The week ahead: 04/10/21
PepsiCo is the stand-out of a very light earnings schedule this week, along with consumer goods groups Constellation Brands and Conagra. In the macroeconomic data all roads lead to Friday’s US nonfarm payrolls. Has the US labour market picked up after last month’s disappointing reading?
Monday 4 October
While China continues its national holiday on Monday, a low-key data schedule includes US factory orders for August at 3pm UK time. In July orders increased by 0.4% month-on-month, less than June’s 1.5% increase but marginally ahead of expectations.
Tuesday 5 October
Overnight on Tuesday we’ll get the latest Tokyo CPI data, followed by Japanese services PMI and the RBA’s decision on Australian interest rates. Throughout the day look out for French, German, eurozone, UK and US services PMI readings, plus the ISM’s set of reports on US non-manufacturing conditions. Food and drink multinational PepsiCo (which recently announced its new pep+ sustainability strategy) issues Q3 results, while in the UK we’ll have a trading update from bakery chain Greggs.
Wednesday 6 October
Fortune 500 beverage group Constellation Brands reports to the market on Wednesday, along with UK supermarket Tesco. We’ll also get a production update from iron ore producer Ferrexpo. The macroeconomic data includes German factory orders, German and UK construction PMI, eurozone retail sales and the ADP report on US nonfarm employment.
Thursday 7 October
Conagra announces earnings on Thursday. The Chicago-based packaged food company is expected to shed light on the impact of successive lockdowns on consumer brand revenues. In the UK keep an eye out for the latest Halifax house price index and Q2 labour productivity figures, while in Germany we’ll see the August measure for industrial production.
Friday 8 October
Early on Friday the Japanese household spending and current account figures are released, followed in China by the Caixin services PMI for September. Later in the morning we’ll see the latest German trade balance, while in the afternoon the highlight of the day is the US labour market report, including the influential nonfarm payrolls. August showed the lowest jobs gain in seven months, at an underwhelming 235,000 jobs.
Published: 4 October 2021
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