The Week Ahead on Wall Street
$AYI, $DRI, $STZ, $GPN, $MON, $YUM
Q-4 (October) started Saturday, the month infamous for the Y 1929 and the & 1987 crashes.
October is also notable for this Key reason: the performance of Standard & Poor’s 500-stock index from 31 July to 31 October has a way of predicting the Winner of the Presidential election.
Interestingly enough, stocks have experienced worse average monthly returns in May, February, August, June and September since Y 1950, according to the Stock Trader’s Almanac.
The Jewish High Holy Days started Sunday evening with Rosh Hashanah.
L’shanah tovah to those readers who observing the High Holidays.
7 S&P 500 companies will report earnings to Wall Street: Darden Restaurants (NYSE:DRI) and Micron Technology (NYSE:MU) Tuesday; and Acuity Brands (NYSE:AYI), Constellation Brands (NYSE:STZ), Global Payments (NYSE:GPN), Monsanto (NYSE:MON) and Yum! Brands (NSE:YUM) Wednesday.
The week’s 1st economic reports of note will be the September purchasing managers’ manufacturing index (PMI), the September ISM manufacturing survey and August construction spending, which will be released Monday.
Wednesday will feature the September ADP Employment Report, August international trade data, August factory orders and the September ISM non-manufacturing survey.
September jobs data, including the change in NFPs (non-farm payrolls) and the unemployment rate will be released Friday.
6 US Fed officials will make public jawboning appearances this week, as follows:
- Chicago President Charles Evans Tuesday
- Richmond President Jeffrey Lacker Tuesday
- Wednesday Fed Vice Chairman Stanley Fischer
- Cleveland President Loretta Mester Friday
- Kansas City President Esther George Friday and
- Fed Governor Lael Brainard Friday
Have a terrific week