This week will be a holiday-shortened trading week, with US equity markets closed for Labor Day on Monday. With earnings for most S&P 500 companies off track, it’s expected to be relatively quiet.
Market watchers can expect PMI surveys from S&P Global and the Institute for Supply Management (ISM), the Fed’s latest beige book and inflation from China. Gamestop, American Eagle Outfitters and supermarket chain Kroger also release earnings.
Key receivers
- This week will be a holiday-shortened trading week, with US equity markets closed for Labor Day.
- Market watchers can expect PMI surveys from S&P Global and the Institute for Supply Management (ISM), the Fed’s latest beige book and inflation from China.
- Gamestop, American Eagle Outfitters and supermarket chain Kroger also release earnings.
Week of September 4:
Monday, September 4
- US markets are closed for the Labor Day holiday.
- Trip.com (TCOM) reports earnings
- China Caixin Services PMI (August)
Tuesday, September 5
- Zscaler Inc. (ZS), GitLab Inc. (GTLB), HealthEquity Inc. (HQY), and Asana Inc. (ASAN) reported earnings.
- IBD/TIPP Economic Optimism (September)
- Factory Orders (July)
Wednesday, September 6
- UiPath Inc. (PATH), Core & Main Inc. (CNM), Gamestop Corp. (GME), Sprinkler Inc. ( CXM ) and American Eagle Outfitters ( AEO ) reported earnings.
- JPMorgan Global Composite PMI (August)
- S&P Global US Services PMI (August)
- ISM Services PMI (August)
- US Trade Balance (July)
- China’s Trade Balance (August)
- Fed Beige book
Thursday, September 7
- The Toro Company (TTC), DocuSign Inc. (DOCU), Guidewire Software Inc. (GWRE), Smartsheet Inc. (SMAR), Braze Inc. (BRZE), and John Wiley & Sons Inc. (WLY) reported earnings.
Friday, September 8
- Kroger Company (KR) reports earnings
- Mannheim Consultancy Used Vehicle Price Index (August)
- Bulk Goods (July)
- Japan’s Gross Domestic Product (GDP) – Final Reading (Q2 2023)
Saturday, September 9
- China Consumer Price Index (CPI) (August)
Federal Reserve Book
On Wednesday, the Federal Reserve will release its latest Beige Book, an eight-times-a-year overview of the U.S. economy that reflects economic conditions across all 12 Federal Reserve districts.
The latest issue could reveal an economy that remains strong despite headwinds. Consumer spending, which accounts for more than two-thirds of U.S. GDP, has risen despite the Fed’s rate hikes and high inflation, while unemployment is at a decade-low.
Prices in China
Next Saturday, China will release inflation data for August. This could be a critical release as the world’s second-largest economy slipped into inflation last month, with consumer prices falling 0.3% from a year earlier. In August, it was estimated to have increased to 0.1% year-on-year. China’s economy is shrinking due to mounting debt, falling exports, property damage and youth unemployment.
Inflation is often held up during economic downturns as households postpone purchases in anticipation of lower prices in the future. Low costs directly affect businesses and their profits, forcing firms to lay off workers, which further depresses household spending. This leads to economic collapse that is difficult for governments and central banks to address.
