What will drive the markets this week?
Global equity markets lower last week, with European stocks having their largest drop in two months as September proved its reputation for being the worst month for stocks. The month and the third quarter closed with losses.
While September is gone, some challenges will carry into October. For instance, although Congress narrowly averted a U.S. government shutdown on Thursday, a debt ceiling looms & inflation is spiraling.
Investors will this week parse economic data from around the world, including U.S. jobs reports, service sector PMI readings from India & Europe, and China’s Caixin services PMI.
The ADP’s national employment report will provide a better picture of the US labor and signs of growth which could inform the Fed Reserves plans to begin tapering its monthly bond purchases in November. Similarly, the Service Sector PMI readings will reflect managers’ views on growth, economic outlook & recovery from the pandemic.
On the corporate side, Levi Strauss & Pepsico, among others report earnings. Meanwhile, markets in Mainland China will be closed through Oct. 7 for Golden Week.
Monday, October 4:
- Japan CPI (September).
- Japan Jibun Bank Services PMI (September).
Tuesday, October 5:
- Earnings: Pepsico & Grupo Financiero Galicia.
- U.S. Redbook (October).
- U.S. Services PMI (September).
- EA Services PMI (September).
- EA PPI (August).
- India Services PMI (September).
Wednesday, October 6:
- Earnings: Constellation Brands, Levi Strauss & Co., & RPM International.
- iFit (IFIT) Begins Trading on the Nasdaq.
- ADP National Employment Report (September).
- ECB Non-Monetary Policy Meeting.
- EA Retail Sales (August).
Thursday, October 7:
- Earnings: Helen of Troy, ConAgra & Lamb Weston.
- Life Time Group (LTH) Begins Trading on the NYSE.
- China Caixin Services PMI (September).
- Japan Household Spending (August).
- Japan Leading Economic Index (August).
Friday, October 8:
- U.S. Nonfarm Payrolls Report (September).
- U.S. Wholesale Inventories (August).