Tech companies Apple and Amazon will report earnings today and the release of data on inflation and labor costs will shed light on the health of the US economy ahead of the presidential election next year. next week.
Apple: Investors will want to learn more about demand for the tech giant’s latest iPhone, which is equipped with artificial intelligence technology.
Amazon: The e-commerce giant’s cloud business has been a standout performer, and investors will be looking for hints about the outlook for consumer spending during the holiday season, which can also help paint a picture of the health of the economy as a whole.
Other companies: Mastercard and Roblox are reporting before the bell. Intel will report after the market closes.
Inflationary: Economists predict that the core personal consumption expenditures price index – a measure of inflation closely watched by the Federal Reserve – rose 2.6% annually in September, down from 2.0%. .7% in August. The same PCE report is forecast to show consumer spending growth increasing to 0.4% from 0.2% in August.
Economic data: One of the Federal Reserve’s favorite wage measures, the employment cost index, is expected to show costs rising 0.9% in the third quarter, about the same as the previous quarter. Additionally, new unemployment claims are forecast to top 230,000 in the week ending October 26, compared with 227,000 seven days earlier.
US Elections: Vice President Kamala Harris will hold rallies in Nevada and Arizona. Former President Donald Trump will also hold a rally in Nevada.
