The income calendar is relatively sparse this week. home builder
Report on monday, thereafter
And sequentially released August sales figures for August and Thursday respectively.
The main event on the economic calendar is the September meeting of the Federal Open Market Committee, which concluded on Wednesday. Changes in interest rates are less likely, but Chair Jerome Powell may have more about the central bank’s monetary policy framework and willingness to let inflation run above 2%.
Lennar reports quarterly results.
Organizes a two-day Virtual Investor Day to discuss its pipeline of drugs.
Adobe and FedEx report earnings.
Organizes a virtual investor day where senior management including CEO Miguel Patricio will discuss the company’s vision.
federal Reserve Bank of New York releases its Empire State Manufacturing Survey for September. The consensus estimate is for August reading of 7.5 above 3.7.
Labor bureau The figures report export and import prices for August. With a 0.8% gain in July, economists forecast a 0.4% month-on-month increase in export prices. Import prices are seeing a 0.6% increase, down from the 0.7% spike in July. In recent months, the increase in import prices has been mainly driven by higher fuel prices.
Federal Open Market Committee Announces its monetary-policy decision. The FOMC is expected to stand with interest rates near zero, but may expand on its recently updated inflation framework.
The National Association Home Builders released their NAHB / Wales Housing Market Index for September. Hopefully to read 78, even with the August figure. August reading cited the December 1998 data as the most in the index’s 35-year history. The housing market has made a remarkably quick and strong recovery from the epidemic. One unproductive of this is increasing lumbar prices.
census Bureau Reports retail sales for August. Consumer spending is expected to increase by 1.3% month-on-month. Excluding autos, the estimate calls for a 1.5% gain. This compares with a jump of 1.2% and 1.9% respectively in July.
census Bureau Reports residential construction data for August. Consensus estimates are for a seasonally adjusted annual rate of 1.44 million of privately owned homes, down from 1.5 million in July. Like most of the real estate market, housing starts have rebounded strongly from their epidemic of 934,000 in April.
Labour Department Report of initial unemployed claims ending the week 12 September. Weekly unemployed claims remain historically high, but have fallen from an average of 1.5 million in June to 992,250 in August.
University of Michigan Releases its Consumer Sentiment Index for September. Ahead of August’s 74.1, economists estimated 75.5 reading.
Conference board Releases its leading economic index for August. Expectations are for a 1.3% gain, broadly in line with the previous month as well. LEI has risen for three consecutive months, but the pace of change has slowed, suggesting that postpaidemic recovery is losing steam.
Write Nicholas Jasinski to [email protected]