Wall Street Braces for Key Data on Inflation, Jobs and Consumer Confidence
US markets await consumer confidence, PCE inflation and September payrolls data for clues on the economy's resilience.
Wall Street faces a data-heavy week, with fresh readings on consumer sentiment, inflation and the labour market set to shape expectations about the health of the world's largest economy.
The Conference Board releases its consumer confidence survey for September on Tuesday. Sentiment has been unsteady through the year, and in August the gauge fell to its weakest reading in seven months.
Midweek brings the personal consumption expenditures price index for August, an inflation measure watched closely by both investors and the Federal Reserve. Price growth remains stuck above 3%, well short of the central bank's 2% target, and policymakers have already raised interest rates in an effort to bring it down.
A major driver has been the cost of fuel. The US war with Iran has constrained global oil supplies since late February, pushing up petrol prices and straining household budgets. The effects extend beyond the pump: costlier fuel also raises shipping expenses, feeding into prices for goods ranging from food to clothing.
The week closes on Friday with the September employment report. Hiring has been one of the economy's steadier pillars, but it is beginning to show strain, and wage growth has been easing — making it harder for workers to keep pace with rising prices.