Lennar reports quarterly results.
Pfizer hosts a two-day virtual investor day to discuss its
pipeline of drugs.
Adobe and FedEx report earnings.
Kraft Heinz hosts a virtual investor day where senior
management, including CEO Miguel Patricio, will discuss the
The Federal Reserve Bank of New York releases its Empire State
Manufacturing Survey for September. Consensus estimate is for a 7.5
reading, up from August's 3.7.
The Bureau of Labor Statistics reports export and import prices
for August. Economists forecast a 0.4% month-over-month rise in
export prices, compared with a 0.8% gain in July. Import prices are
seen jumping 0.6%, a shade below July's 0.7% spike. In recent
months, the rise in import prices has been primarily driven by
higher fuel prices.
The National Association of Home Builders releases its
NAHB/Wells Housing Market Index for September. Expectations are for
a 78 reading, even with the August figure. The August reading
matched the December 1998 data as the highest in the 35-year
history of the index. The housing market has made a remarkably
quick and strong recovery from the pandemic lows. A byproduct of
this has been soaring lumber prices.
The Census Bureau reports retail sales for August. Consumer
spending is expected to rise by 1.3% month over month. Excluding
autos, estimates call for a 1.5% gain. This compares with jumps of
1.2% and 1.9%, respectively, in July.
The Census Bureau reports residential construction data for
August. Consensus estimate is for a seasonally adjusted annual rate
of 1.44 million housing starts of privately owned homes, down from
1.5 million in July. Like much of the real estate market, housing
starts have rebounded strongly from their pandemic low of 934,000
The Department of Labor reports initial jobless claims for the
week ending on Sept. 12. Weekly jobless claims remain elevated
historically, but have fallen from an average of 1.5 million in
June to 992,250 in August.
The University of Michigan releases its Consumer Sentiment Index
for September. Economists forecast a 75.5 reading, slightly ahead
of August's 74.1.
The Conference Board releases its Leading Economic Index for
August. Expectations are for a 1.3% gain, roughly even with the
previous month. The LEI has risen for three consecutive months, but
the pace of change has slowed, suggesting that the postpandemic
recovery is losing steam.
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(END) Dow Jones Newswires
September 11, 2020 22:31 ET (02:31 GMT)
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