The Week Ahead: Will August Payrolls Help 'The Case Against Further Delay'?

Expect more rate-hike chatter this week, as traders weigh jobs data, the Beige Book, and a handful of Fed speeches

by Mark Fightmaster

Published on Aug 28, 2015 at 8:05 AM

Earnings season slows down during the first week of September, but there should be no shortage of economic news to move the market. A wave of manufacturing data hits Wall Street Monday and Tuesday, followed by the release of the Federal Reserve's Beige Book on Wednesday. Meanwhile, with rate-hike speculation still rampant, the highlight of the week will be Friday's August nonfarm payrolls report -- a news release set to coincide with a much buzzed-about speech from Richmond Fed President Jeffrey Lacker.

As noted, earnings are slowing, so major names are scarce. That said, we'll hear the latest quarterly results from the likes of Ambarella Inc (NASDAQ:AMBA), Dollar Tree (DLTR), and Vera Bradley (VRA).

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

Monday 8/31

The economic calendar kicks off Monday with the release of the Chicago purchasing managers index (PMI) and the Dallas Fed's manufacturing index. Adept Tech (ADEP), Bazaarvoice (BV), Dangdang (DANG), and Matrix Service (MTRX) are expected to report earnings.

Tuesday 9/1

Tuesday will bring the release of the Institute for Supply Management's (ISM) manufacturing index, construction spending, monthly auto and truck sales, and Markit's PMI manufacturing index. Additionally, Boston Fed President Eric Rosengren will deliver a speech on the economic outlook in New York. Ambarella (AMBA), AeroVironment (AVAV), Dollar Tree (DLTR), Bob Evans (BOBE), H&R Block (HRB), and Shoe Carnival (SCVL) are slated to announce earnings.

Wednesday 9/2

The news picks up on Wednesday, with the ADP private-sector jobs report, productivity and labor costs, factory orders, and weekly crude inventories sharing the spotlight. During the second half of the session, the Federal Reserve will release its Beige Book report on economic conditions.  

Among the names stepping into the earnings confessional on Wednesday are Five Below (FIVE), G-III Apparel (GIII), Hanger (HGR), Isle of Capri (ISLE), Navistar (NAV), Oxford Industries (OXM), SeaChange (SEAC), and Vera Bradley (VRA). In other equity news, Netflix, Inc. (NASDAQ:NFLX) is due to launch its streaming service in Japan.

Thursday 9/3

Thursday's docket features weekly jobless claims, the ISM services index, and the U.S. trade balance, plus a speech from Minneapolis Fed President Narayana Kocherlakota in Missoula, Montana. The day's earnings releases include Campbell Soup (CPB), Ciena (CIEN), Joy Global (JOY), Lands' End (LE), Medtronic (MDT), UTI Worldwide (UTIW), and VeriFone (PAY).

Friday 9/4

The week wraps up with the Labor Department's monthly report on nonfarm payrolls and the unemployment rate. At roughly the same time, Richmond Fed President Jeffrey Lacker is expected to deliver some hawkish remarks -- based on his speech's title, "The Case Against Further Delay" -- to the Retail Merchants Association. The earnings calendar is bare.

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