The Week Ahead on Wall Street
On the Earnings Front
Announcing earnings this week to Wall Street are S&P 500 members Adobe Systems (ADBE), FedEx Corp. (NYSE:FDX) and Lennar Corp. (NYSE:LEN) Tuesday; Bed Bath & Beyond (BBBY), CarMax (KMX), General Mills (NYSE:GIS) and Red Hat (RHT) on Wednesday; and AutoZone (NYSE:AZO) Thursday.
On the Fed Front
The Federal Open Market Committee (FOMC) will hold a 2-day meeting starting Tuesday 20 September. The meeting announcement and updated committee member forecasts will be released to Wall Street at 2:00p EDT Wednesday.
US Fed Chairwoman Janet Yellen will hold a Quarterly press conference at 2:30p EDT.
The CME’s FedWatch Tool shows an 88% chance of rates staying unchanged. The odds for no change occurring at the December meeting are currently at 53.8%, of course subject to change.
The National Association of Home Builders’ (NAHB) September housing market index will be released Monday. Tuesday features August housing starts. August existing home sales will be released Thursday. Friday features the September purchasing managers’ manufacturing index (PMI) flash.
3 US Fed officials will speak publicly on a panel Friday, they are Philadelphia President Patrick Harker, Atlanta President Dennis Lockhart and Cleveland President Loretta Mester.
The US Treasury action
The US Treasury Department will auction $11-B of 10-year Treasury inflation-indexed securities (TIPS) Thursday.
Have a terrific week.
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