US markets will await inflation data and Apple presentation
In the United States, the Labor Day-shortened trading week will focus on inflation data, Apple’s annual presentation, and speeches by technology company executives at investor conferences. As CNBC Top News reports, August inflation figures could affect the US Federal Reserve’s interest-rate decision at its September 15–16 meeting.
Inflation and the Fed rate
The producer price index is due to be released on September 10, followed by the consumer price index on September 11. According to the FactSet consensus forecast, the headline producer price index in August is expected to rise by 0.4% month on month and 5.4% year on year. The core figure, which excludes food and energy prices, is forecast at 0.3% for the month and 4.6% for the year.
Analysts also expect consumer inflation to amount to 0.36% month on month and 3.3% year on year. The core consumer price index is forecast to increase by 0.2% for the month and 2.3% for the year.
Federal Reserve Board Governor Christopher Waller said that his stance on monetary policy would largely depend on the August inflation data. According to him, further movement toward the 2% inflation target could incline him to support keeping the rate unchanged, while higher figures could provide grounds to consider raising it.
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Apple presentation and conferences
On September 9, Apple will hold its annual device presentation event called “surprise and shine.” It will be the company’s first major presentation under John Ternus, who replaced Tim Cook as chief executive officer on September 1. Cook moved to the position of executive chairman of the board of directors.
Apple is expected to unveil the iPhone 18 lineup, updated Apple Watch and AirPods, and may also announce smart-home devices. CNBC notes that the company may enter the foldable smartphone market for the first time. Bloomberg previously reported that the price of such a device could exceed $2,000. According to IDC estimates, Apple could ship more than 17 million foldable iPhones by 2027 and capture 40% of this market segment.
Representatives of Alphabet, Microsoft, Salesforce, Qnity Electronics, CrowdStrike, and Nvidia are scheduled to speak at the Goldman Sachs Communacopia + Technology Conference. Cardinal Health and Johnson & Johnson are due to speak at Wells Fargo’s healthcare conference on September 9.
After trading closes on September 10, Oracle, Adobe, and Copart are expected to report financial results. On September 11, Kroger’s earnings report is scheduled before the market opens, along with the release of the preliminary University of Michigan consumer sentiment index.
