Investors on Wall Street will closely monitor monthly economic data in the upcoming week, with a particular focus on the consumer price index (CPI) and producer price index (PPI). The PPI data for September is set to be released on October 11, followed by the CPI data on October 12.
Additionally, on October 11, the minutes of the US Federal Reserve’s FOMC meeting held in September will be revealed, providing insight into the central bank’s monetary policy decisions.
In terms of corporate events, several major companies are scheduled to report their earnings in the week ahead. This includes PepsiCo, Neogen, AZZ, Fastenal, Delta Air Lines, Walgreens Boots Alliance, Domino’s Pizza, UnitedHealth, JPMorgan Chase, Wells Fargo, BlackRock, Progressive, and Citigroup. These earnings reports will give investors a glimpse into the financial performance of these companies and may influence market sentiment.
There are also several investor meetings and conferences lined up for the week. Adobe will be holding an investor meeting on October 10, while Maxim Group’s Virtual Tech Conference, Citi’s Global Resources Conference, the Dawson James Annual Investment Conference, and Roth’s Healthcare Opportunities Conference are also scheduled.
In the previous week, US stock indices saw a rally following a strong report on the job market. The Dow Jones Industrial Average rose by 0.87%, the S&P 500 gained 1.18%, and the Nasdaq Composite added 1.6%. However, for the week, the S&P 500 was up 0.5%, the Dow was down 0.3%, and the Nasdaq rose 1.6%.
Other market indicators also experienced changes. The yield on the 10-year treasury reached its highest level since 2007 at 4.78%, and the yield on the 2-year treasury rose to 5.20%. The US dollar strengthened against the Japanese yen and the euro, while crude oil prices and gold prices experienced gains.
In overseas stock markets, indexes were higher across much of Europe and Asia.
Overall, investors will closely monitor economic data, earnings reports, and corporate events in the week ahead to gauge the direction of the market and make informed investment decisions.
Sources:
– Consumer price index (CPI): An index that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
– Producer price index (PPI): A family of indexes that measures the average change over time in the selling prices received by domestic producers of goods and services.
– US Federal Reserve’s FOMC meeting: The Federal Open Market Committee is responsible for implementing monetary policy in the United States.
– Earnings reports: Financial reports released by companies to provide investors with information about their financial performance.
– Dow Jones Industrial Average: A stock market index that indicates the performance of 30 large, publicly-owned companies based in the United States.
– S&P 500: A stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States.
– Nasdaq Composite: A stock market index that includes all the common stocks and similar securities listed on the Nasdaq stock market.
– Yield: The income from an investment, typically expressed as a percentage of the investment’s cost or current value.
– US dollar: The currency of the United States.
– Crude oil benchmark: A pricing reference for crude oil. The US crude oil benchmark is typically West Texas Intermediate (WTI).
– Gold: A precious metal often used as a store of value or in jewelry.
– Silver: A precious metal with various industrial and investment uses.
– Adobe: A software company known for its creative and digital marketing solutions.
– Maxim Group: A financial services firm that provides investment banking, securities trading, and investment advisory services.
– Citi: Citigroup Inc., a multinational investment bank and financial services corporation.
– Dawson James: Dawson James Securities is a full-service investment banking firm.
– Roth: Roth Capital Partners, a full-service investment banking firm specializing in small and micro-cap companies.