It\u2019s almost October, which means it\u2019s time to suit up for Basic Mom Autumn\u2122. Every year I intend to capture perfect moments of my children frolicking in a pumpkin patch, then jaunt over to a nearby orchard to pick apples. And every year I end up with back pain carrying enough apples to survive a nuclear winter as the children whine about getting scratched by branches, while I get in trouble from the farmhand because my kids won\u2019t stop biting apples and throwing them on the ground. Of course, that doesn\u2019t make it to my Instagram. <\/p>\n
It is a slim week for earnings and data, as Canadian banks and the bond market will be closed for Truth and Reconciliation Day on Tuesday. Here are five things you need to know this week.<\/p>\n
Here we go again:<\/b> The U.S. Congress has until Tuesday to approve a spending package that would avert a government shutdown. Avoiding one would require the support of Democrats in the Senate \u2013 a prospect which seems unlikely at this point. Most economists do not believe that a shutdown will have a material impact on the economy, but it could delay the U.S. jobs report, scheduled to be released Friday. <\/p>\n
Calendar: What investors need to know for the week ahead<\/a><\/p>\n \u201cIt would create a data vacuum at a time when the path ahead for the economy remains uncertain,\u201d wrote Michael Pugliese, economist at Wells Fargo. The inflation report slated for Oct. 15 could also be affected. Delays could complicate the picture for the U.S. Federal Reserve, especially given recent conflicting data: GDP remains strong, but labour has shown signs of weakness while core inflation remains sticky. \u201cDetermining the correct policy setting in real time is never easy, and it would be made all the more difficult by a prolonged government shutdown,\u201d Mr. Pugliese said. <\/p>\n Do it already:<\/b> Nike NKE-N<\/a> has been on the bench for much of the market rally and has been drifting lower into earnings to be announced on Tuesday. The company is in the midst of a turnaround under chief executive officer Elliott Hill, who took the helm in 2024. Nike has struggled with a self-inflicted sales slump exacerbated by a consumer slowdown. It\u2019s also previously warned that tariffs would cost the company US$1-billion. <\/p>\n This quarter, analysts are bracing for another sales decline compared to last year, although the focus will be on quarter-over-quarter improvements. In a market in which stocks have raced higher, underperformers like Nike become more interesting. Right now, there is a bull\/bear debate playing out on the street. RBC just upgraded the stock to buy, calling for \u201csteeper revenue recovery\u201d than analysts are expecting in part because of the World Cup. <\/p>\n \u201cWorld Cup 2026 commercial opportunity could benefit Nike revenues by $1.3bn,\u201d wrote RBC Capital Markets equity analyst Piral Dadhania in the upgrade. On the other hand, bearish analysts see a high bar to clear. \u201cCosts are rising and China likely remains soft, tempering our confidence on [gross margins],\u201d wrote Raymond James\u2019 Rick Patel, who is neutral on the stock. <\/p>\n Cruise control:<\/b> Carnival Corp. CCL-N<\/a> will report Monday and is expected to show 2.5-per-cent sales growth. Even though sales are nearly 30 per cent above pre-pandemic levels, the stock is still 40 per cent below where it was before the pandemic hit. Part of this is because of the debt the company had to take on to stay afloat. But as those memories fade into the distance, investors have enjoyed a solid recovery. <\/p>\n Wall Street Week Ahead: Investors look to jobs data to support rate-cut path, pricey stock market<\/a><\/p>\n Peers like Royal Caribbean and Norwegian Cruise Line both gave an upbeat forecast when they reported. Bank of America senior equity research analyst Andrew Didora says Carnival\u2019s stock is still cheap relative to its historical average and the recent opening of its private island in the Caribbean, Celebration Key, should be a tailwind. <\/p>\n Bad taste: <\/b>Conagra CAG-N<\/a> is set to report results Wednesday as it languishes at a 14-year low. The maker of Slim Jims and Snack Pack is expected to report a 48-per-cent drop in profit per share and sales are expected to fall for an eighth quarter in a row. <\/p>\n Conagra has been beset by a number of challenges, including supply-chain disruptions, higher input costs stemming from tariffs, higher beef prices and weak consumer demand, particularly for frozen and refrigerated meals. Evercore doesn\u2019t recommend chasing the stock here. \u201cWe will wait to see if Conagra can return to organic sales growth heading into [2027],\u201d wrote David Palmer of Evercore ISI. <\/p>\n Vibe check: <\/b>Meme stocks are back and have a new ringleader: Eric Jackson of EMJ Capital. Mr. Jackson led the charge on the recovery of Opendoor Technologies OPEN-Q<\/a>, which has culminated in a 750-per-cent stock rally since he first disclosed he was investing in the stock again. His tactics are unusual. He\u2019s been campaigning almost daily outside of Drake\u2019s house to compel him to get on the bandwagon. But he\u2019s appeared to have some success: The founders of the home-sales platform are back on the board, and the company poached former Shopify COO Kaz Nejatian as chief executive officer. <\/p>\n Now, Mr. Jackson is turning his sights onto his next big thing: Better Home & Finance. He disclosed his holding in the online mortgage platform, which he called the \u201cShopify of mortgages\u201d and the stock promptly rallied 81 per cent in two days. Mr. Jackson was the very first guest on my podcast when he was just a humble fund manager picking tech stocks. He returns for Tuesday\u2019s episode of In the Money to talk about how life has changed in the last nine months and the fundamentals behind his picks. <\/p>\n