U.S. stocks are expected to see a boost on Monday as investors eagerly await the release of fresh U.S. labor data. This data has the potential to influence the upcoming Federal Reserve’s Federal Open Market Committee meeting and interest-rate decision, scheduled for September 19-20.
Market Futures and Oil Prices
At 6:43 p.m. Eastern time on Sunday, futures for the Dow Jones Industrial Average showed a gain of 49 points, equivalent to a 0.1% increase. Similarly, the S&P 500 futures were up by 0.2% and Nasdaq Composite futures gained 0.2%.
On the energy front, crude oil futures climbed by 0.5% to reach $80.25 a barrel. The West Texas Intermediate, the U.S. standard, showed this increase. Meanwhile, Brent crude, the international standard, gained 0.4% and settled at $84.31 a barrel.
Noteworthy Earnings This Week
This week will see a number of notable companies releasing their earnings reports. On Monday, BYD will be in focus, while Tuesday will feature reports from Big Lots, Best Buy, Box, Chico’s FAS, Hewlett Packard Enterprise, HP, J.M. Smucker, NIO, and PVH.
Wednesday’s earnings reports will include Brown-Forman, Chewy, Five Below, Okta, Pure Storage, and Salesforce. Thursday will feature reports from 1-800-Flowers.com, Broadcom, Campbell Soup, Dollar General, Hormel Foods, J.Jill, Lands’ End, Ollie’s Bargain Outlet, and Signet Jewelers.
Economic Events to Watch
Apart from earnings reports, there are several economic events on the calendar this week. On Monday, the Federal Reserve Bank of Dallas is set to release its Texas Manufacturing Outlook Survey results for August.
Tuesday will see the Bureau of Labor Statistics publishing the results of its Job Openings and Labor Turnover Survey for August. Additionally, S&P CoreLogic will release the Case-Shiller National Home Price Index for June, and the Conference Board will unveil its Consumer Confidence Index for August.
On Wednesday, ADP will release its National Employment Report on non-farm, private-sector jobs for August. The Bureau of Economic Analysis will also release its next estimate of gross domestic product growth for the second quarter.
Thursday’s agenda includes personal income and expenditures data from the Bureau of Economic Analysis, which is considered the Fed’s preferred measure of inflation.
Friday will mark the release of the August jobs report from the Bureau of Labor Statistics. This report will include nonfarm payrolls, average hourly earnings, and the unemployment rate. Additionally, the Census Bureau will report construction spending data for July.