What will drive the markets this week?
Stocks ended last week lower on mixed economic data, including rising prices and concerns about growing inflation which is driving consumer pessimism around the world.
This week investors will closely watch reports from the Federal Reserve Open Markets Committee (FOMC) meeting on interest rates and monetary policy decisions, and parse economic data from across the world. In the corporate calendar Adobe, FedEx, Costco, and Nike report earnings.
Several markets across the world will be closed for various holidays, including Japan, China, and South Korea (Monday), Hong Kong and South Korea (Wednesday), Japan (Thursday), and South Africa (Friday).
Monday, September 20:
- Markets closed in Japan for Respect for the Aged Day, China for the Mid-Autumn Festival, and South Korea for Chuseok.
- Earnings: Lennar Corporation.
Tuesday, September 21:
- Markets closed in China for Mid-Autumn Festival and in South Korea for Chuseok.
- Earnings: Adobe Inc. and FedEx Corp. Report Earnings.
- U.S. Building Permits (August).
- U.S. Housing Starts (August).
- U.S. Federal Open Market Committee (FOMC) Meeting Begins.
- Bank of Japan (BoJ) Interest Rate Decision.
Wednesday, September 22:
- Markets Closed in Hong Kong for the Day after Mid-Autumn Festival and in South Korea for Chuseok.
- U.S. Existing Home Sales (August).
- U.S. Federal Open Market Committee (FOMC) Press Conference and Interest Rate Decision.
- U.S. FOMC Economic Projections.
- Brazilian Central Bank Interest Rate Decision.
Thursday, September 23:
- Markets Closed in Japan for Autumnal Equinox.
- Earnings: Costco Wholesale Corp. and Nike, Inc.
- German Manufacturing and Services Purchasing Managers’ Indexes (PMIs) (September).
- French Services and Manufacturing PMIs (September).
- U.S. Manufacturing and Services PMIs (September).
- Eurozone Manufacturing and Services PMIs (September).
- Bank of England (BoE) Interest Rate and Quantitative Easing Announcements.
- Canadian Core Retail Sales (July).
- Japanese National Core Consumer Price Index (CPI) (August).
Friday, September 24:
- Markets Closed in South Africa for Heritage Day.
- German Ifo Business Climate Index (September).
- U.S. New Home Sales (August).