US stock and bond markets are closed Monday for Labor Day. Investors return from a long weekend to a busy week of corporate earnings reports and analyst meetings and the latest U.S. economic data.
The economic-data highlight of the week will be the Supply Management Services Purchasing Managers’ Index for Wednesday in August. That roughly comes in line with July’s reading and is expected to remain in expansion territory. Also on Wednesday, the Federal Reserve will release its Big Book report on current economic conditions across the US.
Other data out this week include the Labor Department’s initial jobless claims on Thursday and the federal household net worth on Friday.
Monday 9/4
Equity and fixed income markets They are closed for Labor Day.
Tuesday 9/5
Zscaler and Gitlab Released earnings.
Wednesday 9/6
Danaher Danaher’s Environmental and Applied Solutions division will host an Investor Day to discuss Veralto. Danaher in 2011. It expects to complete the spinoff on Sept. 30, with shareholders receiving one Veralto share for every three shares they own in Danaher.
Intuit It held an Innovation Day to discuss how generative artificial intelligence is being used on the platform and its products.
Bank of Canada Monetary policy decision announced. The central bank is widely expected to keep its key interest rate unchanged at 5%. The BOC has raised interest rates by a total of 4.75 percent since March last year.
Supply Management Institute It releases its Services Purchasing Managers’ Index for August. The consensus estimate is for a reading of 52.4, even with July data. The services
PMI
The service sector has fared better than the manufacturing sector, with only one reading below the 50 spread level in the past three years.
Federal Reserve This year he released a beige book for the sixth time out of eight. The report collected factual data on current economic conditions from 12 regional Federal Reserve Banks.
Thursday 9/7
Connector
Reports sales data for August.
The first sun An analyst will host the day.
Department of labor It reported initial jobless claims for the week ending September 2. Claims averaged 237,500 in August and were up the most over the past year. A cold labor market steps from red-hot levels, as evidenced by the JOLTS data and employment report this week, adding to bets that the Federal Open Market Committee will not raise federal funds rates at its September meeting and a hike is possible. For this cycle.
Friday 9/8
Hooks held a conference call to discuss second quarter 2023 results.
Federal Reserve It releases the financial accounts of the United States for the second quarter, which includes aggregate household net worth statistics. Total household net worth was $148.8 trillion at the end of the first quarter, down from $152.5 trillion in the first quarter of 2022.
– Dan Lam contributed to this article
Write to Nicholas Jasinski at [email protected]
