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After recent sell-offs in tech and AI stocks, this week’s focus will shift to a range of political and economic factors that could influence the stock market’s trajectory.
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With less than two months remaining until the U.S. presidential election, a significant event will take place on Wednesday, September 10. ABC News will host a presidential debate between Vice President Kamala Harris and former President Donald Trump at 9 p.m. ET. The debate will be broadcast on the ABC network and the ABC News Live 24/7 streaming network, as well as on Disney+ and Hulu. This debate will be held at the National Constitution Center in Philadelphia without an audience, allowing the candidates to focus entirely on the issues.
In addition to the political developments, this week also brings a series of important earnings reports and economic data releases. These reports will be closely monitored by investors looking for clues about the market’s direction and the broader economy.
Let’s take a closer look at what’s on the horizon:
Important earnings to keep an eye on
Oracle Corporation is scheduled to release its quarterly earnings report on Monday after the market closes. Investors and analysts will be closely watching the tech giant’s performance, especially as it continues to expand its cloud services and AI offerings.
On Tuesday, GameStop Corporation, the well-known meme stock that has captured the attention of retail investors, will reveal its financial results after the closing bell. This report will be particularly scrutinized as the company navigates through its ongoing transformation efforts and challenges in the gaming retail sector.
As the week progresses, Adobe Inc. will release its earnings on Thursday, also after the market closes. With Adobe’s leadership in digital media and marketing software, market participants will be keen to see how its innovative product lines have driven growth in a competitive landscape.
Earlier on Thursday, Kroger will disclose its financial performance before the market opens. As one of the largest grocery chains in the U.S., Kroger’s results will provide insight into consumer spending trends and the impact of inflation on the retail sector.
Inflation data and more economic indicators to watch
The week begins with the release of wholesale inventories and the consumer credit report on Monday, offering early insights into business stockpiles and consumer borrowing trends.
On Wednesday, the highly anticipated Consumer Price Index (CPI) data will be unveiled. This key inflation gauge will shed light on how prices for goods and services are trending, helping to shape expectations around the Federal Reserve’s monetary policy.
Thursday brings a series of critical economic reports. First, the Producer Price Index (PPI) will be released, providing a deeper look into inflation at the wholesale level and offering clues on future consumer prices. The initial jobless claims data, also due on Thursday, will be closely monitored as it may signal shifts in the labor market. This information could influence the Fed’s decision on whether or not to adjust interest rates in their September meeting.
Finally, on Friday, the Import Price Index for August and the preliminary Consumer Sentiment Report for September will be released. These reports will provide a snapshot of inflationary pressures from abroad and consumer confidence, respectively, offering further insights into the economic outlook for the coming months.
