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Investors Eye Inflation Trends. Earnings, IPO and spinoff watch
September 24, 2023
Inflation Trends and Economic Reports
Next week, investors are expected to once again turn their attention towards inflation trends. The U.S. PCE inflation reading, along with flash CPI reports from Europe, are set to be released. Alongside these key indicators, further economic reports will be coming out, including updates on durable goods, consumer confidence, new home sales, and the advanced goods trade balance. There is a consensus among analysts that the overall balance of data releases could “corroborate an economic slowdown”. Core PCE inflation, colloquially known as the Fed’s preferred inflation gauge, is predicted to rise by 0.2% month-over-month, driving the annual rate down to 3.8%.
Upcoming Earnings Reports
Over the course of next week, earnings reports will be released by several prominent companies. These include Micron Technology (MU) (analysis), Costco (COST), Nike (NKE) (preview), and Jefferies Financial Group (JEF). Additionally, the tech industry will be keeping a close eye on Meta Platforms (META) as it hosts the eagerly awaited Meta Connect event, while Huawei has a crucial product event scheduled. Investors in the energy sector will be particularly interested in the TotalEnergies (TTE) Investor Day event, taking place amid a recent surge in oil prices.
Earnings Spotlight
Daily earnings highlights for the week will include reports from THOR Industries (THO) on Monday, Costco (COST), Cintas (CTAS), and United Natural Foods (UNFI) on Tuesday, Micron Technology (MU), Paychex (PAYX), and Jefferies Financial Group (JEF) on Wednesday, Accenture (ACN), Nike (NKE), CarMax (KMX), and Jabil (JBL) on Thursday, and Carnival (CCL) on Friday.
The IPO market is expected to take a brief pause in the upcoming week, with no new pricing predicted. The analyst quiet period for Inspire Veterinary Partners (NASDAQ:IVP) will conclude, while the IPO lockup period for shares of several companies, including Hongli Group (HLP), Jin Medical (NASDAQ:ZJYL), YanGuFang International Group (YGF), Vesta (NYSE:VTMX), Alliance Entertainment Holding (AENT), Himalaya Shipping (HSHP), and Hitek Global (HKIT), is set to expire. Out of this group, Jin Medical has recorded the most significant share price increase since the IPO dates. Finally, Instacart/Maplebear (NASDAQ:CART) is set to embark on its second week of trading.