ON MONDAY

Following Friday’s solid consumer spending data, investors will watch for comments from Federal Reserve speakers. Federal Reserve Board Governor Christopher Waller is likely to speak on “Payments” at the Sibos 2025 Conference. (0730/1130) Meanwhile, Federal Reserve Bank of Cleveland President Beth Hammack is scheduled to participate in a policy panel on inflation during the hybrid “Inflation: Drivers and Dynamics Conference 2025”, hosted by the European Central Bank (ECB), the Center for Inflation Research and the Federal Reserve Bank of Cleveland. (0800/1200) Separately, Federal Reserve Bank of New York President John Williams is expected to participate in a moderated conversation organized by the Rochester Institute of Technology. (1330/1730) Elsewhere, Federal Reserve Bank of St. Louis President Alberto Musalem is likely to speak at the event, “The Past, Present and Future of the Federal Reserve”. (1330/1730) Additionally, Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to moderate a conversation on Atlanta’s economy, air travel and leadership, as part of the Atlanta Fed Leading Voices Series. (1800/2200)

The National Association of Realtors’ pending home sales index for August is expected to be released. The July reading came in at 71.7. Meanwhile, pending sales are likely to rise 0.3% on a monthly basis, after a decline of 0.4% in the month before.

Carnival Corp is expected to report a rise in third-quarter revenue, driven by strong demand for its cruise voyages. Investors will look for comments on prices, promotions, booking data and annual forecasts.

GoPro will attempt to convince a federal jury that it does not infringe patents owned by Contour IP Holding LLC related to point-of-view camera technology. Contour is seeking between $64 million and $173 million in damages, according to a court filing.

Investment bank Jefferies Financial will release its third-quarter results after the market close.

A series of key economic indicators from Latin America’s largest economies are expected to be released. Brazil’s IGP-M inflation index for September is set to be reported, following the prior month’s reading of 0.36%, while Brazilian bank lending data for August will be released. In Mexico, the jobless rate for August will be closely watched, following the prior month’s rate of 2.8%.

REST OF THE WEEK

A series of key economic indicators will provide insights into the health of the U.S. economy and labor market this week. The spotlight will be on Friday’s labor market data, with the Labor Department set to show nonfarm payrolls likely increased by 50,000 jobs in September, compared to 22,000 in August. The unemployment rate is expected to remain at 4.3% in September, while private payrolls probably climbed by 50,000 jobs. Separately, average earnings likely rose 0.3% month-over-month and 3.7% year-over-year, and the average workweek is expected to be unchanged at 34.2 hours. On Wednesday, manufacturing activity will be closely watched with the Institute of Supply Management’s manufacturing PMI for September forecast at 49.0, compared to 48.7 in August, while ADP’s national employment report for September is likely to show 50,000 jobs added, compared to 54,000 in the prior month. Meanwhile, S&P Global’s final manufacturing PMI for September is also scheduled to be released on the same day. Additionally, the Commerce Department’s construction spending for August likely declined 0.1% month-over-month. On Tuesday, the Conference Board’s consumer confidence index for September is expected to decline to 96 from 97.4, while the Chicago PMI for September is forecast at 43.0, compared to 41.5 in the prior month. Additionally, the Labor Department’s JOLTS job openings report for August is scheduled to post a rise of 7.125 million openings, down from July’s increase of 7.181 million. Furthermore, housing market data for July is set to be released. On Thursday, the Labor Department will release weekly jobless claims data, with initial claims likely to rise to 223,000 from 218,000 for the week ending September 27, while factory orders for August are believed to have increased 1.4% month-over-month. On Friday, the Institute of Supply Management’s non-manufacturing PMI for September is expected at 51.8.

Nike is expected to post a drop in first-quarter revenue on Tuesday, as the sportswear giant works through a turnaround under CEO Elliott Hill. Investors will watch for comments on the company’s marketing strategy for upcoming sporting events such as the soccer World Cup, as well as its progress in managing its direct-to-consumer and wholesale businesses.

On Tuesday, Federal Reserve Vice Chair Philip Jefferson is likely to speak on “Monetary Policy Frameworks and the U.S. Economic Outlook” at the Bank of Finland International Monetary Policy Conference. (0600/1000) Additionally, on Friday, Jefferson is expected to speak on “U.S. Economic Outlook and the Fed’s Monetary Policy Framework” at the Drexel Economic Forum. (1340/1740) Meanwhile, Federal Reserve Bank of Chicago President Austan Goolsbee is scheduled to participate in a moderated question-and-answer session before the Federal Reserve Bank of Chicago Midwest Agriculture Conference: Midwest Agriculture and Trade Uncertainty. (1330/1730) Separately, Federal Reserve Bank of Dallas President Lorie Logan is set to participate in a conversation moderated by Federal Reserve Bank of Dallas Vice President Pia Orrenius at the Dallas Fed Survey Participants’ Appreciation Reception on the same day. (1910/2310) Furthermore, on Thursday, Logan is also scheduled to participate in a moderated conversation before the UT Evolving Energy and Policy Landscape Conference. (1030/1430) Also, Federal Reserve Bank of New York President John Williams is due to give a keynote speech at the Klaas Knot Farewell Symposium organized by De Nederlandsche Bank (DNB). (0605/1005)

On Thursday, Tesla is expected to report a slight drop in third-quarter deliveries compared to the same period last year. However, the September quarter is poised to be Tesla’s strongest this year, driven by a surge in demand as consumers rushed to take advantage of the U.S. government’s planned expiration of the $7,500 federal EV tax credit at the end of the quarter.

Conagra Brands is expected to report a decline in first-quarter revenue on Wednesday, as customers shift to cheaper private-label brands, hurting demand. Investors will look for comments regarding consumer spending, tariff impacts, pricing, product strategies and annual forecasts.

Canada’s S&P Global Manufacturing PMI for September is due on Wednesday. The index posted a reading of 48.3 in August.

On the Latin American economic front, Brazil’s and Mexico’s S&P Global manufacturing PMI for September will be closely watched on Wednesday. On the same day, Brazil’s IPC-Fipe inflation index for September is scheduled for release. On Tuesday, Brazil’s primary budget data for August is set to be reported. The country reported a deficit of 66.566 billion reais in July. On the last day of the week, Brazilian industrial output data for August will be reported. S&P Global’s services and composite PMI for September will also be released on the same day.