The Week Ahead For September 16th To 20th: FOMC On Wednesday
The NASDAQ 100 was higher for the week along with the Dow Jones Industrial Average, Russell 2000 and S&P 100. It was the third week in a row all indexes tracked here were higher.
1.Geopolitical and Fiscal Events. RBA is out with its latest minutes on Monday night. Wednesday sees the Federal Reserve Open Market Committee out with its latest announcement.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Empire State Manufacturing, Industrial Production, Housing Starts, Philadelphia Federal Manufacturing, Existing Home Sales and Leading Indicators.
3.Earnings Releases. Notable releases this upcoming week include ADBE FDX CHWY CBRL APOG GIS MLHR DRI SCS.
Monday, September 16
September Empire State Manufacturing is due out at 8:30 a.m. EDT and is expected to rise to 5.5 from 4.8
The Reserve Bank of Australia (RBA) is out with its latest minutes at 9:30 p.m. EDT.
Tuesday, September 17
August Industrial Production is due out at 9:15 a.m. EDT and came in last month at -0.2% but is now expected to rise by 0.1%.
The Federal Reserve Open Market Committee (FOMC) begins a two-day meeting that ends on Wednesday.
Wednesday, September 18
August Housing Starts are due out at 8:30 a.m. EDT and are expected to come in at 1,255,000 from 1,191,00.
The latest FOMC announcement is due at 2:00 p.m. EDT and is expected to see a rate increase of 25 basis points. This will be followed by a press conference at 2:30 p.m. EDT with Federal Reserve Chairman Jerome Powell aka “The Bonehead”. Thursday, September 19
Philadelphia Federal Manufacturing is due out at 8:30 a.m. EDT and is expected to come in at 8 from 16.80.
August Existing Home Sales are due out at 10:00 a.m. EDT and are expected to come in at 5.36 million from 5.42 million.
August Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 0.1% from 0.5%.
Friday, September 20
None of note.