Earnings, jobless claims, Fed’s Beige Book: What to watch this week
It's a relatively quiet and holiday-shortened week for investors. There is some economic data on tap, including the Federal Reserve’s Beige Book on Wednesday, initial jobless claims on Thursday, and wholesale inventories on Friday. On the earnings front, C3.ai (AI), GameStop (GME), RH (RH), DocuSign (DOCU), and Kroger (KR), are just some of the companies set to release results this week. Yahoo Finance Reporter Josh Schafer breaks down what to watch in the week ahead.
Video Transcript
JULIE HYMAN: With more on what's ahead this week, as always, we are joined by "Yahoo Finance's" Josh Schafer with the calendar action.
JOSH SCHAFER: Yes, Julie. And it is admittedly not our most exciting calendar. This might actually be-- I like to rate the calendar. This might be one of our more boring calendars we have all year, candidly.
But what we do have is a couple little data points. We got a couple of things to get excited about. Tomorrow, the Federal Reserve's Beige Book will be out. And that gives us a look at the state of the economy from the different areas where the Federal Reserve banks are throughout the country. That will be an interesting thing to watch to see what we hear about economic growth, or perhaps cooling of economic growth in some areas.
And another thing I think will come into focus a little bit more over the next couple of months now is initial jobless claims every Thursday. That's a weekly release we get. And that number has not moved a lot over the last couple months, meaning, there hasn't been more people filing for jobless claims. Interesting to see that with the unemployment rate up. What that really told us on Friday was just that there were more people coming into the labor market, not necessarily more people becoming unemployed. It's more people that were looking for work.
So I think that Thursday release is going to become something people are watching a bit more moving forward now. And then we do still have some earnings this week. Not an overly exciting earnings week, but a couple of things to watch, if we take a look at that side of the calendar with what we have for earnings. You'll see that there's a couple companies reporting.
Key companies I'm watching really on Wednesday here, I think it could be fun to just see how C3 AI and GameStop move on earnings. Those we know are too meme-like trades C3 AI really driven by that AI trade. GameStop has been a meme mover in the past.
Do we still have any market exuberance left after we cooled off in August? I think we might get a better look at that on Wednesday. And then on Friday, we have Kroger, which will be interesting to hear about that potential merger. And then also, just what's happening with groceries, what's happening with inflation. So a couple key points to look at. But really, I think we're starting to get to the point in September, guys, where we're waiting to hear more before that Fed meeting. And we're not going to get that until an inflation print next week.
