Economic data and corporate reports to dominate week’s business focus
Economic indicators, including inflation, housing market trends, and employment figures, will be closely scrutinized this week following recent midterm elections. Voters recently elected Democrats to control Congress amid ongoing concerns about high prices impacting both consumers and businesses. The conflict with Iran, beginning in February, significantly reduced global oil supplies, exacerbating inflationary pressures already present due to trade disputes.
Economists, investors, and policymakers are analyzing these indicators to assess the continuing impact of these factors on prices, housing, and employment.
Consumer price data, scheduled for release Tuesday, is projected to show an inflation rate of 3.9% for October, a slight increase from 3.7% in September. This index tracks price changes across various goods and services. Inflation has consistently remained above 3% since March, following the onset of the U.S. conflict with Iran and the subsequent rise in energy costs.
On Friday, the producer price index for October will be released, offering insights into inflation before it reaches consumers. The previous report indicated the largest increase since December 2022, driven by rising fuel costs, particularly diesel, impacting shipping and warehousing expenses.
Crude oil prices have recently decreased, partly attributed to expectations that Democrats, now controlling Congress, will seek to end the conflict with Iran, which has contributed to elevated energy prices.
The housing market continues to face challenges due to high prices and increasing interest rates. Existing home sales data, due Thursday from the National Association of Realtors, is anticipated to remain largely unchanged from September. Sales have been around 4 million annually, well below the historical average of approximately 5.2 million. Home prices have seen annual increases for 39 consecutive months, and the average 30-year mortgage rate is near its highest level in nearly three years. The Federal Reserve is considering another interest rate hike in December to combat persistent inflation.
Weekly unemployment claims, released Thursday, will provide a snapshot of potential layoffs. The latest data indicates historically low claim levels, suggesting a resilient job market. U.S. employers added 165,000 jobs in October. However, wage growth has lagged behind inflation, intensifying financial strain for households.
Several companies will release earnings reports next week, offering insights into the technology and entertainment sectors. CoreWeave, a data center company, will report on Tuesday after experiencing a significant stock decline. Cisco and Applied Materials will also report on Thursday. SkyDance will release its earnings on Monday, marking the first report since its Paramount studios were acquired by Warner Bros. Discovery in an $81 billion deal.
Source
“Inflation, housing, jobs and corporate earnings will dominate the business calendar this week”
Read the original report ↗This story was written with AI tools from the original report credited above and published after automatic checks. No person read it before it was published. If you spot an error, please tell us: corrections are published on our corrections page. Read our editorial policy · Report an error · Corrections
Read next
Rate hike impacts Australians across the spectrum at Melbourne Cup
The Melbourne Cup, a scene of revelry and discretionary spending, provided a backdrop for conversations about the Reserve Bank’s recent interest…
Related
Caught up in five lines
The Brief: the day’s biggest stories, written by our desk at and .