This week’s earnings reports are concentrated on Tuesday and Thursday.
all publication results Tuesday, while
Alibaba Holding Group
also hosts virtual events for investors from Monday to Wednesday, while
shareholders will vote on its sale proposal to
Investors will also follow the first presidential debate between President Donald Trump and former Vice President Joe Biden on Tuesday. They will listen to any additional color on the political plans of the candidates and look for any impact on the polls after the debate.
Alibaba Group Holding is hosting a virtual investor day that continues until Wednesday. Speakers will include CEO Daniel Zhang.
The Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook survey for September. The consensus estimate is for a reading of 8.3, roughly equal to the August figure.
and Micron Technology report the benefits.
The first of three presidential debates between President Donald Trump and former Vice President Joe Biden are taking place at Case Western Reserve University in Cleveland.
Le Conference Board publishes its consumer confidence index for September. Economists are forecasting a reading of 90, higher than August’s 84.8. The postpandemic high of the index was 91.7 in July.
Versions ADP its national employment report for September. The economy is expected to create 625,000 private sector jobs, up from 428,000 in August. Since the elimination of nearly 20 million jobs in March and April, 43% of that total, or 8.5 million jobs, have been recovered, according to ADP.
The Bureau of Economic The analysis reports its final estimate of the second quarter gross domestic product. The economy is expected to contract at an annual rate of 31.7%, which would remain unchanged from the second BEA estimate released in late August.
National association of Realtors releases its Pending Home Sales Index for August. The consensus estimate is for an increase of 2.3%, a deceleration from 5.9% in July. Home sales are in the midst of a V-shaped recovery, with sellers seeing their homes under contract in record time, according to Lawrence Yun, chief economist for the NAR.
The Institute of Supply Management publishes its Chicago Purchasing Managers’ Index for September. Economists are forecasting a reading of 52.1, slightly higher than August’s 51.2.
Constellation Brands and PepsiCo publish their quarterly results.
BEA reports personal income and expenses for August. Income is expected to decline 2.8% month over month, while consumption is expected to increase 0.9%. This compares to gains of 0.4% and 1.9%, respectively, in July.
The Labor Office Statistics releases the jobs report for September. Non-farm payroll employment is expected to increase by 932,500, after a gain of 1.37 million in August. The overall unemployment rate is expected to decline to 8.2% from 8.4%.
Noble Energy is holding a special meeting of shareholders to seek approval of its proposed merger with Chevron, which would acquire all of the outstanding shares of Noble. The all-stock transaction, with an enterprise value of $ 13 billion, was first announced in late July.
Write to Nicholas Jasinski at [email protected]