U.S. Financial Market Update: The Week Ahead
– SEPTEMBER LABOR MARKET DATA: Friday morning’s nonfarm payrolls report for September is expected to show the pace of net hiring last month decelerated to 168,000 from 187,000 in August and an average of 235,000 in the first eight months of the year. The unemployment rate will likely dip to 3.7% from 3.8% in August, according to the median estimate in a Bloomberg survey. The United Auto Workers strike probably only had a limited effect on job growth last month as it began after the September payroll survey period ended.
– MODELO AND JEANS: A pair of consumer-focused companies reporting quarterly results Thursday could provide clues about the resilience of U.S. consumer spending this summer. Constellation Brands (STZ), the distributor of Modelo and Corona in the U.S., is projected to have grown adjusted EPS by 7% in its August quarter amid strong demand for its beer brands. Denim specialist Levi Strauss & Co.’s (LEVI) results and commentary are expected to give insight into the impact of the return of student loan repayments on discretionary spending.
Read the full US Financial Market Update Oct. 1, 2023 here.
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