U.S. stock and bond markets will be closed on Monday for Labor Day. Investors will return from the long weekend to a busy week of corporate earnings reports and analyst meetings, plus the latest U.S. economic data.
will report on Tuesday, followed by
on Friday. Companies hosting investor days this week will include
on Wednesday and
The economic-data highlight of the week will be the Institute for Supply Management’s Services Purchasing Managers’ Index for August on Wednesday. That’s expected to come in roughly even with July’s reading and remain in expansionary territory. Also on Wednesday, the Federal Reserve will release its beige book report on current economic conditions across the U.S.
Other data out this week will include the Department of Labor’s initial jobless claims on Thursday and the Fed’s household net worth statistics on Friday.
Equity and fixed-income markets are closed in observance of Labor Day.
Zscaler and Gitlab release earnings.
Danaher hosts an investor day to discuss Veralto, the spinoff of Danaher’s environmental and applied solutions segment. Danaher expects to complete the spinoff on Sept. 30, with stockholders receiving one share of Veralto for every three shares of Danaher owned.
Intuit holds an Innovation Day to discuss how it’s harnessing generative artificial intelligence across its platform and products.
The Bank of Canada announces its monetary-policy decision. The central bank is widely expected to keep its key interest rate unchanged at 5%. The BOC has raised interest rates by a total of 4.75 percentage points since March of last year.
The Institute for Supply Management releases its Services Purchasing Managers’ Index for August. Consensus estimate is for a 52.4 reading, roughly even with the July data. The Services
has had only one reading below the expansionary level of 50 over the past three years, as the services sector continues to hold up better than the manufacturing sector.
The Federal Reserve releases the beige book for the sixth of eight times this year. The report gathers anecdotal information on current economic conditions from the 12 regional Federal Reserve Banks.
reports August sales data.
First Solar hosts an analyst day.
The Department of Labor reports initial jobless claims for the week ending on September 2. Claims averaged 237,500 in August and have risen for much of the past year. A cooling labor market from red-hot levels, as evidenced by this past week’s JOLTS data and employment report, have fueled bets that the Federal Open Market Committee won’t raise the federal-funds rate at its September meeting, and might be done hiking for this cycle.
Kroger holds a conference call to discuss second-quarter 2023 results.
The Federal Reserve releases the Financial Accounts of the United States for the second quarter, which includes total household net worth statistics. Total household net worth was $148.8 trillion at the end of the first quarter, less than the peak of $152.5 trillion reached in the first quarter of 2022.
—Dan Lam contributed to this article
Write to Nicholas Jasinski at firstname.lastname@example.org