The Week Ahead on Wall Street

Economic News

There is no economic data scheduled to be released today.

The NFIB small business index for September is released tomorrow, which tracks sentiment among small business owners. In August the NFIB index had a reading of 100.1, which was only up 0.4 points from July. If the reading for September is flat or lower it signals that business owners are not feeling optimistic about the economy.

On Wednesday, be on the lookout for the Consumer Price Index for September. This measures the prices of items in a basket of goods including food, shelter, energy, transportation, and healthcare from one month to the next. In August the CPI increased 5.3% year-over-year and only 0.3% from July. The results were below what economists were expecting.

On Thursday, initial unemployment and existing claims for the previous week are released. Initial unemployment claims dropped to 326,000 last week as extra federal unemployment benefits came to an end. Economists had expected unemployment claims to be 345,000 for the week. Investors will be watching to see if initial unemployment claims continue to drop as COVID-19 cases fall. Also Thursday, the Producer Price Index for September is released.

On Friday, retail sales for September are published. Investors will be paying close attention to see if sales continue to improve despite supply-chain constraints, rising commodities prices, and other challenges. In August, retail sales posted a surprise 0.7% increase. Economists had been looking for a decline of 0.8%. Also Friday, the Consumer Sentiment Index for October is released.

Earnings Reports

Today, there are no major earnings scheduled for release.

Tomorrow, Enzo Biochem (ENZ) reports quarterly earnings. In July the bioscience and diagnostics company received an expansion of the FDA’s Emergency Use Authorization for its COVID-19 test. With the Delta variant spreading rapidly this summer and into the fall, investors will be paying close attention to Enzo Biochem’s sales growth when it reports quarterly earnings. In the third quarter revenue jumped 94% year-over-year.

Wednesday, be on the lookout for JPMorgan Chase (JPM) to report quarterly earnings. JPMorgan will kick off earnings season for big banks. Investors will be paying close attention to loan growth in the quarter. Competition between traditional banks and fintechs is heating up and demand for loans is on the rise. Investors will be curious to see what impact this is having on large banks.

Thursday, Alcoa (AA) reports quarterly earnings. The country’s biggest aluminum producer just set an ambitious goal to achieve zero emissions by 2025. Alcoa plans to slash its direct and indirect emissions by 30% by 2025 and by 50% by 2030. Investors will want to hear more about that plan and what it means for the company.

Also Thursday, Domino’s (DPZ) reports quarterly earnings. The pizza chain operator has been able to keep up the momentum it achieved during the pandemic when in-person dining was shuttered. However, Domino’s is up against labor shortages and rising supplies costs, which could weigh on the company’s bottom line. All of these factors will be top of mind for investors when Domino’s reports earnings Thursday.

On Friday, JB Hunt Transport (JBHT) reports quarterly earnings. The supply-chain logistics company is expected to post strong earnings and revenue growth, driven by soaring demand and high prices. That’s not to say JB Hunt doesn’t face challenges, including labor shortages for last-mile delivery. Investors will be paying close attention to what JB Hunt has to say about the supply chain.

The Week Ahead at SoFi

This week, learn the six steps of how to successfully handle salary negotiations and have meaningful job offer discussions. Plus, tune in for Your Next Dollar. Learn more about these events and more in the SoFi app!

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