New York markets this week are expected to focus on the release of September CPI, PPI and retail sales, speeches by Federal Reserve officials and earnings trends at major banks.
The U.S. equity market this week is expected to seek direction as the September U.S. inflation data, public remarks by Federal Reserve Chair Kevin Warsh and third-quarter earnings announcements from major banks coincide. The market expects headline CPI to rise 0.6% month on month and core CPI to rise 0.2%.
The U.S. Department of Labor will release September CPI on the 14th, followed by PPI and retail sales on the 15th. Headline PPI is expected to rise 0.5% and core PPI 0.3%, while retail sales are expected to increase 0.3% month on month.
Chair Warsh will hold a conversation with the IMF managing director at the IMF–World Bank Annual Meetings, while speeches by Federal Reserve members will follow one after another. Attention is focused on signals indicating the direction of monetary policy ahead of the FOMC meeting on the 27th–28th.
Third-quarter earnings from major financial institutions including Citi, Goldman Sachs, Wells Fargo and JPMorgan Chase will be released this week, with EPS at S&P 500 companies expected to rise 29.6% year on year.
Chinese economic indicators and the crude oil market are also expected to drive market volatility, with attention on the release of China’s September trade and inflation data and movements in oil prices. Gold prices remain elevated, and next week’s CPI results could determine the next market direction.