Week Ahead on Wall Street

Economic Data

The U.S. economy relies heavily on consumer spending. As we’re heading for holiday shopping season, it matters how Americans are feeling about the economy. This week’s data releases will help shed some light.

First up, August consumer price inflation is due on Wednesday. In July, inflation accelerated slightly to 3.2% year-over-year, the first increase after falling for 12 months straight. Investors will also get an update to the current 30-year fixed-rate mortgage, which sits above 7%.

On Thursday, August retail sales will illuminate consumer spending at the end of the summer. And following the previous day’s CPI, the August PPI — wholesale inflation — will be released. This inflation measure tracks how much U.S. producers sell their products for.

On Friday, the week will close out with an early look at results from the University of Michigan’s consumer sentiment survey in September. In August, confidence dipped to 69.5 from a 21-month high in July. Reports on import and export prices and industrial production will also come in. The latter rose 1% in July, the most in six months.

Outside the consumer theme, the NFIB Small Business Optimism Index for August will be reported on Tuesday. In July, this measure of economic confidence increased for the third straight month. Additionally, 21% of business owners reported inflation as their single biggest concern. On Friday, investors will also watch for August industrial production numbers after the July data blew expectations out of the water.

Company Spotlight

Adobe (ADBE) is set to report earnings on Thursday and could give investors more insight into its AI plans. The software company has implemented generative AI into its offerings. Its popular Firefly product, which uses AI image and text generation, is already available through a beta version of Photoshop. Now, the company is working on rolling out these AI features to Adobe Express, its all-in-one cloud-based design platform.

Earnings

Oracle (ORCL) will kick off this slower week of earnings reports. Management could speak on the company’s recent top secret approval to host sensitive information on Oracle Cloud Infrastructure.

On Tuesday, carbon chemistry company NanoXplore (GRA) will report its latest quarterly earnings. The company’s management may offer more specifics on its recent deal to supply a well-known commercial vehicle OEM with lithium-ion battery cells.

On Friday, Lennar (LEN) earnings will round out the week. The nation’s second-largest homebuilder recently made headlines for securing an investment from Warren Buffet’s Berkshire Hathaway, which sent the company’s shares higher.

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