What will drive the markets this week?
Stocks in the US rose last week to end a three-week streak of consecutive weekly losses. Investors went on a buying spree in the week despite concerns about the economic outlook. The three weeks of losses began in mid-August that had been triggered by concerns about the impact of tighter monetary policies and signs of an economic slowdown in Europe and China.
In Europe, the largest market-moving event last week was the death of the Queen of England, with The Bank of England on Friday saying it would postpone its September Monetary Policy Committee meeting by a week as the country enters a period of national mourning.
This week will be an eventful week of economic reports in the U.S. and abroad. On Tuesday, the Labor Department’s Consumer Price Index (CPI) will offer the latest update on consumer inflation. The Producer Price Index (PPI) will follow on Wednesday. On Thursday, August retail sales figures will be released, along with updates on the strength of the industrial and manufacturing sectors. The preliminary September reading of the Michigan Consumer Sentiment Index (MCSI), due on Friday, will provide a key update on consumer confidence. Inflation and GDP growth figures from the U.K. will also be released.
Below are events expected to move markets in the week.
Monday, September 12
- Oracle Corp. (ORCL), Legend Biotech (LEGN), and Braze Inc. (BRZE) report earnings
- Consumer Inflation Expectations (Aug)
- U.K. GDP Growth (July)
- U.K. Industrial Production (July)
Tuesday, September 13
- CPI Inflation Rate (Aug)
- CPI Core Inflation Rate (Aug)
- NFIB Business Optimism Index (Aug)
- IBD/TIPP Economic Optimism Index (Sep)
- Eurozone Zew Economic Sentiment (Sep)
- Germany Inflation Rate (Aug)
- U.K. Unemployment Rate (July)
Wednesday, September 14
- PPI Inflation Rate (Aug)
- PPI Core Inflation Rate (Aug)
- U.K. Inflation Rate (Aug)
- Eurozone Industrial Production (July)
Thursday, September 15
- Retail Sales (Aug)
- Philadelphia Fed Manufacturing Index (Sep)
- NY Empire State Manufacturing Index (Sep)
- Import and Export Prices (Aug)
- Industrial Production (Aug)
- Business Inventories (Jul)
- China Industrial Production (Aug)
- China House Price Index (Aug)
Friday, September 16
- Manchester United Ltd. (MANU) reports earnings
- Michigan Consumer Sentiment Index - Preliminary Reading (Sep)
- Eurozone Inflation Rate - Final Reading (Aug)