The week ahead: 27/09/21
A mixed set of earnings this week includes Micron, Cintas, Next, Paychex, Carmax and McCormick & Co. Global manufacturing conditions will be highlighted by US durable goods orders and manufacturing PMI data for China, France, Germany, the eurozone, the UK and the US.
Monday 27 September
After a low-key start to the week for data on Monday morning, look out in the afternoon for the latest US durable goods orders. This gives a measure of manufacturing activity by calculating the overall value of new orders for manufactured goods. In July the core reading showed a 0.7% increase in the value of orders excluding aircraft orders and other transportation items.
Tuesday 28 September
Overnight on Tuesday we’ll get the Australian retail sales for August, followed later in the morning by the GfK survey of German consumer confidence. In the US we’ll have the August goods trade balance, retail inventories and the Conference Board consumer confidence reading. The earnings schedule includes computer memory and data storage producer Micron, where we might learn more about the effect of increased home-working on the memory chip market.
Wednesday 29 September
On Wednesday look out for earnings from facilities supplier Cintas, clothing and home retailer Next (which recently announced a deal to run Gap’s UK and Ireland operations), manufacturing services company Jabil and industrial tools group Enerpac. At 3pm UK time we’ll have US pending home sales, followed half an hour later by the latest crude oil inventories.
Thursday 30 September
Data releases on Thursday include Japanese industrial production and retail sales, Chinese manufacturing and non-manufacturing PMI, French consumer spending, German and eurozone unemployment, and German CPI. Q2 GDP updates are also expected in the UK and the US. Reporting to the market, we’ve got payroll services firm Paychex, used-car retailer Carmax, food multinational McCormick & Co, investment banking group Jefferies, UK engineering firm Renishaw and US retail chain Bed Bath & Beyond.
Friday 1 October
The Tankan survey, released overnight, will give a detailed view of Japanese business confidence. Later in the morning keep an eye out for French, German, eurozone and UK manufacturing PMI figures, along with German retail sales and eurozone CPI. The afternoon’s highlights are US manufacturing PMI and the University of Michigan consumer sentiment index, which last time out showed a small bounce after falling to its lowest level in a decade.
Published: 27 September 2021
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