A look at some of the key business events and economic indicators upcoming this week:
CONFIDENCE CHECK
The Conference Board delivers its latest index of U.S. consumer confidence Tuesday.
Economists expect the reading fell to 105 this month from 108 in September. A reading of 90 or better reflects a healthy economy. The index measures consumers’ assessment of current conditions and their outlook for the future, and has fluctuated this year amid the highest inflation in decades, rising interest rates and a steep stock market downturn.
Consumer confidence, by month:
May 103.2
June 98.4
July 95.3
Aug. 103.6
Sept. 108.0
Oct. (est.) 105.0
Source: FactSet
EYE ON HOUSING
The Commerce Department releases its September tally of new U.S. home sales Wednesday.
Economists project that sales slowed last month to a seasonally adjusted annual rate of 580,000 homes from 685,000 in August. The housing market has cooled after a strong start to the year as sharply higher mortgage rates have made homeownership less affordable for many would-be buyers.
New home sales, seasonally adjusted annual rate, by month:
April 619,000
May 636,000
June 582,000
July 532,000
Aug. 685,000
Sept. (est.) 580,000
Source: FactSet
STRONG FINISH?
Wall Street expects that Apple closed out the final quarter of its last fiscal year on a strong note.
Analysts predict the world’s largest technology company will report on Thursday that its fourth-quarter earnings and revenue increased from a year earlier. That would mark a return to form after Apple’s fiscal third-quarter profit fell by 10% as it wrestled with manufacturing headaches and inflation pressures. The company’s supply chain problems have been compounded by pandemic-related shutdowns in Chinese factories.
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