Earnings season kickoff and September inflation data in focus this week

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Earnings season kickoff and September inflation data in focus this week

This week, market participants are bracing for the release of key inflation data as well as the start of third-quarter earnings season.

The unofficial start of the earnings season is set for Friday, as major banks such as Citigroup (NYSE: C ), JPMorgan Chase (NYSE: JPM ), Wells Fargo (NYSE: WFC ), BlackRock (NYSE: BLK ), UnitedHealth Group (NYSE: UNH ), and PNC Financial Services Group (NYSE: PNC ) are scheduled to announce their results before market opening. A slew of other companies including PepsiCo (NASDAQ: PEP ), Delta Air Lines (NYSE: DAL ), Domino's Pizza (NYSE: DPZ ), Fastenal (NASDAQ: FAST ), and Walgreens Boots Alliance (NASDAQ: WBA ) are also poised to disclose their results throughout the week.

The corporate calendar also includes investor meetings by Adobe (NASDAQ: ADBE ) and HP Inc (NYSE: HPQ ). slated for Tuesday. Hormel Foods (NYSE: HRL ) has its 2023 investor day planned for Thursday.

On the economic front, the Bureau of Labor Statistics' (BLS) consumer price index for September is projected to rise by 0.3% in both headline and core CPI, compared to post-pandemic peak figures from September 2022. The Federal Open Market Committee is set to release minutes from its mid-September monetary-policy meeting on Wednesday. On the same day, the BLS will also release the producer price index with core PPI expected to rise by 2.3%.

Other key data to be released include the National Federation of Independent Business's Small Business Optimism Index for September, which is expected to register a reading of 91.4. The University of Michigan's Consumer Sentiment index for October is predicted to come in at a reading of 67.

Year-ahead inflation expectations continue to be a significant focus for investors as they scrutinize these data points and corporate earnings results in the week ahead.

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