Here are the 4 big things we're watching in the stock market in the week ahead
Both sides of the Fed's dual mandate are in focus. Plus, Micron reports and Eli Lilly delivers updates on its obesity pipeline.
TL;DR
- Key economic reports this week include the JOLTS report, ADP private hiring, and the September nonfarm payrolls, which will inform the Federal Reserve's stance on interest rates.
- August's personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, will also be released, with potential methodology updates affecting the reading.
- Micron's earnings report will be closely watched for insights into the demand and pricing power within the AI chip market and the sustainability of the current investment cycle.
- Eli Lilly will provide trial data for its obesity and diabetes pipeline drugs, including retatrutide, eloraTZP, and Foundayo, offering a look into the next phase of the weight loss drug race.
- Traders are increasing bets on further Federal Reserve interest rate hikes, influenced by recent strong economic data and the ongoing inflation concerns.