Your Trading Week Ahead — September 12th

Welcome to Your Trading Week Ahead for September 12th. Here’s what you need to know before you go…

Quick recap

Equity markets edged slightly to the downside last week. The S&P 500 opened green Friday, but quickly reversed to finish at a fresh weekly low of 4,458 — down 1.7% on the week. The Dow fared even worse, closing lower on the week by 2.15% at 34,607. Tech stocks also pulled back as the Nasdaq closed down 1.61% at 15,115.

Cryptocurrencies are largely trending lower as well. At writing, Bitcoin ($BTC) is trading at $45,360 after rising above $52,000 less than a week ago. Ether ($ETH) -15%, XRP ($XRP) -16%, and Cardano ($ADA) -9% are all trading lower on the week. However, recent crypto darling Solena ($SOL) is bucking the trend, currently up about 22% in the last week.

This was the first five-day losing streak for the S&P 500 since February. And while markets might appear a little weak at the moment, the major indices are barely red on the month and about 1% off record highs. However, there’s a bit of caution in the air. Growth concerns are mounting at the same time the Fed is beginning to take its foot off the accelerator. We’ll see how markets respond as we receive retail sales, CPI data, and other critical economic indicators in the coming week.

What to watch this week

CPI and Retail Sales

A major focus this week will be on new inflation data. August’s consumer price index (CPI) will provide us with an update on growth rates for consumer goods and services. Stay tuned for its release on Tuesday.

Another closely watched report will be Thursday’s retail sales report. Consumer spending has faded in recent months. The August data will reveal if spending is continuing to decay.

Earnings roundup

There’s only a few noteworthy earrings reports to keep an eye on this week:

• Monday  – Oracle ($ORCL) after market close
• Tuesday – Lennar ($LEN) and FuelCell Energy ($FCEL) before market open
• Wednesday – Weber ($WEBR) before market open

Economic calendar

There are several events on the calendar this week with the potential to move markets. Here’s some of the most important things to watch:

• Federal budget statement (August) – Monday at 2pm ET
• Consumer price index and core CPI (August) – Tuesday at 8:30am ET
• Import price index (August) – Wednesday at 8:30am ET
• Empire manufacturing (September) Wednesday at 8:30am ET
• Initial and continuing jobless claims – Thursday at 8:30am ET
• Retail sales (August) – Thursday at 8:30am ET
• Business inventories (August) – Thursday at 10am ET
• University of Michigan consumer sentiment index (September) – Friday at 10am ET

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