U.S. stock and bond markets are closed on Monday for Labor Day. The holiday-shortened week then features several notable company updates and economic data releases.
GameStop and Lululemon Athletica release quarterly results on Wednesday, followed by International Paper on Thursday and Kroger on Friday. Analog Devices—fresh off of its $21 billion acquisition of Maxim Integrated Products—will host an investor day on Wednesday. Moderna, Danaher, and Home Depot managements will also speak with investors on Thursday. Finally, Albemarle hosts an investor day on Friday.
The economic data highlight of the week will be Friday’s August producer price index from the Bureau of Labor Statistics. Economists’ consensus estimate is for a 0.6% monthly rise in the headline index, and a 0.5% increase for the core PPI—which leaves out more volatile food and energy prices. Both the core and headline indexes rose 1% in July. The August consumer price index will be out the following week, on Sept. 14.
On Tuesday, the Federal Reserve will release its latest beige book, full of updates on economic, hiring, and business conditions in each of the dozen central bank districts. The European Central Bank also announces a monetary-policy decision on Thursday, but is widely expected to hold its target interest rate at its current level of negative 0.5%.
Monday 9/6
Stock and fixed-income markets are closed in observance of Labor Day.
Tuesday 9/7
Casey’s General Stores and Coupa Software announce earnings.
Wednesday 9/8
Copart, GameStop, and Lululemon Athletica release quarterly results.
Analog Devices hosts a conference call to discuss its capital-allocation plans and update its outlook for fiscal 2021. The company recently closed its $21 billion acquisition of Maxim Integrated Products.
Global Payments, Johnson Controls International, and ResMed hold virtual investor days.
The Bureau of Labor Statistics releases the Job Openings and Labor Turnover Survey. Consensus estimate is for 10 million job openings on the last business day of July. In June, there were 10.1 million openings, the fourth consecutive monthly record.
The Federal Reserve reports consumer credit data for July. Total outstanding consumer debt increased by $37.7 billion to a record $4.32 trillion in June. For the second quarter, consumer credit rose at a seasonally adjusted annual rate of 8.8%, reflecting pent-up demand.
The Federal Reserve releases the beige book for the sixth of eight times this year. The report summarizes current economic conditions among the 12 Federal Reserve districts.
Thursday 9/9
Home Depot hosts a conference call to discuss its ESG strategy, led by Ron Jarvis, the company’s chief sustainability officer.
Moderna hosts its fifth annual R&D day to discuss vaccines in the company’s pipeline. CEO Stéphane Bancel will be among the presenters.
Danaher holds an investor and analyst meeting, hosted by its CEO Rainer Blair.
International Paper, Synchrony Financial, and Willis Towers Watson hold investor days.
The European Central Bank announces its monetary-policy decision. The ECB is expected to keep its key interest rate unchanged at minus 0.5%.
The Department of Labor reports initial jobless claims for the week ending on Sept. 4. In August, claims averaged 355,000 a week, the lowest since the pandemic’s onset. This will also be the last week that the extra $300 from federal enhanced unemployment benefits is available. They are set to expire by Sept. 6.
Friday 9/10
The BLS reports the producer price index for August. Economists forecast a 0.6% monthly rise along with a 0.5% increase for the core PPI, which excludes volatile food and energy prices. Both jumped 1% in July.
Kroger holds a conference calls to discuss earnings.