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Jobs, Pepsi earnings and Powell comments in the week ahead

Video Credit: Reuters Studio
Published on September 27, 2019 - Duration: 01:31s

Jobs, Pepsi earnings and Powell comments in the week ahead

Wall Street will get an update on hiring and manufacturing activity for September and Federal Reserve Chairman Jerome Powell may provide a clue on what's next for interest rates.

Conway G.

Gittens has the look ahead.

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Jobs, Pepsi earnings and Powell comments in the week ahead

The big event in the coming week is likely to be the Labor Department's all-important monthly employment report.

After weaker-than-expected hiring in August, investors will be looking to see if that carried over into September.

Economist polled by Reuters predict a net payroll gain of 140,000.

Meanwhile, the unemployment rate is expected to hold steady at 3.7 percent.

One other thing to watch: average hourly earnings.

Wages are expected to see a larger rise than they did in August.

Ahead of that, the latest snapshot from the factory floor.

The Institute for Supply Management's manufacturing index is predicted to show growth in September, after shrinking in August for the first time in three years.

Economists will be looking for signs of improvement in business confidence, now that the rhetoric around the U.S.-China trade war appears to have softened.

All that new data will be on the mind of Federal Reserve Chairman Jerome Powell.

He delivers remarks on Friday.

It will be Powell's first public comments since a press conference in September that came with the second rate cut of the year.

Investors are listening for any clues on where Powell sees the economy going and what that could mean for the possibility of a third rate cut.

On the corporate front: Is Pepsi's new marketing campaign around its sodas leading to better sales and increased market share for the lagging drinks unit?

Investors will find out Thursday when the soft drink and snacks company releases quarterly results.

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