Fed decision, FedEx, Nike, Costco earnings and Biden at UN General Assembly top week ahead

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The Federal Reserve will update its outlook on tapering and inflation on Wednesday

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Investors will be watching the Federal Reserve closely this week as the agency provides new insights on inflation and its impact on the US economic outlook and monetary policy going forward.

The market will take a slew of earnings from major housing data and big names including FedEx, Nike and Costco.

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President Biden is also set to make comments in person for the first time since taking office at the 76th session of the United Nations General Assembly.

anchor the protection The last Change Change %
Me: DJI dow jones average 34584.88 -166.44 -0.48%
SP500 S&P 500 4432.99 -40.76 -0.91%
me: comp NASDAQ Composite Index 15043.967518 -137.96 -0.91%

It looks like the market bounces back after a week of downtrends and an ongoing rocky September.

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Granthshala Business takes a look at the news likely going forward financial market In the coming days.

Monday 9/20

The week will begin with the Homebuilder Lennar and the National Association of Homebuilders Housing Market Index.

anchor the protection The last Change Change %
lane lenar corp 101.28 +1.03 +1.03%
MTCH Match Group, Inc. 157.14 -2.92 -1.82%
PRGO Perigo Company Plc 43.94 -0.34 -0.77%

It will also be a big day for Match Group, which will replace Perigo Company in the S&P 500.

Tuesday 9/21

Earnings will pick up on Tuesday with Adobe, AutoZone and Cracker Barrel before the market opens, and FedEx and Stitch Fix after the bell.

anchor the protection The last Change Change %
adbe Adobe, Inc. 654.48 -10.63 -1.60%
azo Autozone, Inc. 1,592.88 -14.54 -0.90%
CBRL Cracker Barrel Old Country Store, Inc. 138.61 +2.20 +1.61%
fdx FedEx Corp. 255.22 -3.16 -1.22%
SFIX stitch fix 35.51 +1.30 +3.80%

As far as economic data is concerned, investors will keep an eye on building permits, housing starts and the US current account for the second quarter.

It will update its forecasts for major economies in its interim outlook as will the Organization for Economic Co-operation and Development (OECD).

anchor the protection The last Change Change %
rjf Raymond James Financial, Inc. 133.53 -1.03 -0.77%

Other market-related events to watch include the Raymond James 3-for-2 stock split, which will take effect as of September 9, with a 50% stock dividend payable to shareholders of record. Shareholders will receive an additional share of Raymond common stock for every two shares owned by James Financial, which will be distributed Tuesday. Cash will be distributed against fractional shares based on the closing price of the stock on Monday.

anchor the protection The last Change Change %
xrx Xerox Holdings Corp. 20.98 0.00 0.00%
ice Intercontinental Exchange, Inc. 117.70 -1.23 -1.03%
NDAQ Nasdaq, Inc. 192.90 -2.53 -1.29%

Xerox will move its common stock listing from the New York Stock Exchange to the Nasdaq on Tuesday. The company will keep its current ticker symbol XRX.

In addition, Universal Music Group is expected to start trading on Euronext Amsterdam on Tuesday. IPO prospectus. The label behind Taylor Swift and the Rolling Stones is targeting an estimated equity value of €33 billion, or $39 billion. About 60% of the shares in Universal will be distributed to French media conglomerate Vivendi, which also includes its controlling billionaire Vincent Bollor. Last month, Bill Ackman’s Pershing Holdings bought a 10% stake in the company at a valuation of €35 billion. Tencent Holdings also bought a total of 20% stake last year.

In the world of politics, Biden will speak at the 76th session of the United Nations General Assembly. In-person speech will come as the world continues to deal with the COVID-19 pandemic, the spread of its variants, and uneven vaccination rates. It also comes as the Biden administration is being criticized for the withdrawal of US forces from Afghanistan.

Wednesday 9/22

General Mills, Blackberry, HB Fuller, KB Home and Steelcase are all set to report earnings on Wednesday.

anchor the protection The last Change Change %
GIS General Mills, Inc. 58.92 +0.20 +0.34%
bb Blackberry Ltd. 10.03 -0.13 -1.28%
Phule HB Fuller Company 60.72 -1.61 -2.58%
kbh KB Home 42.54 +0.43 +1.02%
scs Steelcase, Inc. 13.64 -0.04 -0.29%

Investors will also be watching the FOMC’s decision and the subsequent press conference by Federal Reserve Chairman Jerome Powell. Inflation has ticked up since the last meeting that presented potential headwinds for the central bank.

In other economic news, data on current home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude stock will be released.

Wednesday will also be filled with initial public offerings from aka Brands, FreshWorks and Toast. Toast and AKA Brands will trade under the ticker symbols TOST and AKA on the New York Stock Exchange, while FreshWorks will trade under FRESH on the NASDAQ.

Meanwhile, upon approval from shareholders, MoneyLion is expected to trade on the New York Stock Exchange under the ticker symbol ML. MoneyLion plans to go public through a business combination with Fusion Acquisition Corp., a special purpose acquisition company (SPAC).

Microsoft will also hold a special event on Wednesday where it is expected to unveil new Surface devices as well as provide an update to Windows 11, which is set to launch on October 5.

anchor the protection The last Change Change %
msft Microsoft Corp. 299.87 -5.35 -1.75%

Thursday 9/23

Closing the week for earnings will be Accenture, Darden Restaurants and Rite Aid before the opening bell. Meanwhile, Costco, Nike and Vail Resorts are all set to hog the limelight after the bell.

anchor the protection The last Change Change %
ACN Accenture PLC 335.40 -6.83 -2.00%
DRI Darden Restaurants, Inc. 149.43 -0.87 -0.58%
Red rite aid 17.40 -0.32 -1.81%
Cost Costco Wholesale Corporation 459.51 -3.80 -0.82%
NS Nike, Inc. 156.42 -1.18 -0.75%
mtn Vail Resorts 308.50 +7.50 +2.49%

Economic data on the docket for Thursday will be weekly preliminary and sustained jobless claims, the National Activity Index, the Market Services and Manufacturing Purchasing Managers’ Index, the Index of Key Economic Indicators, and readings on real household net worth and real non-financial debt. Second quarter.

In addition, it will be another busy day for Naulton Development and EngageSmart trading on the New York Stock Exchange and initial public offerings with Thorne Healthtech, Sterling Check, Sovos Brands, Brilliant Earth Group and Remitly Global trading on the NASDAQ.

Friday 9/24

The closing of the week for economic data will be the creation of permits and new home sales.

It will also be a busy day for the Federal Reserve as Powell delivers opening remarks ahead of a virtual “Fed License: Perspectives on the Pandemic Recovery” event. Other Fed officials are also expected to speak.

President Biden will host the first-ever Quad Leaders Summit at the White House with Prime Minister Scott Morrison of Australia, Prime Minister Narendra Modi of India and Prime Minister Yoshihide Suga of Japan. According to white HouseThe meeting included deepening our ties with the Quad leaders and “pragmatic cooperation” on areas including combating COVID-19, addressing the climate crisis, partnering on emerging technologies and cyberspace, and promoting a free and open Indo-Pacific. The focus will be on taking it forward”.


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