What to watch in the markets this week

Last week ended on a positive note, with two key developments easing concerns about the economy. A strong jobs report helped calm fears of a weakening labor market, while the resolution of the pork strike eased concerns about supply chain disruptions. In addition, oil prices, which rose earlier in the week due to tensions in the Middle East, saw a welcome drop by the weekend.

This week promises to be action-packed with plenty on the horizon. With this wave of optimism, let’s see what next week has in store.

Three-day Nvidia AI Summit

The NVIDIA AI Summit kicks off Monday, October 7-9 in Washington, DC The three-day event will bring together industry leaders to explore how AI can address some of society’s biggest challenges. With a focus on healthcare, cybersecurity, manufacturing and more, the summit will highlight AI’s potential to drive innovation in key sectors.

Amazon’s two-day Prime Day sale

Amazon’s ( AMZN ) two-day Prime Day sales event kicks off Tuesday, providing valuable insight into consumer behavior and e-commerce trends. The sale will provide key insights into which products shoppers prioritize as well as the broader state of consumer demand. This event is expected to highlight popular categories and pricing strategies and could serve as a signal for the upcoming holiday shopping season.

Amazon’s recruiting strategy is partly driven by expectations that e-commerce spending will outpace total holiday sales in the fourth quarter. The company’s Prime Day event earlier this year generated more than $14.2 billion in online sales, marking one of the biggest e-commerce events of the year.

Musk will finally unveil robotaxis

Tesla ( TSLA ) CEO Elon Musk will finally unveil the highly anticipated Robotaxi on Thursday at Warner Bros. Studios (WBD) in Los Angeles, California. Nicknamed “We, Robot”, the event will feature the first look at the prototype and booking platform for owners and riders. There will also be an update on the company’s Full Self-Driving (FSD) technology that powers the robotax, along with a production timeline and service launch date.

The beginning of the earnings of the financial giants

PepsiCo ( PEP ) is set to report earnings before the closing bell on Tuesday. Then on Thursday, Delta Air Lines ( DAL ), Infosys ( INFY ) and Domino’s Pizza ( DPZ ) are scheduled to release earnings before the market opens. The week will end on Friday with major banks in the spotlight as JPMorgan Chase ( JPM ), Wells Fargo ( WFC ), BlackRock ( BLK ) and BNY Mellon ( BK ) lead the financial sector’s quarterly earnings season.

Inflation data is available this week

The consumer credit report for September is due out on Monday. In midweek (Wednesday), investors will be keeping an eye on August Wholesale Inventories data, along with minutes from the Federal Reserve’s September FOMC meeting, which could provide insights into the central bank’s next moves.

Thursday will bring a trio of key data, including initial jobless claims, consumer price index (CPI) and core CPI, providing a detailed look at inflation and labor market trends. Finally, on Friday, the producer price index (PPI) and core PPI will be released along with preliminary consumer sentiment data for October, rounding out the week with a comprehensive picture of inflationary pressures and consumer outlook.

– Francisco Velasquez contributed to this article

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