Wall Street week ahead: Investors eye inflation data, Apple event | Stock Market News
Source: Live Mint
After Friday’s rout on Wall Street due to disappointing jobs data, in the week ahead investors will have three major economic reports to watch closely.
A jobs report released by the US Labor Department on Friday showed a continued slowdown in the labor market.
Next week, the economic calendar will feature reports on the consumer price inflation and wholesale inflation for August, and the University of Michigan’s consumer survey.
On the earnings front, the next week will see big companies such as Oracle, Kroger, and Adobe declare their quarterly results.
Economic events
On September 9 (Monday), a report on consumer credit for August will be released.
On September 10 (Tuesday), NFIB optimism index report for August will be released.
On September 11 (Wednesday), Consumer Price Index (CPI) data for August will be declared.
September 12 (Thursday), will see the release of Producer Price Index (PPI) data for August.
On September 13 (Friday), a report on consumer sentiment (prelim) for this month will be issued.
Earnings
Following companies are due to report second quarter earnings in the week ahead — Oracle, Rubrik, GameStop, Academy Sports, Outdoors, Dave & Buster’s Entertainment, Manchester United, Oxford Industries, Designer Brands, Adobe, Kroger, RH, and Signet Jewelers.
Apple event
Apple will hold its annual iPhone event on Monday.
At the event, the tech giant is likely to unveil latest model of iPhones, Apple watches and AirPods.
US markets last week
On Friday, US stock indices closed sharply lower on weak jobs data for August.
The Dow Jones Industrial Average fell 410.34 points, or 1.01%, to 40,345.41,
the S&P 500 lost 94.99 points, or 1.73%, to 5,408.42 and the Nasdaq Composite lost 436.83 points, or 2.55%, to 16,690.83.
The 2-year Treasury yield dropped to 3.66 per cent.
Crude oil prices declined 2% on Friday after data US jobs data.
Brent crude futures were down $1.63, or 2.24%, to $71.06 a barrel. US West Texas Intermediate crude futures fell $1.48, or 2.14%, to$67.67.
Gold prices eased on Friday. Spot gold fell 0.8% to $2,495.86 per ounce. US gold futures settled 0.7% lower at $2,524.60. Spot silver fell 3.1% to $27.92.
