Investors will be watching the Federal Reserve closely this week as the agency offers new insight on inflation and its impact on the U.S. economic outlook and monetary policy moving forward. The market will also take in key housing data and a slew of earnings from big names including FedEx, Nike and Costco.
President Biden is also set to deliver in-person remarks to the 76th session of the United Nations General Assembly for the first time since taking office.Kicking off the week will be earnings from homebuilder Lennar and the National Association of Homebuilders’ housing market index.
As for economic data, investors will be watching for building permits, housing starts, and the U.S. current account for the second quarter.
This as the Organisation for Economic Co-operation and Development (OECD) will update its forecasts for major economies in its interim outlook. Other market-related events to watch include Raymond James 3-for-2 stock split, which will take effect in the form of a 50% stock dividend payable to shareholders of record as of Sept. 9.
Shareholders will receive one additional share of Raymond James Financial common stock for every two shares owned, which will be distributed on Tuesday. Cash will be distributed in lieu of fractional shares based on the stock’s closing price on Monday.