A bevy of earnings reports, economic-activity data, and the Federal Reserve's preferred inflation measure will be this week's highlights.
AutoZone reports on Tuesday, followed by Cintas and Micron Technology on Wednesday. Accenture PLC, CarMax, Costco, and Vail release results on Thursday.
On Monday, S&P Global will release both its Manufacturing and Services Purchasing Managers' Indexes for September. The Conference Board publishes its Consumer Confidence Index for September on Tuesday. And the Census Bureau releases the durable goods report for August on Thursday.
Finally, the Bureau of Economic Analysis will report the personal consumption expenditures price index for August on Friday. Economists' consensus call is for a 2.3% increase from a year earlier. It will also be a busy week of commentary from Fed officials, as several hit the speaker circuit following the central bank's decision to cut interest rates on Sept. 18.
Monday 9/23
AAR reports first-quarter fiscal-2025 results.
S&P Global releases both its Manufacturing and Services Purchasing Managers' Indexes for September. Consensus estimates are for a 48.4 reading for the Manufacturing PMI and a 54.9 print for the Services PMI. This compares with 47.9 and 55.7, respectively, in August.
Tuesday 9/24
AutoZone and KB Home announce earnings.
S&P CoreLogic releases the Case-Shiller U.S. National Home Price Index for July. Home prices rose 5.4% year over year in June. New York, San Diego, and Las Vegas lead the largest 20 metro areas with gains of more than 8%, while Portland saw only a 0.8% rise.
The Conference Board releases its Consumer Confidence Index for September. Expectations are for a 103.5 reading, roughly even with the August figure.
Wednesday 9/25
Cintas, Jefferies Financial Group, and Micron Technology release quarterly results.
The Census Bureau reports new residential sales data for August. The consensus call is for a seasonally adjusted annual rate of 700,000 new single-family homes sold, 39,000 fewer than in July.
Thursday 9/26
Accenture, CarMax, Costco Wholesale, Jabil, and Vail Resorts hold conference calls to discuss earnings.
The Census Bureau releases the durable goods report for August. Economists forecast that new orders for manufactured durable goods will fall 2.9% month over month, following a hefty 9.8% jump in July. Excluding transportation, orders are seen increasing 0.2%, after a 0.2% decline previously.
The Bureau of Economic Analysis releases its third and final estimate of second-quarter gross-domestic-product growth. GDP growth is expected to remain unchanged from the BEA's second estimate of 3%.
Friday 9/27
The BEA releases the personal consumption expenditures price index for August. The consensus call is for a 2.3% year-over-year increase, two-tenths of a percentage point less than in July. The core PCE price index, which excludes food and energy prices, is expected to rise 2.7%, after a 2.6% increase in July. The annual change in the core PCE is near its lowest levels since early 2021, leading Fed Chair Jerome Powell to say this past week that "we have gained greater confidence that inflation is moving sustainably toward 2 percent."
