Wall Street week ahead: Investors eye inflation data, Fed minutes, Q3 earnings

Next week on Wall Street will see several economic data including the important consumer prices inflation and Producer Price Index for last month.

Investors will also have the minutes of FOMC (Federal Open Market Committee) from the September policy meeting.

The economic data in the week ahead could give clues as to what to expect at the US Federal Reserve’s next meeting to be held in November.

The market participants will also keep a tab on Middle East tensions and third quarter earnings that will start rolling next week.

The week will also see Artificial Intelligence events for Nvidia, AMD, and Hewlett Packard Enterprise.

Economic events

On October 7 (Monday), a report on consumer credit for September will be released.

On October 8 (Tuesday), data on NFIB optimism index for September and US trade deficit for August will be declared.

On October 9 (Wednesday), Minutes of Federal Reserve’s September FOMC meeting will be released.

On October 10 (Thursday), data on Consumer Price Index (CPI) for September will be issued.

On October 11 (Friday), data on Producer Price Index (PPI) for September and consumer sentiment (preliminary) for October will be released.

Earnings

Following companies are due to report third quarter earnings in the week ahead — Duckhorn Portfolio, PepsiCo, Accolade, AZZ, Applied Digital, Helen of Troy, Delta Air Lines, Domino's Pizza, JPMorgan Chase, Wells Fargo, BlackRock, Bank of New York Mellon, and Fastenal.

US markets last week

US stocks rallied on Friday after a strong report on the jobs market raised optimism about the economy.

The Dow Jones Industrial Average rose 341.16 points, or 0.81 per cent, to 42,352.75, the S&P 500 gained 51.13 points, or 0.90 per cent, to 5,751.07 and the Nasdaq Composite added 219.37 points, or 1.22 per cent, to 18,137.85.

For the week, the Dow was up 0.1 per cent, while the S&P 500 was up 0.2 per cent and the Nasdaq was up 0.1 per cent.

The 10-year yield jumped to 3.97 per cent from 3.85 per cent. The yield on the 2-year Treasury rose to 3.93 per cent from 3.71 per cent.