥 Wuji妙妙: However, it is still necessary to continue to raise interest rates, which are higher than previous basis points