Earnings season has slowed, but there are a few important earnings to watch, including Nike and Costco. Broadly, investors will also keep a careful eye on Congress, as a government shutdown looms at the end of the month without a government funding deal in place.
Monday, September 25
There's little on the calendar to kick off the last week of September. There are no major earnings to report, nor any economic indicators being reported.
Investors should keep an eye on the big three automakers as UAW strikes go into effect at 38 GM and Stellantis plants in 20 states.
Tuesday, September 26
Costco Wholesale Corporation (NASDAQ:COST) is expected to report a rise in top-line and bottom-line growth when it releases its fourth-quarter earnings after the closing bell on Tuesday, September 26.
Following a disappointing third quarter which saw net sales up by just 1.9% and diluted earnings per share (EPS) decline by 3.6% as shoppers pulled back on discretionary spending due to high inflation and economic uncertainty, the prognosis for 4Q is much healthier ...read the preview.
Others due to report:
Earnings: MillerKnoll, AAR (NYSE:AIR) Corp
Economic announcements: Consumer confidence, new home sales
Wednesday, September 27
Semiconductor stock watchers will have their eyes on Micron Technology, which is due to report after Wednesday's closing bell. In June, analysts at UBS told investors to “focus on the narrative over the noise” as they reiterated their 'Buy' recommendation for the company.
Others due to report:
Earnings: Concentrix Corp, Jefferies Financial Group, Worthington Industries (NYSE:WOR), HB Fuller
Economic announcements: Durable-goods orders, durable good minus transportation
Thursday, September 28
Nike Inc (NYSE:NKE) earnings will be the main earnings event on Thursday. The shoe and apparel retailer is projected to report earnings of $0.74 per share on revenue of $13 billion.
Federal Reserve Chairman Jerome Powell is also scheduled to speak at 4 pm ET.
Others due to report:
Earnings: BlackBerry, Vail Resorts (NYSE:MTN)
Economic announcements: Initial jobless claims, GDP revision
Friday, September 29
A slew of economic data will shape sentiment on the final day of the week, headlined by the personal consumption expenditures (PCE) index.
Others due to report:
Economic announcements: Personal income, personal spending, core PCE, consumer sentiment, advanced US trade balance in goods