The Week Ahead: Payrolls Highlight a Week Heavy on Fed-Speak

Friday's payrolls report is the highlight of a week featuring speeches from multiple Fed officials

by Mark Fightmaster

Published on Sep 24, 2015 at 5:09 PM

Earnings are light this week, but high-profile economic data -- and speeches from several Federal Reserve officials -- will fill the void. Jobs data comes into focus, with the September nonfarm payrolls report due out on Friday, and traders will also keep close watch on Capitol Hill's latest spending standoff.

As noted, there are quite a few speeches from central bankers, including Fed Chair Janet Yellen on Wednesday. Investors will listen intently to see if there are any more hints of a rate hike by the end of the year. Earnings will fade into the background, as Micron Technology (MU) and Costco (COST) are the only major names reporting.

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, 9/28

Monday brings an interview of New York Fed President William Dudley by The Wall Street Journal. We'll then hear the personal income and spending data, along with pending home sales and the Dallas Fed's manufacturing index. The afternoon is highlighted by two more speeches, the first from Chicago Fed President Charles Evans in Milwaukee. Later that afternoon, in Los Angeles, San Francisco Fed President John Williams will address the UCLA Anderson Forecast conference. Cal-Maine Foods (CALM), Vail Resorts (MTN), and Synnex (SNX) will all report earnings.

Tuesday, 9/29

On Tuesday, we will be treated to the S&P/Case-Shiller home price index and the Conference Board's latest consumer confidence reading. Barracuda Networks (CUDA), Costco (COST), Diamond Foods (DMND), and Ferrellgas Partners (FGP) are the day's earnings reports of note -- though Tesla Motors (TSLA) will likely grab headlines as it begins delivery on its luxury electric crossover, the Model X.

Wednesday, 9/30

Early Wednesday, all eyes will focus on ADP's private-sector employment report for September. Also due out are the Chicago purchasing managers index (PMI) and our weekly petroleum inventory reports. In addition, investors will be waiting for 2 p.m. Eastern, when Fed Chair Janet Yellen will make the opening remarks to the St. Louis Fed community banking conference. Later in the evening, Fed Governor Lael Brainard will speak at the same conference.

In keeping with the week's payrolls theme, Paychex (PAYX) will step into the earnings confessional, while Actuant (ATU) is also due to report.Traders should note that Wednesday also marks the deadline for Congress to approve the federal budget and avoid another government shutdown, which could impact markets.

Thursday, 10/1

Motor vehicle sales, the Challenger job cut report, weekly jobless claims, Markit's PMI manufacturing index, construction spending, and the ISM manufacturing index are all on tap for Thursday. Plus, San Francisco Fed President John Williams will speak in Salt Lake City. As for earnings, CalAmp (CAMP), McCormick (MKC), Micron Technology (MU), and Progress Software (PRGS) will all report quarterly results.

Friday, 10/2     

The September employment situation report will take center stage Friday morning, as nonfarm payrolls, hourly earnings, and the unemployment rate will be released before the opening bell. Factory orders for August will also hit the Street. There are no earnings of note.

However, Friday is full of speeches, as Boston Fed President Eric Rosengren will open his bank's macroprudential monetary policy conference at 8:30 a.m. ET. Minneapolis Fed President Narayana Kocherlakota, Cleveland Fed President Loretta Mester, and Fed Vice Chair Stanley Fischer are also slated to speak at the Boston Fed conference. Finally, St. Louis Fed President James Bullard will deliver a speech to the Shadow Open Market Committee in New York.


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