Jobs Data, Fed Speakers Galore as Fourth Quarter Kicks Off

Pepsi and Constellation Brands will headline a quiet earnings week

Managing Editor
Sep 27, 2018 at 3:40 PM
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The fourth quarter of 2018 will kick off with a heavy dose of Fed, carrying over from this week's meeting and subsequent rate hike. There will be Fed speakers every day next week, but the highlight will be Fed Chair Jerome Powell's appearance Tuesday afternoon. From that, traders will hope to garner clues about the pace of future rate hikes. While the earnings front is mostly quiet, there will still be the highly anticipated payrolls report to digest. 

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.

The week, month, and fourth quarter begin on Monday, Oct. 1, with speeches from Atlanta Fed President Raphael Bostic and Minneapolis Fed President Neel Kashkari. Boston Fed President Eric Rosengren will speak in the afternoon. On the data front, there will be the Markit purchasing managers manufacturing index (PMI), the Institute for Supply Management (ISM) manufacturing index, and construction spending data. Stitch Fix (SFIX) and Cal-Maine Foods (CALM) will report earnings.

Tuesday, Oct. 2, will start with testimony from Fed Vice Chair Randal Quarles, speaking before the Senate Banking Committee. Powell will take the mic at 12:00 p.m. ET, at the National Association for Business Economics annual meeting in Boston.  Motor vehicle sales numbers are also due out, while PepsiCo (PEP) and Paychex (PAYX) are expected to release earnings.

Chicago Fed President Charles Evans kicks things off bright and early Wednesday, Oct. 3, with a speech at 6:30 a.m. ET. There will also be remarks from Richmond Fed President Tom Barkin, Philadelphia Fed President Patrick Harker, and Cleveland Fed President Loretta Mester throughout the day.

As far as economic data, ADP's private-sector employment report is a notable header. The weekly crude inventories report, MBA mortgage index, and the ISM non-manufacturing index are also slated for release. Acuity Brands (AYI), Lennar (LEN), and Pier 1 Imports (PIR) will step into the earnings confessional.

Thursday, Oct. 4, features another speech from Quarles in the morning. Weekly jobless claims, factory orders, and the Fed's balance sheet are due for release. For earnings, Constellation Brands (STZ) and Costco Wholesale (COST) are expected to report.

Bostic takes the mic one last time on Friday, Oct. 5, while traders will digest the monthly jobs data. International trade data, the consumer credit report, and Baker-Hughes rig count are also expected. There are no notable earnings to report.


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