New data on the U.S. labor market will be this week’s highlights, as well as earnings reports from several retailers and the latest inflation data.
Best Buy,
Hewlett Packard Enterprise,
and
HP
will report on Tuesday, followed by
Salesforce
and
Brown-Forman
on Wednesday. On Thursday,
Broadcom,
Dollar General,
and
Campbell Soup
release results.
The Bureau of Labor Statistics will publish the results of the July Job Openings and Labor Turnover Survey on Tuesday. Economists are forecasting job openings to hold about flat from a month earlier.
On Friday, the BLS is expected to report a gain of 175,000 nonfarm payrolls for August, which would be another slim deceleration from the prior month. The unemployment rate is forecast to hold steady at 3.5%. Average hourly earnings are seen rising 0.4% month over month, matching July’s pace.
Other economic data out this week will include the Conference Board’s Consumer Confidence Survey for August on Tuesday and the Bureau of Economic Analysis’ personal income and expenditures data for July on Thursday.
Economists are expecting to see a 0.3% rise in income and a 0.7% increase in spending in the month. The Federal Reserve’s preferred inflation measure, the core personal-consumption expenditures price index, is forecast to be up 4.2% from a year earlier.
Monday, 8/28
The Federal Reserve Bank of Dallas releases its Texas Manufacturing Outlook Survey for August.
BYD
announces results, according to FactSet.
Tuesday, 8/29
NIO,
Best Buy, Hewlett Packard Enterprise, HP Inc.,
Box,
and
J.M. Smucker
are expected to release quarterly earnings.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey.
S&P CoreLogic will release its Case-Shiller National Home Price Index on Tuesday. Economists polled by FactSet forecast home prices in 20 large U.S. metropolitan areas rose 1.1% in June from May. The consensus call is for a 1.3% cooldown compared to June 2022. Though home prices are expected to be down from last year, they have been heating up in recent months after sliding in late 2022.
The Conference Board releases its Consumer Confidence Index for August.
Wednesday, 8/30
Salesforce,
Okta,
Pure Storage,
Five Below, Chewy, Brown-Forman are expected to announce results.
ADP releases its National Employment Report.
Thursday, 8/31
Broadcom, Dollar General, Campbell Soup, and
Ollie’s Bargain Outlet
report results.
The Institute for Supply Management releases its Chicago Business Barometer for August.
Friday, 9/1
Jobs Friday will be a closely watched affair this week. Economists polled by FactSet estimate the U.S. economy added 172,500 jobs in August, a slowdown from 187,000 in July. The jobs report from the Bureau of Labor Statistics will help inform the Federal Reserve’s interest-rate decision when the Federal Open Market Committee meets from Sept. 19-20.
The Census Bureau reports construction spending for July.
—Connor Smith contributed to this article
Write to Nicholas Jasinski at [email protected]
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