The Week Ahead on Wall Street
The US financial markets were closed Monday in observance of Labor Day.
Historically, September has been the worst month of the year for large-cap stocks. The S&P 500 index has only realized a September gain during 43% of all years since the start of Y 1946. The average September monthly loss has been 0.66%. To put these numbers into perspective, on an average calendar month, the large-cap index has gained 0.66% and risen 59% of the time.
Earnings season has wound down
Only 2 members of the S&P 500 are scheduled to report earnings to Wall Street this week: Hewlett Packard Enterprise Co. (NYSE:HPE) on Wednesday and Kroger Co. (NYSE:KR) Friday.
This week’s 1st financial report to Wall Street will be the Institute for Supply Management’s (ISM) August non-manufacturing index, released Tuesday.
Wednesday will feature the US Labor Department’s July Job Opening and Labor Turnover Survey (JOLTS) and the Federal Reserve’s periodic Beige Book.
This week just 2 US Federal Reserve officials will make public appearances: San Francisco President John Williams Tuesday and Boston President Eric Rosengren Friday.
Have a terrific week