Workday Reporting Jobs, Inflation Data, and More to Watch This Week
Aug 28, 2023
This week’s highlights will include new statistics on the US labour market, earnings announcements from many retailers, and the most recent inflation data with workday reporting jobs.
Best Buy, Hewlett Packard Enterprise, and HP will report on Tuesday, followed by Salesforce and Brown-Forman on Wednesday. Broadcom, Dollar General, and Campbell Soup all reported earnings on Thursday.
On Tuesday, the Bureau of Labor Statistics will release the July Job Openings and Labor Turnover Survey results. Economists predict that job postings will remain roughly flat from a month ago.
The BLS is projected to publish workday reporting jobs and an increase of 175,000 nonfarm payrolls for August on Friday, which would be a little slowdown from the previous month. The unemployment rate is expected to remain at 3.5%. Average hourly wages are expected to rise 0.4% month over month, reflecting the rate reported in July.
The Conference Board’s Consumer Confidence Survey for August will be released on Tuesday, while the Bureau of Economic Analysis’ personal income and expenditures data for July will be released on Thursday.
Economists predict a 0.3% increase in income and a 0.7% increase in spending this month. The core personal consumption expenditures price index, the Federal Reserve’s preferred inflation indicator, is expected to rise 4.2% yearly.
Monday, August 28
The Federal Reserve Bank of Dallas publishes its August Texas Manufacturing Outlook Survey.
According to FactSet, BYD has announced their findings.
Tuesday, August 29
NIO, Quarterly profits are expected from Best Buy, Hewlett Packard Enterprise, HP Inc., Box, and J.M. Smucker.
The Bureau of Labor Statistics publishes the Job Openings and Labor Turnover Survey.
On Tuesday, S&P CoreLogic will issue the Case-Shiller National Home Price Index. FactSet polled economists, who predicted a 1.1% increase in house prices in 20 major U.S. metropolitan regions in June over May. The average forecast is for a 1.3% decrease from June 2022. Even though housing prices are predicted to fall from last year, they have been rising in recent months after falling in late 2022.
The Conference Board has released its August Consumer Confidence Index.
Wednesday, August 30
Salesforce, Okta, Pure Storage, Five Below, Chewy, and Brown-Forman are slated to release earnings.
The ADP National Employment Report has been published.
Thursday, August 31
Broadcom, Dollar General, Campbell Soup, and Ollie’s Bargain Outlet release earnings
The Institute for Supply Management has released its August Chicago Business Barometer.
Friday, September 1
Jobs This week, Friday, will be widely observed. FactSet polled economists, who anticipate the US economy added 172,500 jobs in August, down from 187,000 in July. The Bureau of Labor Statistics jobs data will assist in shaping the Federal Reserve’s interest-rate decision when the Federal Open Market Committee meets on September 19-20.
The Census Bureau has released July construction spending figures.