Wall Street week ahead

The week ahead of Wall Street will be busy, with several important economic reports and numerous speeches of officials at the US Federal Reserve, including chairman Jerome Powell and Vice Chairman for Supervision Michelle Bowman. After the loss of last week’s interest rate cut, market participants will watch closely the comments of the Fed speakers and the incoming economic data, as the US Central Bank indicated that more rate cuts could follow later in the year. The Federal Reserve lowered interest rates by 25 basis points on Wednesday. The central bank explained its decision as a response to a weaker labor market, adding that future policy would be dependent on how the economy develops. Among the most important economic reports, the markets will have monthly home sales figures, the third and final GDP raising for the second quarter, data on personal income and expenses, and the Fed’s preferred inflation meter, the price index of personal consumption expenses (PCE). The earnings calendar contains financial results from Chipmaker Micron Technology, Accenture and Costco. Economic calendar on September 23 (Tuesday) will be released separate reports on S&P Flash US Services PMI and the manufacture of PMI for September. The speech of the Federal Reserve Jerome Powell is scheduled. On September 24 (Wednesday), a report on new home sales for August will be released. On September 25 (Thursday), separate reports on initial unemployed claims for the week ended September 20, the GDP (third estimate) Q2, advanced US trade balance in goods for August, will be released existing home sales for August. On September 26 (Friday), separate reports on personal income and personal spending for August, PCE index for August and consumer sentiment (final) will be released for September. Earnings follow companies will report the results of the second quarter in the coming week – Firefly Aerospace, Genfit, Micron, Autozone, Aar, Cintas, Worthington Steel, Stitch Fix, Costco, Accenture, Carmax and BlackBerry. Markets last week closed US supplies at Fresh Records. The Dow Jones industrial average ends by 0.4 percent at 46,315.27. The broad-based S&P 500 rose 0.5 percent to 6,664,36, while the technical rich Nasdaq-compiled index advanced 0.7 percent to 22,631,48. In the bond market, the return on the 10-year treasury increased to 4.12% from 4.11%.