The Fed's highly anticipated September meeting happens to fall on the historically worst S&P week of the year
Central banks will dominate headlines next week, with the Fed's highly anticipated September meeting on tap. The Federal Open Market Committee (FOMC) affair has been the talk of the town for months, as Wall Street speculates on the first possible rate hike since December. In addition, the Bank of Japan (BoJ) will convene to discuss policy, with some traders
bracing for a cut to already negative interest rates. What's more, next week just so happens to be the
historically worst week of the year for the S&P 500 Index (SPX).
Outside of macro events, housing will be in the spotlight. Along with a slew of housing data, homebuilders
Lennar Corporation (NYSE:LEN) and KB Home (NYSE:KBH) are on the short list of earnings reporters.
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, September 19
The National Association of Home Builders (NAHB) housing market index is the lone economic report on the docket. Ascena Retail Group (ASNA) will report earnings.
Tuesday, September 20
The housing theme continues Tuesday, with August housing starts and building permits on tap. In addition, the FOMC kicks off its two-day policy meeting. As for earnings,
FedEx (FDX), Adobe Systems (ADBE),
Carnival (CCL), KBH, and LEN will report.
Wednesday, September 21
The Fed's highly anticipated policy announcement will take center stage at 2 p.m. ET, with Fed Chair Janet Yellen's press conference at 2:30. The BoJ meeting will also conclude with a policy statement. In addition, the regularly scheduled crude inventories report will hit the Street.
Bed Bath & Beyond (BBBY), CarMax (KMX), General Mills (GIS), and
Red Hat (RHT) earnings are slated for release.
Thursday, September 22
Data on existing home sales and weekly jobless claims will be released, as well as the Fed's balance sheet and the index of leading economic indicators. AutoZone (AZO) and Rite Aid (RAD) will report earnings.
Friday, September 23
The Markit purchasing managers manufacturing index (PMI) is on tap, and the Fed will remain in the spotlight with a trio of regional Fed presidents addressing a panel in Philadelphia:
Atlanta's Dennis Lockhart, Cleveland's Loretta Mester, and Philadelphia's Patrick Harker. On the earnings docket is Finish Line (FINL).
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