Preview -- Barron's
October 07 2022 - 10:00PM
Dow Jones News
Monday 10/10
Fixed-income markets are closed in observance of Columbus Day
and Indigenous Peoples' Day. The New York Stock Exchange and Nasdaq
keep regular trading hours.
Tuesday 10/11
The National Federation of Independent Business releases its
Small Business Optimism Index for September. The consensus estimate
is for a 91.8 reading, matching the August figure. The index
remains mired near a decade low.
Wednesday 10/12
PepsiCo releases third-quarter fiscal-2022 results.
The Federal Open Market Committee releases the minutes from its
late-September monetary-policy meeting. The FOMC at that meeting
raised the federal-funds rates by three-quarters of a percentage
point, for a third consecutive time, to 3%-3.25%.
The Bureau of Labor Statistics releases the producer price index
for September. Economists forecast that the PPI will jump 8.4% year
over year, after an 8.7% increase in August. The core PPI, which
excludes volatile food and energy prices, is seen rising 7.2%,
compared with 7.3% previously. The PPI spiked a record 11.7% in
March and has since steadily, albeit slowly, declined.
Thursday 10/13
BlackRock, Delta Air Lines, Domino's Pizza, Fastenal, and
Walgreens Boots Alliance hold conference calls to discuss
earnings.
The BLS releases the consumer price index for September.
Consensus estimates are for a year-over-year increase of 8.1% for
the CPI and 6.5% for the core CPI. This compares with gains of 8.3%
and 6.3%, respectively, in August. The S&P 500 rallied nearly
6% this past Monday and Tuesday on the hopes -- once again -- of a
Fed pivot, and a lower-than-expected CPI would be cheered by both
Main Street and Wall Street.
Friday 10/14
First Republic Bank, PNC Financial Services Group, U.S. Bancorp,
and UnitedHealth Group report quarterly results.
The University of Michigan releases its Consumer Sentiment
Survey for October. The consensus call is for a 57.5 reading, about
one point less than the September data. Consumer expectations for
inflation in one and five years were 4.7% and 2.7%, respectively,
in September. Those readings are each expected to decrease by 0.1
percentage point.
The Census Bureau reports spending data for September.
Economists forecast that retail sales will increase 0.2% month over
month, after gaining 0.3% in August. Excluding autos, sales are
expected to be flat. Consumer spending has proven resilient despite
higher inflation, aided by a strong job market and excess
savings.
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(END) Dow Jones Newswires
October 07, 2022 21:45 ET (01:45 GMT)
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