US Markets Prepare for Inflation Data and Key Corporate Earnings Reports
Investors face a crucial week driven by major economic indicators and corporate quarterly results. The primary economic focus centers on Wednesday's September Consumer Price Index report, where headline inflation is expected to increase 3.6% year over year and core inflation is projected to rise 2.4%.
Corporate results will highlight corporate financial health and consumer strength. Goldman Sachs Group Inc (GS) is expected to post third-quarter earnings of $13.02 per share on $16.74 billion in revenue, with equities trading strength outperforming fixed income. Wells Fargo & Company (WFC) is projected to earn $1.85 per share on revenue of $22.32 billion, while Bank of New York Mellon Corp (BNY) is expected to report $2.27 per share on $5.55 billion in revenue. Healthcare leader Johnson & Johnson (JNJ) is forecast to earn $2.53 per share on revenue of $25.25 billion. In recent market action, Wells Fargo stock gained 1.85% to $83.55, Johnson & Johnson climbed 1.93% to $261.40, and Bank of New York Mellon slipped 0.63% to $142.70.
Beyond inflation and earnings, traders will track existing home sales on Tuesday, followed by Thursday's Producer Price Index and retail sales numbers. The economic schedule concludes Friday with industrial production and capacity utilization reports, offering further clarity on broader economic conditions.
Key points
- The September Consumer Price Index is expected to show headline inflation rising 3.6% year over year and core inflation up 2.4%.
- Wells Fargo & Company (WFC) stock rose 1.85% to $83.55 ahead of expected third-quarter earnings of $1.85 per share on $22.32 billion in revenue.
- Johnson & Johnson (JNJ) gained 1.93% to $261.40 while Bank of New York Mellon Corp (BNY) fell 0.63% to $142.70 before their quarterly earnings releases.
- Goldman Sachs Group Inc (GS) is projected to report third-quarter earnings per share of $13.02 on revenue of $16.74 billion.
- Additional economic reports due this week include retail sales, home sales, Producer Price Index, and industrial production data.
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How we writeDisclaimerQuestions and answers
What is expected for the September CPI inflation report?
Economists expect the September headline Consumer Price Index to rise 3.6% year over year, with core CPI projected to increase by 2.4%.
Which major companies are reporting earnings this week?
Companies reporting quarterly results include Goldman Sachs, Wells Fargo, Bank of New York Mellon, and Johnson & Johnson.
What economic data will be released besides CPI?
Key economic releases scheduled for the week include existing home sales on Tuesday, the Producer Price Index and retail sales on Thursday, and industrial production on Friday.