This week’s earnings reports focus on Tuesday and Thursday.
all results of the release Tuesday, while
Alibaba Group Holding
it also hosts virtual investor events Monday through Wednesday, while
shareholders will vote on its sale proposal a
The main event on the economic data front this week is the September employment report from the Bureau of Labor Statistics on Friday. Non-farm payrolls are expected to rise by 932,500, after an increase of 1.37 million in August. The unemployment rate is expected to drop to 8.2% from 8.4%.
Other data released this week include the Conference Board’s Consumer Confidence Index for September Tuesday, the Bureau of Economic Analysis final estimate for second-quarter gross domestic product on Wednesday, and the BEA’s personal income and spending data for August Thursday. .
Investors will also tune in to the first presidential debate between President Donald Trump and former Vice President Joe Biden on Tuesday. They will listen for any additional color on the candidates’ political plans and look for any impact on the polls after the debate.
Alibaba Group Holding hosts a virtual Investor Day which continues until Wednesday. Speakers will include CEO Daniel Zhang.
The Federal Reserve Bank of Dallas publishes its Texas Manufacturing Outlook survey for September. The consensus estimate is for an 8.3 reading, roughly even with the August figure.
and Micron Technology report earnings.
The first of three presidential elections the debates between President Donald Trump and former Vice President Joe Biden take place at Case Western Reserve University in Cleveland.
The Conference Board publishes its Consumer Confidence Index for September. Economists are expecting a reading of 90, higher than the 84.8 in August. The index’s post-pandemic high was 91.7 in July.
Versions of ADP its September national employment report. The economy is expected to add 625,000 private sector jobs, up from 428,000 in August. Since they lost nearly 20 million jobs in March and April, 43% of the total, or 8.5 million jobs, has been recovered, according to ADP.
The Bureau of Economic The analysis reports his final estimate for second quarter gross domestic product. The economy is projected to contract at an annual rate of 31.7%, which would be unchanged from the BEA’s second estimate published in late August.
The National Association of Realtors releases its Pending Home Sales Index for August. The consensus estimate is a 2.3% increase, a deceleration from 5.9% in July. Home sales are in the midst of a V-shaped upswing, with sellers seeing their homes go under contract in record time, according to Lawrence Yun, chief economist at NAR.
The Procurement Institute Management publishes the Chicago Purchasing Managers Index for September. Economists are expecting a reading of 52.1, slightly higher than August’s 51.2.
Constellation Brands and PepsiCo report quarterly results.
The BEA reports personal income and spending for August. Income is expected to decline 2.8% month over month, while consumption is expected to increase 0.9%. This compares to gains of 0.4% and 1.9%, respectively, in July.
The Labor Office Statistics publish the employment report for September. Non-farm employment is expected to rise by 932,500, after gaining 1.37 million in August. The main unemployment rate is seen to drop to 8.2% from 8.4%.
Noble Energy holds a special meeting of shareholders seeking approval for its proposed merger with Chevron, which will acquire all outstanding shares of Noble. The all-equity transaction, with a company value of $ 13 billion, was first announced in late July.
Write to Nicholas Jasinski at firstname.lastname@example.org