US markets focus on September CPI data, Fed's Walsh speech and bank earnings
US stock indices rose last week. This week, markets watch for September CPI data, the Fed's Beige Book, and IMF-World Bank meetings. Major banks including Citigroup and JPMorgan report quarterly earnings.
All three major US stock indices posted gains last week. The Dow Jones Industrial Average rose 0.9 per cent, the S&P 500 climbed about 1.2 per cent, and the Nasdaq Composite added 0.6 per cent, according to RTHK.
This week, investors are focused on the release of September consumer price index (CPI) data. Markets expect the monthly and annual CPI gains to accelerate from 0.4 per cent and 3.4 per cent to 0.6 per cent and 3.7 per cent respectively. Core CPI is forecast to slow on a monthly basis from 0.3 per cent to 0.2 per cent, but to accelerate on an annual basis from 2.4 per cent to 2.5 per cent.
Other economic data due this week include final-demand producer price index (PPI), retail sales, industrial production, import and export prices, and existing home sales. The Federal Reserve will publish its Beige Book, a summary of economic conditions. The International Monetary Fund (IMF) and World Bank annual meetings will be held this week, and Fed Chair Jerome Walsh is scheduled to deliver a speech.
The US corporate earnings season begins, with several major financial institutions reporting results. Companies set to release quarterly figures include Citigroup, JPMorgan Chase, Goldman Sachs, Wells Fargo, Morgan Stanley, and Bank of America.