Important points
Friday’s September jobs report comes as the Federal Reserve closely monitors a softening labor market. A number of Fed officials are expected to issue comments this week, including Chairman Jerome Powell on Monday. This week, results from the manufacturing and services sector survey will be released, along with construction spending and factory orders data. Apparel companies Nike and Levi’s will report earnings this week, as will food and beverage companies Conagra Brands and Constellation Brands.
The September jobs report, scheduled for Friday, will be closely watched as investors focus economic data on the labor market following the Federal Reserve’s recent interest rate cuts.
On Monday, Federal Reserve Chairman Jerome Powell is scheduled to participate in a moderated discussion at the economic conference. Several other Fed officials are also expected to speak this week. This day also marks the end of the third quarter.
Market watchers this week will examine Purchasing Managers’ Index (PMI) surveys for both manufacturing and services, as well as construction spending and factory order data.
Nike’s (NKE) earnings report comes as the company prepares to bring in a new chief executive officer. Levi Strauss (LEVI) has announced its financial results, as the possibility of superstar Beyoncé endorsing a celebrity brand becomes a hot topic.
Monday, September 30th
Chicago Business Barometer (September) Fed Chairman Jerome Powell speaks Carnival (CCL) reports financial results
Tuesday, October 1st
S&P Global Manufacturing PMI (September) Institute for Supply Management (ISM) Manufacturing PMI (September) Construction Expenditures (August) Job Openings (August) Atlanta Fed President Rafael Bostic, Boston Fed President Susan Collins , Richmond Fed President Tom Barkin speaks Nike, Paychex (PAYX), and McCormick (MKC) report earnings
Wednesday, October 2nd
ADP Employment (August) Federal Reserve Board President Michelle Bowman, Cleveland Federal Reserve President Beth Hammack, Richmond Federal Reserve President Tom Barkin, and St. Louis Federal Reserve President Alberto Musallem give speeches RPM International (RPM), Conagra Brands (CAG) , Levi Strauss Report Income
Thursday, October 3rd
New Unemployment Insurance Claims (Week Ending September 28) S&P Global Services PMI (September) ISM Services PMI (September) Factory Orders (August) Atlanta Fed President Rafael Bostic, Kansas City Fed President Jeff Bostic Schmidt, Minneapolis Fed President Neel Kashkari speak, Constellation Brands (STZ) reports earnings
Friday, October 4th
U.S. employment statistics (September): New York Fed President Williams speaks
September employment report released as Fed monitors labor market
The September jobs report, to be released on Friday, will be watched by market participants as well as the Federal Reserve as they wait to see if the labor market worsens further after August data showed signs of weakness. System board officials will also be watching closely.
Signs of stress in the job market prompted the Fed to cut interest rates more sharply than some economists expected. September’s jobs report could give an indication of whether the central bank needs to continue cutting interest rates to shore up the labor market.
Market watchdogs this week will also examine the PMI survey results for both manufacturing and services, with employment data potentially providing insight into the labor market, while construction spending and factory orders data, which companies This could be an indicator of whether or not it is expanding.
Fed’s statements strengthen after rate cut
Investors will have multiple opportunities to hear from Federal Reserve officials, starting with Chairman Jerome Powell’s moderator remarks at Monday’s economic conference. His comments are the first since the Fed decided to cut interest rates by 0.5 percentage points.
Federal Reserve Governor Michelle Bowman and Kansas City Fed President Jeff Schmidt will speak at the Community Banking Conference. Atlanta Fed President Rafael Bostic, Cleveland Fed President Beth Hammack, Richmond Fed President Tom Barkin and others will speak this week.
On Friday, New York Fed President John Williams attended an event focused on the New York City economy.
Nike reports after new CEO appointment, Levi’s also releases latest information after Beyoncé’s hint
Shoe maker Nike released its financial results this week, and the Dow Jones Industrial Average has soared following the announcement of new CEO Elliott Hill, with its stock price hitting 20 in 20 days. It was announced that he would be tasked with rebuilding the company, which had fallen by nearly 30%. year.
Another notable apparel company to report this week is Levi Strauss, which may be preparing for more brand support from singer Beyoncé after missing revenue estimates last quarter.
