The coming week in financial markets kicks off with a holiday closure for the bond market on Monday, Oct. 12, in observance of Columbus Day/Indigenous Peoples Day. The next key event arrives on Tuesday, Oct. 13, with the release of September’s existing home sales data, which showed a slight decline to a seasonally adjusted annual rate of 3.960 million from 3.980 million in August.
Wednesday, Oct. 14, will see the release of the September Consumer Price Index (CPI) report. The month-over-month CPI rose by 0.6%, up from 0.4% in August, while the core CPI increased by 0.2%, down from 0.3%. Year-over-year, CPI grew to 3.6% from 3.4%, and core CPI remained steady at 2.4%. Additionally, the Federal Reserve will release its Beige Book.
Thursday, Oct. 15, features several important reports, including initial unemployment insurance claims for the week ending Oct. 10, which slightly increased to 198.5K from 197.0K the previous week. The Federal Reserve Bank of Philadelphia’s October index dropped to 36.5 from 37.8 in September. The September Producer Price Index (PPI) showed a month-over-month increase of 0.5%, up from 0.4% in August, while core PPI rose to 0.25% from 0.20%. Retail sales for September grew by 0.35%, down from 1.20% in August, and business inventories increased by 0.3% from 0.8% in July.
Friday, Oct. 16, will wrap up the week with the release of September’s capacity utilization and industrial production data. Capacity utilization edged up to 76.4% from 76.3% in August, while industrial production rose by 0.4% after remaining flat in August.
Earnings season continues with major companies reporting this week. On Tuesday, Oct. 13, UnitedHealth Group (UNH), Johnson & Johnson (JNJ), JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) will release their results. Wednesday, Oct. 14, features BlackRock (BLK) and Bank of America (BAC). Thursday, Oct. 15, includes Taiwan Semiconductor (TSM), Schwab (SCHW), US Bancorp (USB), PNC Financial Services (PNC), M&T Bank (MTB), Truist Financial (TFC), and Regions Financial (RF).