Tuesday 9/26

Two retail giants announce earnings. Costco Wholesale reports after the close on Tuesday, and Nike follows suit on Thursday. Shares of Costco are up 22% this year, partly due to the resilience of U.S. consumer spending, while Nike's stock is down 22% due to weakness in China, its third-largest market by revenue.

Wednesday 9/27

The Census Bureau releases the durable goods report for August. Economists forecast that new orders for durable manufactured goods will decline 0.4% month over month, after a 5.2% plunge in July. That was the steepest decrease since the early days of the pandemic in April 2020.

Friday 9/29

The Bureau of Labor Statistics releases the personal-consumption expenditures price index for August. Consensus estimate is for the PCE to increase 3.4% year over year, following a 3.3% gain in July. The Federal Reserve's favored inflation gauge, the core PCE, which excludes food and energy prices, is expected to rise 3.9%, three-tenths of a percentage point less than previously. The core PCE is 1.2 points below its postpandemic peak from February 2022, but still far too high for the Fed, which said at the FOMC confab this past week that interest rates would probably remain higher for longer.

 

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(END) Dow Jones Newswires

September 22, 2023 21:45 ET (01:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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