A Week of Key Economic Releases
Investors are bracing for several days filled with economic reports and new information about the Federal Reserve's latest rate hike. Among the releases are updated figures on the services industry, jobless claims and how consumers are feeling, all of which could shed light on the way companies and families are coping with inflation that has stayed elevated. Additionally, the Fed's meeting minutes will offer a closer look at how officials approached interest rate policy.[S1]
On Monday, the Institute for Supply Management will release its monthly service sector index for September. This sector accounts for the majority of U.S. economic activity, and the report will indicate whether it is expanding. On Wednesday, the Fed will publish the minutes from its previous meeting, offering details on its decision-making process regarding the interest rate increase. These minutes could reveal the central bank's views on inflation and the job market and how they influence policy.[S1]
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Jobless claims figures arrive on Thursday, and they continue to sit at low levels not seen in recent history. Economists treat these numbers as an indicator of layoffs and monitor them for clues about where the labor market is headed. The University of Michigan's October consumer sentiment reading comes out Friday, gauging public attitudes toward the economy. In September, that survey found households uneasy about rising gasoline costs and inflation that has proven difficult to bring down.[S1]
