The past week ended on a positive note, with two important developments reducing concerns about the economy. A strong jobs report helped allay fears of a weakening labor market, while the resolution of the dockworkers’ strike eased concerns about supply chain disruptions. In addition, oil prices, which had risen sharply at the start of the week due to tensions in the Middle East, saw a welcome decline towards the weekend.
This week promises to be action-packed, with a lot on the horizon. With this wave of optimism, let’s take a look at what the week ahead has in store.
Three-day Nvidia AI Summit
NVIDIA’s AI Summit kicks off Monday and runs from October 7 to 9 in Washington, DC. The three-day event will bring together industry leaders to explore how AI can tackle some of society’s biggest challenges. With a focus on healthcare, cybersecurity, manufacturing and more, the summit will highlight AI’s potential to drive innovation in key sectors.
Amazon’s two-day Prime Day sale
Amazon’s (AMZN) highly anticipated two-day Prime Day sale event kicks off on Tuesday, offering valuable insight into consumer behavior and e-commerce trends. The sale will provide key insights into the products shoppers prioritize, as well as the broader state of consumer demand. This event is expected to highlight popular categories and pricing strategies and could serve as a precursor to the upcoming holiday shopping season.
Amazon’s recruiting strategy is driven in part by expectations that e-commerce spending will exceed total holiday sales in the fourth quarter. The company’s Prime Day event earlier this year generated more than $14.2 billion in online sales, making it one of the largest e-commerce events of the year.
Musk will finally unveil robotaxi
Tesla (TSLA) CEO Elon Musk will finally unveil the long-awaited Robotaxi at Warner Bros. on Thursday. Studios (WBD) in Los Angeles, California. The event, called ‘We, Robot’, will showcase the first look at the prototype and booking platform for owners and riders. There will also be an update to the company’s Full Self-Driving (FSD) technology, which powers the robotaxis, along with a production timeline and service launch date.
Beginning of the earnings of the financial giants
PepsiCo (PEP) will announce its earnings before the closing bell on Tuesday. On Thursday, Delta Air Lines (DAL), Infosys (INFY) and Domino’s Pizza (DPZ) will report earnings before the market opens. The week ends with the big banks taking center stage on Friday, as JPMorgan Chase (JPM), Wells Fargo (WFC), BlackRock (BLK) and BNY Mellon (BK) kick off the financial sector’s quarterly earnings season.
Inflation data will be released this week
The Consumer Credit report for September will be released on Monday. Mid-week (on Wednesday), investors will keep an eye on the Wholesale Inventories data for August, along with the minutes of the Federal Reserve’s September FOMC meeting, which could provide insight into the central bank’s next steps .
A trio of key pieces of data will be released on Thursday, including initial unemployment claims, the consumer price index (CPI) and the core CPI, providing detailed insight into inflation and labor market trends. Finally, the Producer Price Index (PPI) and core PPI will be released on Friday, along with preliminary consumer confidence data for October, ending the week with a comprehensive view of inflation pressures and the consumer outlook.
– Francisco Velasquez contributed to this article
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