The Week Ahead: Earnings From Pepsi and Costco, Unemployment Rate Reports
Economic reporting on trade balance, updates for August data, and WeWork's IPO sees further delays.
Commentary
As fall settles in, quarter-end is upon us. Earnings season will be heating up as we move into October, and we kick off with familiar household names Pepsi (PEP) and Costco (COST) on Wednesday.
Economic reporting is busy with September data. Average hourly earnings and unemployment rate reports are due for release on Friday. August’s trade balance report releases on Friday and is a noted report as President Donald Trump moves to accelerate negotiations for a trade deal with Beijing. Lastly, weekly EIA reports on Crude Oil Inventories will be watched for after attacks on Saudi Arabia’s oil reserves.
Other developing stories in the market include United Auto Workers’ extended strike at General Motors (GM); GM dealers are feeling the impact with interrupted flow of replacement parts. WeWork’s IPO saw further delay, after much buzz surrounding cofounder Adam Neumann stepping down from the CEO role. News that SoftBank, one of WeWork’s biggest backers, is reportedly planning to funnel more than $1 billion is making headlines as well. Lastly, news of an escalating impeachment process may further stir the market next week.
Jess Liu does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.