Earnings for investment firms and banks will continue to dominate the finance news this week, but all eyes will be on key economic data and a speech from the U.S. Federal Reserve chair on Oct. 19. Jerome Powell is expected to give indications about whether the central bank will continue to raise interest rates again or take a pause in its battle against inflation.
The week ahead: Earnings dominate, Fed Chair Powell speaks on U.S. economy
- On Oct. 17, earnings come out for BNY Mellon and Goldman Sachs before the market opens.
- On Oct. 18, earnings for Morgan Stanley, Northern Trust and State Street come out before the market opens.
- On Oct. 19, earnings for Blackstone and Cohen & Steers come out before the market opens.
- Key economic data including U.S. retail sales, industrial production and business inventories will be released Oct. 17. Housing starts and building permits data will be released the next day.
- On Oct. 19, after several Fed governors give speeches earlier in the week, Federal Reserve Chairman Jerome Powell will give his view on the nation's economic outlook at an Economic Club of New York luncheon.Jobless claims, existing home sales data and U.S. leading indicators are also released that day.
- Growing controversy over an Oklahoma law requiring pension funds to terminate asset managers said to be "boycotting" oil and gas companies is expected to intensify as the boards of four Oklahoma pension funds meet next week. The Oklahoma Police Pension & Retirement System will meet Oct. 18; the Oklahoma Public Employees Retirement System and the Oklahoma Law Enforcement Retirement System meets on Oct. 19; and the Oklahoma Firefighters Pension & Retirement System will meet on Oct. 20.World governments meet in Nairobi Oct. 15-19 to develop science-based measures supporting implementation of a global biodiversity framework for policymakers, investors and companies.
- Lisa M. Gomez, assistant secretary of labor for the Employee Benefits Security Administration, and Thasunda Brown Duckett, CEO of TIAA-CREF, will discuss "filling the gaps in retirement" at an event in Washington on Oct. 16.
- The SEC on Oct. 18 will hold an open meeting to consider proposing a new rule concerning volume-based transaction pricing for stock purchases.