What To Expect in the Markets This Week

The September jobs report scheduled for Friday will be followed closely as investors look to the labor market for economic signals after the Federal Reserve’s recent interest-rate cut.

Publish Date: Sunday 29th September 2024
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The September jobs report scheduled for Friday will be followed closely as investors look to the labor market for economic signals after the Federal Reserve’s recent interest-rate cut.

On Monday, Fed Chair Jerome Powell will participate in a moderated discussion at an economic conference. Several other Fed officials will also deliver remarks this week. The day also marks the end of the third quarter.

Market watchers will be studying Purchasing Managers' Index (PMI) surveys this week for both the manufacturing and services sector, as well as construction spending and factory orders data.

Nike’s (NKE) earnings report comes as it prepares to introduce a new chief executive officer (CEO). Levi Strauss (LEVI) releases earnings amid buzz around a potential celebrity brand endorsement by superstar Beyonce.

Monday, Sept. 30

Chicago Business Barometer (September)

Federal Reserve Chair Jerome Powell delivers remarks

Carnival (CCL) reports earnings

Tuesday, Oct. 1

SandP Global manufacturing PMI (September)

Institute for Supply Management (ISM) manufacturing PMI (September)

Construction spending (August)

Job openings (August)

Atlanta Fed President Raphael Bostic , Boston Fed President Susan Collins, and Richmond Fed President Tom Barkin deliver remarks

Nike , Paychex (PAYX), and McCormick (MKC) report earnings

Wednesday, Oct. 2

ADP employment (August)

Federal Reserve Gov. Michelle Bowman , Cleveland Fed President Beth Hammack , Richmond Fed President Tom Barkin, and St. Louis Fed President Alberto Musalem deliver remarks

RPM International (RPM) , Conagra Brands (CAG), and Levi Strauss report earnings

Thursday, Oct. 3

Initial jobless claims (Week ended Sept. 28)

SandP Global Services PMI (September)

ISM Services PMI (September)

Factory orders (August)

Atlanta Fed President Raphael Bostic , Kansas City Fed President Jeff Schmid, and Minneapolis Fed President Neel Kashkari deliver remarks

Constellation Brands (STZ) reports earnings

Friday, Oct. 4

U.S. employment report (September)

New York Fed President John Williams delivers remarks

September Jobs Report Comes as Fed Monitors Labor Market

Friday’s jobs report for September will be closely watched by market participants, as well as Federal Reserve officials, to see if there is further deterioration in the labor market after August data showed signs of weakening.

Signals of stress in the jobs market helped push the Fed to make cuts to interest rates that were bigger than some economists anticipated. The September jobs data could give indications about whether the central bank will need to continue making rate reductions to help shore up the labor market.

Market watchers will also study PMI survey results this week from both the manufacturing and services sector, which could provide insight into the labor market through hiring data, while construction spending and factory orders data could give indications on whether businesses are expanding.

Following Rate Cut, Fed Remarks Ramps Up

Investors will have several opportunities to hear from Federal Reserve officials, starting with moderated remarks from Chair Jerome Powell at an economics conference on Monday. His comments will be the first since the Fed’s decision to cut interest rates by a half-percentage point.

Federal Reserve Gov. Michelle Bowman and Kansas City Fed President Jeff Schmid will deliver remarks at a community banking conference. Atlanta Fed President Raphael Bostic, Cleveland Fed President Beth Hammack, and Richmond Fed President Tom Barkin are among other officials speaking this week.

On Friday, New York Fed President John Williams appears at an event focused on the New York City economy.

Nike Reports After Hiring New CEO, Levi’s Updates After Beyonce Hints

Shoe maker Nike reports its earnings this week, as the Dow Jones Industrial Average component has experienced a share-price surge after announcing its new CEO Elliott Hill, who will be tasked with turning around a company whose share value is down nearly 20% on the year.

December 22, 2024

Story attribution: Terry Lane
Investopedia

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