Wall Street week ahead: Investors eye inflation data, Fed minutes

The PPI data for September will be released on October 11 and the CPI data on October 12.

October 11 will also witness the release of the minutes of the US Federal Reserve’s FOMC (federal open market committee) meeting held in September.

Earnings

Earnings reports of following companies are due in the week ahead –PepsiCo, Neogen, AZZ, Fastenal, Delta Air Lines, Walgreens Boots Alliance, Domino’s Pizza, UnitedHealth, JPMorgan Chase, Wells Fargo, BlackRock, Progressive, and Citigroup.

Corporate events

On October 10, Adobe will hold an investor meeting.

Maxim Group’s Virtual Tech Conference, Citi’s Global Resources Conference, the Dawson James Annual Investment Conference, and Roth’s Healthcare Opportunities Conference are also lined up in the week ahead.

On Friday, the US stock indices rallied after a strong report on the job market.

The Dow Jones Industrial Average rose 288.01 points, or 0.87%, at 33,407.58. The S&P 500 gained 50.31 points, or 1.18%, at 4,308.5. The Nasdaq Composite added 211.51 points, or 1.6%, at 13,431.34.

For the last week, the S&P 500 was up 0.5%, the Dow down 0.3% and the Nasdaq rose 1.6%.

The yield on the 10-year treasury soared at 4.78%, highest level since 2007. The yield on the 2-year treasury rose at 5.20%.

The US dollar rose at 149.35 Japanese yen from 148.40. The euro rose at $1.0593 from $1.0551.

The US crude oil benchmark for November delivery rose 48 cents at $82.79 a barrel on Friday. Brent crude for December delivery added 51 cents at $84.58 a barrel.

Gold for December delivery gained $13.40 at $1,845.20 an ounce. Silver for December delivery rose 70 cents at $21.72 an ounce.

In overseas stock markets, indexes were higher across much of Europe and Asia. 

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Updated: 08 Oct 2023, 09:56 PM IST