Monday September 5, 2022: Markets Closed
Sept 5, 2022 1:06:19 GMT -8
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Post by Dave on Sept 5, 2022 1:06:19 GMT -8
Good morning. Mr. Market is on holiday today and will be back tomorrow. Enjoy.
What to Expect in the Markets Next Week
What to Expect in the Markets Next Week
Events Calendar:
Monday, September 5
U.S. Markets Closed for Labor Day
China Southern Airlines (ZNH) and Legend Biotech (LEGN) report earnings
Tuesday, September 6
UiPath (PATH), GitLab (GTLB), Guidewire Software (GWRE), and HealthEquity Inc. (HQY) report earnings
S&P Global Composite PMI (Aug)
ISM Non-Manufacturing/Services PMI (Aug)
Australia GDP Growth Rate (Q2 2022)
Wednesday, September 7
Gamestop (GME), Casey's General Stores (CASY), and Asana (ASAN) report earnings
*Apple hosts “Far Out” September Showcase*
U.S. Trade Balance (July)
Fed Beige Book Release
BOC Policy Meeting/Interest Rate Decision
Thursday, September 8
DocuSign (DOCU), National Beverage Company (FIZZ), and FuelCell Energy (FCEL) report earnings
ECB Policy Meeting/Interest Rate Decision
China Inflation Rate (Aug)
Consumer Credit (July)
Friday, September 9
Kroger (KR) reports earnings
Wholesale Inventories (Jul)
PMI Survey Readings
On Tuesday, market watchers can expect the latest Purchasing Managers’ Index (PMI) survey readings from S&P Global and the Institute for Supply Management (ISM), for August. The S&P Global Composite PMI is expected to have fallen further to 45, down from 47.7 in July, where any survey reading below 50 indicates a contraction in activity. The survey reading has fallen for six consecutive months, with business activity declining for both goods-producing and services industries. Meanwhile, the ISM Non-Manufacturing PMI will provide an important update on the strength of the U.S. services sector. Projections are for a reading of 55.5, down from 56.7 in July and well below a pandemic era peak of 69 recorded in November of 2021.
ECB's Interest Rate Decision
Policymakers at the European Central Bank (ECB) will be conducting their next policy meeting on September 8, with an interest rate decision expected. Markets are anticipating a rate hike of at least 50 basis points (bps), with some ECB officials calling for a larger, 75-bp hike. ECB officials previously raised the benchmark Deposit Facility Rate by 50 bp in July, after maintaining the rate at negative levels since 2014. Rising inflation in the eurozone, which recently hit a new all-time high of 9.1% in August, along with a struggling euro have prompted ECB officials to consider more aggressive interest rate hikes.
Monday, September 5
U.S. Markets Closed for Labor Day
China Southern Airlines (ZNH) and Legend Biotech (LEGN) report earnings
Tuesday, September 6
UiPath (PATH), GitLab (GTLB), Guidewire Software (GWRE), and HealthEquity Inc. (HQY) report earnings
S&P Global Composite PMI (Aug)
ISM Non-Manufacturing/Services PMI (Aug)
Australia GDP Growth Rate (Q2 2022)
Wednesday, September 7
Gamestop (GME), Casey's General Stores (CASY), and Asana (ASAN) report earnings
*Apple hosts “Far Out” September Showcase*
U.S. Trade Balance (July)
Fed Beige Book Release
BOC Policy Meeting/Interest Rate Decision
Thursday, September 8
DocuSign (DOCU), National Beverage Company (FIZZ), and FuelCell Energy (FCEL) report earnings
ECB Policy Meeting/Interest Rate Decision
China Inflation Rate (Aug)
Consumer Credit (July)
Friday, September 9
Kroger (KR) reports earnings
Wholesale Inventories (Jul)
PMI Survey Readings
On Tuesday, market watchers can expect the latest Purchasing Managers’ Index (PMI) survey readings from S&P Global and the Institute for Supply Management (ISM), for August. The S&P Global Composite PMI is expected to have fallen further to 45, down from 47.7 in July, where any survey reading below 50 indicates a contraction in activity. The survey reading has fallen for six consecutive months, with business activity declining for both goods-producing and services industries. Meanwhile, the ISM Non-Manufacturing PMI will provide an important update on the strength of the U.S. services sector. Projections are for a reading of 55.5, down from 56.7 in July and well below a pandemic era peak of 69 recorded in November of 2021.
ECB's Interest Rate Decision
Policymakers at the European Central Bank (ECB) will be conducting their next policy meeting on September 8, with an interest rate decision expected. Markets are anticipating a rate hike of at least 50 basis points (bps), with some ECB officials calling for a larger, 75-bp hike. ECB officials previously raised the benchmark Deposit Facility Rate by 50 bp in July, after maintaining the rate at negative levels since 2014. Rising inflation in the eurozone, which recently hit a new all-time high of 9.1% in August, along with a struggling euro have prompted ECB officials to consider more aggressive interest rate hikes.